NEW DELHI, Nov. 11, 2013 /PRNewswire/ -- PepsiCo, Inc., one of the largest food and beverage businesses in India, today announced plans for the company and its partners to invest Rs. 33,000 crores ( US$5.5 billion) in India by 2020.
Making the announcement, PepsiCo Chairman and Chief Executive Officer Indra Nooyi said: " India is a country with huge potential and it remains an attractive, high-priority market for PepsiCo. 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. This investment is PepsiCo's vote of confidence in India's future and it represents our deep commitment to this great country."
India currently represents one of PepsiCo's largest markets globally. This Rs. 33,000 crore investment is expected to further strengthen and expand PepsiCo's capabilities in the following strategic areas:
- Innovation : PepsiCo will continue to expand the range of foods and beverages in its portfolio to cater to the wide and evolving needs of Indian consumers. PepsiCo has a long history of successfully innovating for the Indian market, and PepsiCo India already has organically built eight brands that generate Rs. 1,000 crores or more in estimated annual retail sales (Pepsi, Lay's, Kurkure, 7UP, Slice, Mirinda, Mountain Dew and Aquafina).
- Manufacturing : PepsiCo plans to significantly 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.
- Infrastructure : 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.
- Agriculture : Resources will be allocated to expand PepsiCo's well-known collaborative farming program, which provides farmers with access to good quality seeds, technical agronomic expertise, bank loans and crop insurance. This program currently reaches 24,000 farmers, positively impacting their income and social standing in addition to strengthening the reliability and quality of PepsiCo's supply chain.