It's Unilever vs. P&G in India

Procter & Gamble may be a bit late to the party, but CEO Bob McDonald says India ranks among the most important emerging markets to invest in, thanks to a billion-plus population and the quality of local operations, according to an interview in The Economic Times.

P&G's business in India is growing 20% a year and is worth $1 billion. Now, the company is committed to investing over a billion dollars over five years in terms of capital and marketing, according to McDonald. Seven new categories were recently added to the India portfolio of the multinational FMCG giant, bringing the total number of segments it operates in to 14.

Despite the gains, P&G trails its archrival Unilever, which is four times P&G's size in India.