Oxford Economics today published its independent analysis of the significant economic impact of Reckitt Benckiser Group plc (â€œReckittâ€) in India, one of Reckittâ€™s top three markets.
As a global leader in health, hygiene, and nutrition products, Reckitt contributed a total of INR78.8 billion (Â£775 million) to Indiaâ€™s Gross Domestic Product (GDP) in 2021.
Report assesses the value Reckitt brings to the Indian economy and society by combining three key impacts: Gross Domestic Product (GDP), employment and government receipts in 2021.
Other report highlights include:
- High GDP multiplier â€“ Reckitt has a GDP multiplier of 2.5, almost double that of the average chemical and pharmaceutical manufacturing company in India. That means for every INR 1 million in GDP Reckitt generated in 2021, its expenditure on inputs and wages stimulated an additional INR 1.5 million in the local economy.
- Supportive Supply chain – Over 95% of Reckittâ€™s local procurement is with suppliers in India.
- Employment enabler â€“ Reckitt's employment multiplier in India is 21 4 , almost 6 times the national average.
â€œOur research demonstrates the significant contribution that a large and successful global company like Reckitt can make to the Indian economy; supporting employment opportunities, improving public health, and advancing social development across the country,â€ said Adrian Cooper, CEO of Oxford Economics.
The report highlights Reckittâ€™s contribution to wider social development in India, including its Research and Development (R& D) initiatives, upskilling its workforce and promoting gender inclusion, and supporting local communities to lead healthier and more hygienic lives.
Laxman Narasimhan, CEO of Reckitt, commented: â€œWeâ€™re extremely proud of our strong roots in India and the world-leading R& D and IT facilities weâ€™ve established here. India is a great source of talent for our business and the local supply chain is key to our success. In line with the Governmentâ€™s â€˜Make in Indiaâ€™ campaign, 95% of Reckittâ€™s local procurement is with Indian suppliers.â€
Gaurav Jain, Reckittâ€™s SVP South Asia, commented: â€œAs a fixture of Indian households since 1934, weâ€™re delighted to publish this report ahead of Indiaâ€™s 75 th Independence Day celebrations. Oxfordâ€™s independent assessment underlines our commitment to building on this strong heritage. We look forward to supporting Indiaâ€™s economic growth, employment opportunities and solving societal challenges for years to come.â€
Reckitt partners with the Government of India, non-governmental organizations (NGOs), industry associations and other organisations to tackle societal challenges. Its key social impact programmes in India include:
- The Dettol Banega Swasth India Campaign, which works towards improving peopleâ€™s behaviours around health and hygiene, reaching 116 million people since it launched in 2014.
- The Dettol School Hygiene Education Programme, which teaches children hygiene behaviours like hand washing and has educated 20 million children in five critical hygiene settings â€“ at home, school, within neighbourhoods, personally and during illness.
- The Reach Each Child Programme, which has saved 6,500 children from death and illness from malnutrition.
- The Harpic World Toilet College Programme, which provides Indiaâ€™s sanitation workers with greater economic prosperity, increased dignity, and a safer working environment, has trained over 15,800 workers.