Oxford Economics published its independent analysis of the significant economic impact of Reckitt Benckiser Group in India. The study evaluates the total contribution of the company’s operations in India towards the Indian economy in the year 2021.
The report states that as a global leader in health, hygiene, and nutrition products, Reckitt contributed a total of Rs 78.8 billion (£775 million) to India’s Gross Domestic Product (GDP) in 2021. Reckitt employees typically contribute around 6x the national average to India’s economy and the company has supported over 69,000 jobs across India’s economy in 2021.
Other highlights include, Reckitt has a GDP multiplier of 2.5, almost double that of the average chemical and pharmaceutical manufacturing company in India, which means for every Rs 1 million in GDP Reckitt generated in 2021, its expenditure on inputs and wages stimulated an additional Rs 1.5 million in the local economy. Supportive Supply chain – Over 95% of Reckitt’s local procurement is with suppliers in India. Reckitt’s employment multiplier in India is 214, which is almost 6 times the national average.
The report further highlights Reckitt’s contribution to wider social development in India, including its Research and Development (R&D) initiatives, upskilling its workforce; promoting gender inclusion, and supporting local communities to lead healthier and more hygienic lives.
“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,” he added.
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. Oxford’s independent assessment underlines our commitment to building on this strong heritage. We look forward to supporting India’s economic growth, employment opportunities and solving societal challenges for years to come.”