PepsiCo board to meet in India for the first time
04 Nov 2009
The board os PepsiCo Taj Mahal, Mumbai, will host the board of the global cola major
The unprecedented 50 per cent growth in the country's beverage market during the September quarter may just have prompted the Atlanta-headquartered major to conduct its annual board meeting in Mumbai this year. The global cola giant has decided to hold its board meeting in Mumbai from November 11 to 13. The company has been on track with doubling investments to $220 million.
The India-born chairman of the board and CEO, Indra Nooyi, is scheduled to spend almost a week in India - first in New Delhi as the co-chair of the World Economic Forum and then in Mumbai to chair the board meet.
India is one of the few markets where the company has been able to generate high double-digit volume growth, despite a consistent rise in input costs. Of the $220 million investment earmarked for 2009, $170 million would be brought in by the company and the remaining by its bottlers.
In fact, this is by far the largest investment made by PepsiCo in its beverage business since entering India in 1989. The growth reported by Pepsi in India appears to be spread across the company's product portfolio - carbonated soft drinks, juices, juice-based drinks, sports drinks and water.