Procter & Gamble (P&G) has announced a Rs 400 cr ‘India Growth Fund’ to collaborate with existing and new suppliers to build capacities that will further localise manufacturing of finished products, procurement of raw materials & packaging materials, and adopt go-to-market innovations & technology.
This move is in line with government’s vision of a self-reliant India and P&G’s commitment to drive inclusive growth in India through external partnerships. This new fund is part of P&G India’s ‘vGROW’ programme that focuses on identifying and collaborating with start-ups, small businesses, individuals or large organisations offering innovative industry-leading solutions.
With this announcement, P&G also launched the third edition of ‘P&G vGROW External Business Partner Summit,’ on October 29-30, that offers a platform to existing and new suppliers to pitch their solutions to P&Gs leadership team.
This year, in addition to localization solutions, the summit will also focus on identifying solutions that revolutionize go-to-market capabilities, optimize inventory and expand consumer reach of P&G brands.