Mumbai: Procter & Gamble India said it will invest Rs400 crore to partner local manufacturers and suppliers in line with the government's vision of a self-reliant India.The maker of Pantene shampoo and Ariel detergent said this is part of its ‘vGROW’ program that focuses on identifying and collaborating with start-ups, small businesses, individuals or large organizations that can offer innovative solutions."In line with our commitment, we are setting-up P&G’s ‘India Growth Fund’ to collaborate with partners on building capacities that will further localize manufacturing of finished products, procurement of raw materials and packaging materials, and adopt innovative solutions that enhance our go-to-market technologies which will enable us to serve our consumers in India," said Madhusudan Gopalan, CEO, P&G Indian Subcontinent adding that more than 95% of its products sold in the country are manufactured locally.P&G has been hosting events over the past three years to identify potential partners where sustainable solutions providers in packaging innovations, renewable sources of energy and reducing carbon footprint can pitch to P&G’s leadership team.So far, it has invested more than Rs250 crore in partnerships on new-age, innovative and sustainable solutions for the business.
Government's cash surplus tops Rs 3.4 lakh crore https://ift.tt/54P3HSG from the deceleration in government spending, higher direct tax collections and a likely sharp rise in issuances of Treasury Bills by the Centre in FY24 were factors pushing up the government's cash balances, analysts said. The flow of government cash balances to and from the banking system is a key factor that influences liquidity conditions.
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