NEW DELHI : Procter & Gamble India (P&G India), the parent company of brands such as Gillette, Whisper, and Vicks, on Thursday unveiled a ₹300 crore ‘P&G Supply Chain Catalyst Fund’. Aimed at teaming up with third-party firms and startups, the fund’s objective is to co-develop solutions for a contemporary supply chain ecosystem.
The investment focuses on multiple aspects, from supply chain optimization and digitization to capacity expansion and sustainability, as the company seeks to rejuvenate its supply chain, according to a company statement.
The fund is part of P&G India’s ‘vGROW’ Programme, initiated six years ago, which targets partnerships with startups, small enterprises, individuals, and larger corporations providing business solutions beneficial to P&G’s operations in India. To date, investments totalling ₹1,800 crore have been committed via the programme.
“With the ‘P&G Supply Chain Catalyst’ fund, we are focused on co-creating innovative solutions that enhance the very backbone of our operations – the supply chain. We are confident that focused interventions in the supply chain will have a positive impact on our overall priorities including constructive disruption and productivity,” LV Vaidyanathan, CEO, P&G India sub-continent, said in a statement on Thursday.
“With this fund, we have committed spends of more than ₹1800 crore to date in business solutions through vGROW. We strongly believe that a healthy dissatisfaction with the status quo will help us raise the bar on constructive disruption and better serve consumers, customers, and communities,” he said.
Through the vGROW platform, P&G engages with over 2,300 suppliers including startups, small businesses, and large organizations from a wide range of industries and services from creative agencies to technology partners to material suppliers. For instance, last year, the company announced a ₹200 crore ‘P&G Technovate Fund’ to solve business challenges by leveraging technology in collaboration with existing and new external suppliers.