Summary:
New Delhi, India – Business Wire India A new, independent report from Oxford Economics shows: • Reckitt contributed INR78.8 billion (£775 million) to India’s GDP in 2021 • Reckitt employees typically contribute around 6x the national average to India’s economy[1] • Reckitt supported over 69,000 jobs across India’s economy in 2021 Oxford Economics today published its independent analysis of the significant economic impact of Reckitt Benckiser Group plc (“Reckitt”) in India, one of Reckitt’s top three markets.
As a global leader in health, hygiene, and nutrition products, Reckitt contributed a total of INR78.8 billion (£775 million) to India’s Gross Domestic Product (GDP) in 2021.
The report[2] 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 – 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.[3] • Supportive Supply chain - Over 95% of Reckitt’s local procurement is with suppliers in India.
• Employment enabler – Reckitt"s employment multiplier in India is 21[4], almost 6 times the national average.
“Our 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,” said Adrian Cooper, CEO of Oxford Economics.
“Reckitt has also invested in improving community access to the highest quality hygiene, wellness and nourishment among the local population.” The report highlights Reckitt’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: “We’re extremely proud of our strong roots in India and the world-leading R&D and IT facilities we’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 Government’s ‘Make in India’ campaign, 95% of Reckitt’s local procurement is with Indian suppliers.” Gaurav Jain, Reckitt’s SVP South Asia, commented: “As a fixture of Indian households since 1934, we’re delighted to publish this report ahead of India’s 75th Independence Day celebrations.