New launches are going to play a big role in Reckitt Benckiser's growth and the company is betting big on the government's Swachh Bharat programme.
India is the only island of growth amongst the emerging markets, that's how the CEO of Reckitt Benckiser, describes India and though he doesn't see the country growing in high double-digit over the next two years, Rakesh Kapoor is indeed very bullish on the country and says the global FMCG giant is in for the very long haul.
New launches are going to play a big role in the company's growth and it is betting big on the government's Swachh Bharat programme.
Kapoor said India's story is not about a quarter or even a year, it is a very long-term story and companies that have a very long view on India will make the right choices and make India a very important part of their business as indeed we want to make.
"Just a few years ago everyone was super excited about Brazil, Russia, India and China (BRIC). Everyone thought BRIC was the answer to economic challenges in the west but just a few years later Brazil is in a very tough place, Russia for both I would say political reasons but also economic reasons is not the same high profile economic growth that we have seen so in that context India becomes quite an island of growth for many companies. India remains very important not just for its own structural demographic and economic reasons but also in the context of global growth," he added.
Kapoor further said that the Association of Southeast Asian Nations (ASEAN), which has headquarters in markets like Singapore, Indonesia will revert to Singapore through the ASEAN regional headquarters.
"In the past India was reporting into ASEAN which was reporting into our developing markets headquarters but now we have brought India straight line into reporting into developing markets headquarters so India actually has gone up, not gone down in the hierarchy if you want to measure it like that but India of course is, has been and will be a very important force of growth for RB," said Kapoor.
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