Pepsi to outlay $500 million in India: Reports

22 Sep 2008

New Delhi: Cola major PepsiCo has outlined plans to invest $500 million into India over the coming three years, according to reports in the media.

News agencies quoted Pepsi CEO Indra Nooyi as saying that the fresh infusion of funds would create thousands of new jobs in India.

The goal of the investment, as outlined by Nooyi, is to triple the India business for Pepsi.

The investment would be spent on enhancing manufacturing capabilities, improving market infrastructure, research, product development, and agriculture.

Pepsi would also look for acquiring local brands and companies, Nooyi said, saying that the soft drinks major had ''billions of dollars'' to target companies in India''. Thus far, PepsiCo has invested $700 million since setting up base in the subcontinent in 1989. It has around 60,000 employees.

PepsiCo India is looking to treble its revenues in the coming five years. Health foods as a segment constitutes 30 per cent of PepsiCo's product portfolio, according to Nooyi, and the company is working towards developing nutritious fortified 40 to 45 products for India and Africa.

It has also initiated a pilot programme that delivers against the UN Millennium Development Goal to eradicate poverty by 2015.

For its India business, PepsiCo will look to introduce a balanced product portfolio, bringing in products from the quaker platform, additional fruit juices and hydration brands, the reports said.