{"id":6977,"date":"2022-08-09T12:16:47","date_gmt":"2022-08-09T06:46:47","guid":{"rendered":"https:\/\/timesofpowerandvoice.com\/?p=6977"},"modified":"2022-08-09T12:16:48","modified_gmt":"2022-08-09T06:46:48","slug":"oxford-economics-highlights-reckitts-support-for-indian-economy-and-communities","status":"publish","type":"post","link":"https:\/\/timesofpowerandvoice.com\/?p=6977","title":{"rendered":"OXFORD ECONOMICS HIGHLIGHTS RECKITT’S SUPPORT FOR INDIAN ECONOMY AND COMMUNITIES"},"content":{"rendered":"\n

A new , independent report from Oxford Economics shows :<\/strong><\/p>\n\n\n\n

\u2022 Reckitt contributed INR78.8 billion ( \u00a3 775 million ) to India’s GDP in 2021<\/strong><\/p>\n\n\n\n

Reckitt employees typically contribute around 6x the national average to India’s economy\u00b9<\/strong><\/p>\n\n\n\n

Reckitt supported over 69,000 jobs across India’s economy in 2021<\/strong> <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Pune (Voice News Service) – 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 ( \u00a3 775 million ) to India’s Gross Domestic Product ( GDP ) in 2021.<\/p>\n\n\n\n

The report\u00b2 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.<\/p>\n\n\n\n

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. \u00b3<\/p>\n\n\n\n

Supportive Supply chain – Over 95 % of Reckitt’s local procurement is with suppliers in India.<\/p>\n\n\n\n

\u2022 Employment enabler – Reckitt’s employment multiplier in India is 21″, almost 6 times the national average.<\/p>\n\n\n\n

“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<\/p>\n\n\n\n

1- This is measured as the average gross valued added contribution to GDP produced by each Reckitt employee.<\/p>\n\n\n\n

2- The modelling is underpinned by Oxford Economics’ bespoke Global Sustainability Model ( GSM ) that analyses a company’s economic impact across three core channels of direct impact, indirect impact and induced impact.<\/p>\n\n\n\n

3 The total GDP impact is 2.5 times the direct GDP impact alone. In other words , for every INR1 million GDP that Reckitt itself generated in 2021, its expenditure on inputs and wages stimulates a further INR1.5 million of GDP across the country.<\/p>\n\n\n\n

4 Reckitt India’s employment multiplier in 2021 is 21, meaning every 100 jobs in Reckitt supported 2,000 jobs in other parts of the Indian economy .<\/p>\n\n\n\n

Economics . “Reckitt has also invested in improving community access to the highest quality hygiene, wellness and nourishment among the local population.<\/p>\n\n\n\n

“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.<\/p>\n\n\n\n

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.”<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

We look forward to supporting India’s economic growth, employment opportunities and solving societal challenges for years to come.<\/p>\n\n\n\n

“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 :
\u25cf . The Dettol Banega Swasth India Campaign , which works towards improving people’s behaviours around health and hygiene , reaching 116 million people since it launched in 2014 .<\/p>\n\n\n\n

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 – at home, school, within neighbourhoods, personally and during illness.<\/p>\n\n\n\n

The Reach Child Programme, which has saved 6,500 children from death and illness from malnutrition.<\/p>\n\n\n\n

The Harpic World Toilet College Programme, which provides India’s sanitation workers with greater economic prosperity, increased dignity, and a safer working environment, has trained over 15,800 workers.
https:\/\/www.reckitt.com\/sustainability\/purpose-led-brands\/the-economic-impact-of-reckitt-in-in<\/p>\n","protected":false},"excerpt":{"rendered":"

A new , independent report from Oxford Economics shows : \u2022 Reckitt contributed INR78.8 billion ( \u00a3 775 million ) to India’s GDP in 2021 Reckitt employees typically contribute around 6x the national average to India’s economy\u00b9 Reckitt supported over 69,000 jobs across India’s economy in 2021 Pune (Voice News Service) – Oxford Economics today […]<\/p>\n","protected":false},"author":1,"featured_media":6978,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[71,78],"tags":[],"class_list":["post-6977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-social-activity"],"_links":{"self":[{"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=\/wp\/v2\/posts\/6977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6977"}],"version-history":[{"count":1,"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=\/wp\/v2\/posts\/6977\/revisions"}],"predecessor-version":[{"id":6980,"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=\/wp\/v2\/posts\/6977\/revisions\/6980"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=\/wp\/v2\/media\/6978"}],"wp:attachment":[{"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}