MUMBAI: Procter & Gamble (P&G) will divert funds into its strongly-performing Indian businesses as the company aims to maximise cost savings.
The Economic Times reports that the FMCG firm is upping its investments on the subcontinent, deals struck over recent months set to deliver extra funds of almost Rs 1,000 crore in a single financial year.
Future marketing initiatives are likely to include the Indian launch of Crest and Oral B, both P&G-owned toothpaste brands.
Products that have already been launched in India, including Pampers and Olay, could also soon be made domestically, following big investments in the firm's distribution network.
More broadly, nations in the Asia-Pacific region are being prioritised by the FMCG firm due to their significant potential for growth.
P&G's own figures indicate that emerging markets' contribution to sales has risen from 27% of the global total to 35% over the past five years.
The planned Indian investments come alongside an announcement from P&G CEO Bob McDonald last month that the firm would impose around $10bn in savings over the next four years. Of this total, around $1bn will be cut from marketing budgets.
Speaking to the news source, a P&G representative said: "Globally, developing markets provide a significant growth opportunity for us.
"P&G India has been achieving a robust & consistent growth of 20% to 30% year-on-year, with our business growing 10 times over the last eight years."
Data sourced from Economic Times; additional content by Warc staff