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PepsiCo announces $5.5bn investment for India
November 12, 2013, 9:31 am


India is one of PepsiCo’s largest global markets [AP]

US food and drinks giant PepsiCo is to invest $5.5 billion in India, one of its largest global markets, by 2020.

“PepsiCo’s faith in the India growth story remains unscathed,” PepsiCo Chairman and CEO Indra Nooyi told Indian daily Times of India.

The company said it would diversify more funds towards expanding their product range, doubling production capacity and improving their sales and distribution network, especially in rural markets.

“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,” Nooyi said.

PepsiCo said it generates more than 10 billion rupees in annual sales from eight products including Pepsi and Frito-Lay potato chips.

The company has 38 bottling plants and three food plants in India.

The global giant has seen sustained declines in the US soda market but reported higher quarterly earnings in October due to its successful snacks business in Asian markets and large global reach.

Pepsi’s net income was $1.91 billion, or $1.23 per share, in the third quarter, up less than one per cent from $1.90 billion, or $1.21 per share a year earlier.

PepsiCo operates worldwide beverage, snack and food businesses.

Source: Agencies

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