To invest Rs.33,000 crore between now and 2020
Global beverages and snacks major PepsiCo, on Monday, said it would
invest Rs.33,000 crore in India by 2020 to ramp up operations.
The company, which has so far invested $2 billion in
India since its entry in 1989, said the investment that it was going to
make would strengthen its capability in various strategic areas,
including innovation, manufacturing, infrastructure and agriculture.
“PepsiCo is going to make an investment of Rs.33,000
crore in India between now and 2020, that is $5.5 billion, and the
investment is going to be made in manufacturing, agriculture,
infrastructure and innovation,” PepsiCo Chairman and CEO Indra Nooyi
told reporters here.
Huge potential
“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,” Ms. Nooyi said.
Elaborating further, Ms. Nooyi said: “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.”
Responding to a query, she said: “We are not guided by elections. We
are guided by potential of India. We are not waiting for any election
results to invest in India. We are investing in India for its economic
story.”
In 2010, the company had said it was investing $500 million to sustain
its growth in India, following up on a similar investment it had made
in 2008.
India has been one of the top five markets of PepsiCo,
and it has eight brands which clock a turnover of over Rs.1,000 crore
in the market.
The company has 42 plants across India and apart from
cold drinks such as Pepsi, 7UP, Mirinda and Mountain Dew, it sells
snacks under Lehar, Uncle Chipps and Kurkure brands, among others.
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