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 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.”