INDIA: PepsiCo pledges US$5.5bn investment
PepsiCo will sink the money into increased capacity
PepsiCo has said it has “only scratched the surface” of India's potential as it prepares to invest INR330bn (US$5.5bn) in the country by 2020.
The soft drinks and snacks maker will use the money to “significantly increase” capacity and expand selling and delivery infrastructure in India, it announced today (11 November). The company said it will continue to grow its product range through innovation.
“India is a country with huge potential and it remains an attractive, high-priority market for PepsiCo," said PepsiCo CEO & chairman Indra Nooyi. "We've built a highly successful business in India over the course of many years, and we believe we've only scratched the surface of the long-term growth opportunities that exist for PepsiCo and our partners.”
The injection follows PepsiCo's rivals, Coca-Cola Co's plan to make India its fifth-biggest market by 2020 as demand for soft drinks in the country continues to grow. In 2011, a report by The Associated Chambers of Commerce and Industry of India predicted India's non-alcoholic drinks market to grow by 20% a year until 2015.
Last year, Coca-Cola, which has posted annual double-digit volume growth in India over the past six years, said it would invest US$5bn in India by 2020.
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