Recipients of Porter Prize on Creating Shared Value

Godrej Consumer Products Ltd.

Godrej Consumers Products, headquartered in Mumbai is a leading FMCG company present across emerging markets. Set up in 2001, Godrej has attained leading market position in insecticides, hair colours and liquid detergents in India. The company enjoys a patronage of 1.1 billion consumers spread across Asia, Africa & Latin America. It is driven by a 3×3 strategy which focuses on three business categories (personal care, hair care and home care) across three geographies (Asia, Africa and Latin America).

Porter Prize for Creating Shared Value was awarded to the company for their introduction of affordable household insecticides in semi-urban and rural areas. Commenting on the achievement, Sunil Kataria, Business Head, India & SAARC, Godrej Consumer Products Limited said “We are proud of 2 things– shared value and innovation. It is heartening to see that what we have done in innovation which has led to shared value impact and award.”

Abbott India

Abbott India is considered to be one of the fastest growing pharmaceutical companies in India. Setup in 1944, it is a subsidiary of Abbott’s Laboratories. The company provides consumers with a diverse range of diagnostics solutions, medical devices, nutritional products and established pharmaceuticals that span the continuum of care. They have over 400 branded generic pharmaceuticals in 90% of therapy areas at 5 million pharmacies nationwide.

On receiving the award, Bhasker Iyer, CEO, Abbott India Limited said, “We at Abbott are extremely proud of Shared Value Initiative. We are convinced that this will benefit all our stakeholders. We are extremely honored.”

JSW Group

The JSW Group, a $11 billion conglomerate, is a part of the O.P. Jindal Group. JSW has set up business facilities in various core sectors of India. With verticals that are exploring innovative and sustainable avenues in steel, energy, infrastructure and cement, the Group is paving the way for India’s development as a global superpower. JSW Group is committed to functioning at internationally benchmarked levels to ensure complete satisfaction for all stakeholders.

Jain Irrigation Systems Ltd

Jain Irrigation Systems Ltd. (JISL) derives its name from the pioneering work it did for the Micro Irrigation Industry in India. However, there is more to Jain Irrigation than Irrigation. The Corporation has multi product industrial profile and manufacturers of Drip and Sprinkler Irrigation Systems and Components. Each of their products is an outcome of an effort to conserve nature’s precious resources through substitution or value addition.

Hindustan Unilever Limited

Hindustan Unilever Limited (HUL) is India’s largest Fast Moving Consumer Goods Company with a heritage of over 80 years in India and touches the lives of two out of three Indians. HUL works to create a better future every day and helps people feel good, look good and get more out of life with brands and services that are good for them and good for others. It has emerged as one of the leaders in the shared value creation, having developed several innovative programs like ‘Project Shakti’. Project Shakti works with nearly 75,000 underprivileged female entrepreneurs to sell Unilever’s products in 1,65,000 villages.

Rallis India Limited

Rallis, a TATA Enterprise is a subsidiary of Tata Chemicals, with its business presence in the Farm Essentials vertical. It is one of India’s leading crop care companies. The company’s 2,300 distributors reach more than 40,000 retail counters across the country covering more than 80% of India’s districts. Rallis is known for its deep understanding of Indian agriculture, sustained contact with farmers, quality agrochemicals, branding and marketing expertise and its strong product portfolio of comprehensive crop care solutions. Rallis is closely connected to around 1 Million farmers through Rallis Kisan Kutumb programme. It is estimated that around 5 Million+ farmers benefit from the agriculture solutions provided by Rallis.

Godrej Group

Established in 1897, the Godrej Group has its roots in India’s Swadeshi movement. Godrej is one of India’s most trusted brands, with revenues of USD 4.1 billion, it enjoys the patronage of 1.1 billion consumers globally across consumer goods, real estate, appliances, agri and many other businesses. As a part of Godrej’s ‘Good & Green’ vision, it aspires to Ensures employability, Create a greener India and Innovate for good & green products by 2020.

Mother Dairy

Mother Dairy was commissioned in 1974 as a wholly owned subsidiary of the National Dairy Development Board (NDDB). It was an initiative under Operation Flood, the world’s biggest dairy development program launched to make India a milk sufficient nation. Over the years, Mother Dairy has contributed significantly in achieving this objective through a series of innovations and programs. Today, Mother Dairy manufactures markets & sells milk and milk products including cultured products, ice creams, paneer and ghee under the Mother Dairy brand. The Company also has a diversified portfolio with products in edible oils, fruits & vegetables, frozen vegetables, pulses, processed food like fruit juices, jams, etc. to meet the daily requirements of every household. leo.

ICICI Lombard

ICICI Lombard GIC Ltd. is a joint venture between ICICI Bank Limited and Fairfax Financial Holdings Limited, a Canada based diversified financial services company engaged in general insurance, reinsurance, insurance claims management and investment management. ICICI Lombard GIC Ltd. is the largest private sector general insurance company in India. Among its other products and services, it offers customised weather-based crop insurance to help farmers cover losses caused by weather damage under its Weather-based crop insurance. The company’s weather insurance comes with multiple features like customisation of insurance products as per the need of weather risk and flexibility for farmers to take up insurance for a particular critical stage of crop growth or for the entire crop cycle. The company has also introduced text messaging for contract farmers to update them about the weather conditions during sowing to the harvesting cycle

Porter Prize on Creating Shared Value

Professor Michael E. Porter and Professor Mark R. Kramer urge leaders to recognize that “shared value is not social responsibility, philanthropy, or even sustainability, but a new way to achieve economic success“. As a step forward in this direction, Shared Value Initiative India recognizes the organisations that are using shared value activities in their business models and bringing a positive change in society . Such organizations are awarded Porter Prize on Creating Shared Value.
The central premise behind creating shared value is that the competitiveness of a company and  health of communities around it are mutually dependent. Recognizing and capitalizing on the connection between societal and economic progress has the power to unleash the next wave of global growth and to redefine capitalism.
Companies create shared value in the following three ways 
The companies are evaluated on measures of Social problem being addressed, Geographical reach and societal activitiesInvestments in community development on businessLinkage between the social problem and company’s competitive position and strategy.

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