INDIA: Coca-Cola, Pepsi up Indian prices
The price of soft drinks in India is on the rise after both Coca-Cola and PepsiCo raised the cost of their 200ml and 300ml bottles by Rs1.
A 200 ml bottle of either Coke or Pepsi now costs Rs6. A 300 ml bottle now costs Rs7.
The move is a reversal of previous costing policies that have focused on volume rather than value growth.
However, reports in the Indian press suggest that this had become unviable for both companies.
"Though we have increased prices by Re 1, it is not across the country. The price increase has been effected region-wise," Coca Cola India president and CEO Sanjiv Gupta told reporters.
Pepsi said the increased price would be applicable in the South, Mumbai and Delhi. In other parts of the country, the price would remain the same, Pepsi officials said.
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