Procter & Gamble announces Rs.500 Cr rural growth fund
By Retail4Growth Bureau | October 20, 2021
Through the fund, P&G will aim to accelerate its rural growth and it will include solutions on superior communication, media outreach and go-to-market solutions like tech-enabled selling, increasing distribution and last-mile delivery.
Procter & Gamble (P&G) India has announced a ₹ 500 Cr ‘P&G Rural Growth Fund’ to accelerate inclusive growth in the Indian rural market. This fund will provide external partners an opportunity to collaborate with P&G on business solutions customized for meeting the needs of rural consumers. This will include solutions on superior communication, media outreach and go-to-market solutions like tech-enabled selling, increasing distribution and last-mile delivery.
This new fund is a part of P&G India’s ‘vGROW’ program that focuses on identifying and collaborating with start-ups, small businesses, individuals, and large organizations offering innovative industry-leading business solutions.
With this announcement, P&G also launched the fourth edition of ‘P&G vGROW External Business Partner Summit,’ on October 19-20, 2021, which will offer a platform to existing and new suppliers to pitch their solutions to P&G’s leadership team to accelerate rural growth.
Madhusudan Gopalan, CEO, P&G Indian Subcontinent 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. With this, we set up P&G’s ‘Rural Growth Fund’ to collaborate with external partners who understand the rural DNA and can enable us to deliver our superior products, communication, retail execution and value to our rural consumers. We also want to invest in empowering rural kiranas with tech-enabled solutions and best practices on inventory and store management that will help them build their businesses further. We are confident that through these partnerships we will be able to contribute towards the inclusive growth of the rural economy.”
vGROW is P&G’s first-of-its-kind platform to identify and collaborate with businesses and individuals offering industry-leading solutions. Through this platform, P&G engages with over 2,000+ Indian suppliers including start-ups, small businesses and large organizations from a wide range of industries and services - from creative agencies to technology partners to material suppliers.