Procter & Gamble India announces Rs 500 crore fund to fuel rural growth
Procter & Gamble (P&G) India has announced a Rs 500 crore ($66.6 million) 'P&G Rural Growth Fund' to fuel inclusive growth in the country’s rural markets.
P&G will use the fund to help its external partners strengthen its presence across verticals like technology, distribution, last-mile delivery, and marketing, among others.
The newly created fund is part of P&G India’s ‘Vgrow’ initiative which focuses on innovative collaborations with start-ups, small businesses, individuals, and large organisations.
Commenting on the fund, Madhusudan Gopalan, CEO P&G Indian subcontinent in a statement said: “Rural India has a pivotal role to play in India's road to recovery from the pandemic. We have already seen the rural segment deliver a resilient performance during the last few months and will continue to be a key driver of growth for the FMCG industry.”
“For P&G, accelerating our growth in the rural market is a strategic priority. We are confident that through these partnerships we will be able to contribute towards the inclusive growth of the rural economy,” he added.
Procter & Gamble Hygiene and Health Care Ltd is one of India’s fastest growing FMCG companies and retails a wide range of personal care brands in India including Olay, Wella, and Pantene, among others.
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