New Delhi, Nov 11 (IANS) Global beverage giant PepsiCo Monday said it will invest Rs.33,000 crore ($5.5 billion) in India by 2020 to expand its manufacturing and distribution capacity in Asia’s third largest economy.
“India is a country with huge potential and it remains an attractive, high-priority market for PepsiCo,” PepsiCo Chairman and Chief Executive Officer Indra Nooyi told reporters here.
She said the investment will be made in expanding manufacturing capacity, agriculture, infrastructure and innovation.
“We have built a highly successful business in India over the course of many years, and we believe we have only scratched the surface of the long-term growth opportunities that exist for PepsiCo and our partners,” Nooyi said.
“This investment is PepsiCo’s vote of confidence in India’s future and it represents our deep commitment to this great country,” she said.
US-based PepsiCo that entered into the Indian market in 1990 has invested so far $2 billion in the country.
PepsiCo plans to increase manufacturing capacity to meet the growing demand for its foods and beverages. PepsiCo and its partners plan to expand their production capacity in India to more than double current levels by 2020, a company statement said.
“PepsiCo and its partners plan to ramp up selling and delivery infrastructure throughout the country, with a particular focus on rural market expansion. As part of this strategic initiative, PepsiCo will work with its partners to deploy new technologies designed to enhance service to retail customers and increase efficiency across go-to-market systems,” it said.