GLOBAL beverages and snacks major PepsiCo said on Monday (November 11) it will invest Rs 330bn in India by 2020 as it expands its presence in the country.
Since its entry in 1989, PepsiCo has so far invested $2bn in India and the fresh investment is expected to benefit the company’s innovation, manufacturing, infrastructure and agriculture sectors.
PepsiCo chairman and CEO Indra Nooyi told reporters in New Delhi: “India is a country with huge potential and it remains an attractive high priority market for PepsiCo. We believe we have only scratched the surface of long-term growth opportunities that exist for PepsiCo and our partners.”
She added: “The reason we are making investment in India is because we believe India is a terrific growth story and PepsiCo has a great business in India. We believe that the story is still unfolding and we want to grow in India, with India, for India and this investment showcases our confidence in India and its growth prospects.”
India has been one of the top five markets of PepsiCo and it has eight brands which clock turnover of over Rs 10bn in the market.
The company has 42 plants across India and apart from cold drinks Pepsi, 7UP, Mirinda and Mountain Dew, it sells snacks under Lehar, Uncle Chipps and Kurkure brands, among others.
