One of the global leaders of the consumer goods, Procter & Gamble's Global Chief Executive, David Taylor met with Prime Minister, Narendra Modi to discuss the partnership opportunities in education and clean India movement. Apart from that, the duo also had a long conversation on manufacturing opportunities that can be penned between the firm and the nation.
Taylor joined the maker of Ariel and Pampers a year ago amid falling global sales and restructuring of its product portfolio. In India too, it is de-prioritizing several unprofitable lines of business, which has impacted short-term top line growth rates.
While it posted high-single-digit sales growth in the June quarter in segments that are strategically important for the company, rest of its local businesses, which account for about 15 per cent of its overall portfolio, shrank 35 per cent.
Sharing the details of the meeting, Taylor informed that group has reinforced its commitment to sustainability and agreed to partner with the Indian government on the Clean India initiative to protect the environment and reduce waste to landfill. It will also reaffirm its mutual goal to improve the lives of women and children. Overall, it was an exciting meeting and group is proud to be able to demonstrate P&G's commitment to this dynamic and fast growing country.
India has been a top hunting ground for P&G and in past three years, it has invested around Rs 2000 crore in the country, mainly to cut down on its imports by setting up manufacturing units across the country. Currently, the company distributes its products in India through seven manufacturing units installed in six states. These units churn almost 90 per cent of the company's products that is distributed across the Indian corridor.