Republic Day Reflections: How Marico & MIF are Going Beyond Business to Build a Stronger India

On India’s Republic Day, commemorating the principles enshrined in our Constitution provides a powerful framework for responsible corporate citizenship. Businesses operating within this framework contribute not only to economic growth but also to the creation of a just and equitable society.

Since its inception, Marico has been guided by a purpose that transcends profit maximisation—to make a difference to all stakeholders. This commitment drives the organisation to embody constitutional values such as dignity and scientific temper in its business practices, organisational culture, and relentlessly focus on growth through purposeful brands and environmental sustainability.

Our purpose we had (sic) identified around the year 2000 was to make a difference to all the stakeholders…We didn’t wait for the CSR spending to do work on the area of improving coconut farming, productivity, or driving innovation because it came from within – the belief that the role of the corporate is beyond just making money. It has to have a big impact on the society and to all the stakeholders because companies and businesses are big drivers of change within society.

– Harsh Mariwala, Chairman, Marico Limited, on the organisation’s approach to doing good, in an interview with the Economic Times

In recognition of the responsibilities of corporate citizens, Marico established the Marico Innovation Foundation (MIF) in 2003, predating formal CSR mandates. MIF’s vision is to identify, nurture, and catalyse groundbreaking Indian innovations with the potential to create large-scale social, economic, and environmental impact for millions of people. Through numerous structured initiatives, Marico and MIF have since done considerable work in fulfilling social and environmental responsibility, both within and beyond business operations.

Purpose Beyond Profit

Marico’s approach to corporate citizenship includes proactive initiatives like the 2030 target for emission neutrality in Indian operations, being achieved through the integration of sustainability within operations. This encompasses reimagining business models, redesigning factories (like Marico’s carbon-neutral factory in Perundurai, Tamil Nadu operated 100% on renewable energy), and prioritising water stewardship (as seen in the water-neutral factory at Jalgaon, Maharashtra). Furthermore, Marico champions Diversity, Equity, and Inclusion through gender-neutral policies and a focus on talent diversity in key decision-making roles.

Given the integral role that plastic plays in an FMCG business such as Marico, creating a circular economy for plastics is a top priority for the organisation. Under the Upcycle Program, the organisation has achieved a significant milestone of 95.30% of packaging materials used in 2023 being recyclable. Marico also recognises its industry influence and responsibility to drive circularity for plastics beyond its own operations. Therefore, India’s plastic waste management challenge forms a key focus area for CSR efforts under MIF as well. 

Key MIF initiatives in this space include catalysing a landmark collaboration for plastics circularity between Re Sustainability, Asia’s leading integrated sustainability solutions provider and Sharrp Ventures, the investment office of the Harsh Mariwala family. This collaboration aims to capture and process 32,000 tonnes of waste, reduce 15,000 tonnes of CO2 emissions annually, and produce a reliable supply of ~9,000 tonnes of superior recycled polymers each year for FMCG and other applications.

MIF has also spearheaded the development of a groundbreaking report titled ‘Innovation in Plastics: The Potential & Possibilities,’ in collaboration with the Indian Institute of Science and Praxis Global Alliance. Covering ecosystem analyses, potential solutions, case studies, funding, and existing innovations, the report offers a comprehensive, contemporary playbook to stakeholders dealing with plastics and waste.

Corporate Social Responsibility, for and of Itself

MIF’s core mission is to cultivate a thriving innovation ecosystem in India. A critical step towards this goal is identifying and supporting groundbreaking innovators as they scale their impact. This is achieved through two key initiatives:

• Scale-Up: MIF’s no-equity accelerator program for innovative startups on their INR 1-100 crore annual revenue growth journeys in the plastic waste management, clean technology, and agri-technology spaces. So far, 100+ strategic and functional mentors have offered bespoke, deep-rooted mentorship to a portfolio of 30+ startups,  including several award-winning innovations, and Atomberg and S4S Technologies two soonicorns (companies with INR 100+ crore in annual revenue).
• Indian Innovation Icons: MIF’s biennial awards platform that recognises currently hidden, potentially game-changing Indian innovations creating socio-economic or environmental impact. So far, over 70+ disruptive innovators have been awarded across the categories of business, social impact, and global game-changers, and the 10th edition of the awards is scheduled for March 2025.

MIF’s initiatives foster a thriving entrepreneurial ecosystem in India by connecting expertise and early-stage entrepreneurship. It also inspires new opportunities for a young purpose-driven India that seeks to cash in on its demographic dividend.

A Continued Commitment

For its many decades of setting examples on corporate citizenship, the Marico group has received several recognitions including the Economic Times Corporate Citizen of the Year Award, 2022, the best CSR project in the Education category awarded by FICCI, and recognised among the top five water positive companies in the 2021 Capri Global Capital Ltd HURUN INDIA Impact 50 List in alignment with the UN’s Net Positive approach.

As India approaches Republic Day, we celebrate the nation’s vibrant, dynamic, and diverse achievements and recognise the critical challenges that lie ahead in our social, economic, and environmental realities. Committed to responsible corporate citizenship, Marico Innovation Foundation and the Marico group at large will continue to drive change, empower communities, and nurture the spirit of innovation to propel our great country forward.