Coke prepares for robust investments in India
American beverages giant Coca Cola on Monday said the company has a robust investment plan to boost operations in the Indian market.business Updated: May 28, 2007 11:23 IST
Putting behind the worst ever controversies of pesticide in cola, American beverages giant Coca Cola on Monday said the company has a robust investment plan to boost operations in the Indian market.
"We have a very robust and healthy investment plans for the Indian market and major part of investment will go in marketing and setting up of infrastructure to support the system," Coca Cola Co COO Muhtar Kent said.
He, however declined to specify the investment figures but said it would be substantial.
"India did not grow to our expectations in the last couple of years but it has started growing positively since in last three quarters, specially in the first quarter of 2007," he said.
Kent said the future outlook on India was bullish and the company was hoping the country to emerge the third largest market for Coke in the long term. India is not even the top ten countries right now. In its first quarter results, Coke had said growth in India was in 'mid-single' digit.
Speaking on the inauguration of the new world of Coca Cola here, the company's worldwide CEO Neville Isdell said: "Controversies (like pesticides in cola in India) do follow us but we deal with them directly, openly and honestly and move on."
First Published: May 28, 2007 11:21 IST