INDIA: Coca-Cola Co pledges US$2bn India investment
Coca-Cola said India is “a strategic growth country” for the firm
The Coca-Cola Co has said it will invest US$2bn in India over the next five years in a bid to expand its soft drinks and RTD presence in the market.
Coca-Cola India will work with its bottling partners to invest in consumer marketing and brand building, expansion of distribution and cold drink equipment placement, in addition to the development of manufacturing capacity, the company said today (14 November). Investment will begin in 2012.
Coca-Cola said India is "a strategic growth country" for the firm, ranking among its top ten markets in volume globally.
"The opportunity in the packaged beverage segment is immense, and our efforts in India are focused on being the beverage of choice all day, every day," said Coca-Cola's president of Eurasia and Africa group, Ahmet Bozer.
"If we continue to do the right things each day and at all times, it would not surprise me if India becomes one of the top five markets for the company globally by the end of this decade," Bozer added.
The investment will equal what the company has spent in the past 18 years in the country. Coca-Cola currently employs around 25,000 people in India.
According to a report by The Associated Chambers of Commerce and Industry of India, the country's non-alcoholic drinks market is set to grow by 20% per year between now and 2015.
The American Beverage Association (ABA) has launched a fightback against adverts linking soft drinks to obesity with a campaign highlighting the healthier options the industry is offering. ...
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