The world’s largest soft drinks maker, on Thursday said it won’t slow down its $5 billion investment plans in India despite the current slowdown, saying it expects the country to be in its top five global markets within the next seven years.
The company, which is celebrating 20 years of operations in India since its re-entry in 1993, however, said it is exploring “other options” for its proposed new plant in Karnataka owing to land acquisition issues.
“There is no slowdown in the execution of our investment plans in India, we don’t look at one year. The government is doing what it can, and we are confident India will come out of it,” Coca-Cola International president Ahmet C Bozer said.
He said the world is currently undergoing an economic transition and problems faced by India are not unique to the country and most of the emerging market are facing similar situations.
Last year, the Atlanta-based beverages giant had announced that it would more than double its investment in India to $5 billion by 2020.
The investment, higher by $3 billion from the previous announcement made in November 2011 for a period of five years, was meant for various activities.
At present, India is Coca-Cola’s seventh largest market.