Coca-Cola Co says India has "great potential"

Coca-Cola Co says India has "great potential"

The Coca-Cola Co will invest an extra US$3bn in India over the next eight years, the company announced today (26 June).

The new injection brings Coca-Cola's planned investment in the country until 2020 to US$5bn. The company announced a $2bn boost in November

“India is a strategic growth market for The Coca-Cola Company, ranking among our top ten markets in volume globally and as the largest market in the Eurasia and Africa Group,” said Coca-Cola India and Southwest Asia president Atul Singh.

“Our India business has been growing at a robust rate over the last five years, and our goal is to continue this momentum.”

A statement from Coca-Cola said the RTD soda market in India has “great potential”.

The company's India unit has posted unit case volume growth in India for the past 23 quarters, with 17 seeing double-digit growth, it said.

Thums Up and Sprite are India's best-selling brands and in the first quarter of this year brand Coca-Cola posted 27% growth year-on-year, the statement said.

“The Coca-Cola Company and its bottling partners have robust plans to capture growth in India with investments in innovation, expansion of distribution network, cold drink equipment placement and augmentation of manufacturing capacity,” the statement added.

In December, Coca-Cola announced it would create an independent unit in India to look after innovation and development.