PepsiCo India to go ahead with investment plans
Global food and beverage major PepsiCo on Sunday said that it would go ahead with its planned $500 million investment over the next three years.business Updated: Nov 16, 2008 20:35 IST
Global food and beverage major PepsiCo on Sunday said that it would go ahead with its planned $500 million investment over the next three years.
“The global slowdown has mostly affected consumer durables and the financial and banking sectors while there has been no slowdown in FMCG,” said Sanjeev Chadha, CEO, Pepsico India Holdings, on the sidelines of the India Economic Summit organised by the World Economic Forum and the Confederation of Indian Industry (CII) here.
The chairperson and CEO of the company, Indra Nooyi, had made the announcement recently just before the company’s 26-member executive committee — the first time in India — in September.
The investment would go towards manufacturing capacity expansions, agriculture, research and development, marketing infrastructure and ensuring environmental sustainability.
Pepsico has so far invested $700 million in India since its inception in 1989, and provides employment to 1,50,000 people directly and indirectly. It has 43 bottling plants in the country out of which it owns 15 and the rest are franchises. The new investment will add another 50,000 direct and indirect jobs.
“We have the best ever sales in volume terms during the month of September and October and we hope to continue with the trend,” Chadha said.