INDIA: Oxford Economics today published its independent analysis of the significant economic impact of Reckitt Benckiser Group plc (“Reckitt”) in India. Reckitt is a household name with a proud history of creating innovative products for individuals, families, and communities since 1934. Its portfolio boasts iconic brands including Dettol, Durex, Harpic, Lysol, Veet, and many more that are trusted by millions of Indians every year. Reckitt is not only building products for Indians in India but also contributing towards delivering real impact.
The study evaluates the total contribution of the company’s operations in India to the Indian economy in the year 2021. Oxford Economics and Reckitt have used sophisticated economic models to assess the impact of Reckitt’s own operations, its procurement from Indian suppliers, and its contribution toward employment. These are evaluated using three key metrics: Gross Domestic Product (GDP), employment generated, and tax revenues.
Some key findings of the report are:
Reckitt has contributed a total of INR 78.8 billion to the Indian economy, out of which 40% (INR 31.6 billion) was contributed by direct business activities
For every 1 million of GDP generated by Reckitt, a further INR 1.5 million is supported elsewhere in the Indian Economy
Reckitt teams are very productive, and, on average, each Reckitt employee directly contributed INR 9.4 million to the Indian GDP in 2021 which is 6X the national average
Reckitt supported more than 69,567 jobs throughout India in 2021 — of which 3,367 were direct employees of the company indicating that Reckitt has a “jobs multiplier” effect of 21X
The economic activity supported by Reckitt in 2021 generated a total of INR 28.3 billion in tax receipts across all levels of the Indian government. This would have been sufficient to pay the annual wages of 150,000 health and social care workers