Wednesday, Mar 30, 2005
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By Our Staff Reporter
Indra Nooyi, President and CFO, Pepsi Co.
NEW DELHI, MARCH 29. The $27-billion global beverage and food company, PepsiCo, today said the company would be investing between $300 million and $500 million in its Indian operations over the next five years and hoped to triple its business in next three to four years. Making this announcement while interacting with newspersons here today, Indra Nooyi, PepsiCo's President and Chief Financial Officer, said the success of "Kurkure" in the Indian market haf prompted the company to introduce the product in the U.S., the U.K., Gulf nations, South Africa and Australia, mainly targeting Indians and non-resident Indians. Stating that "Kurkure" was a classic example of a locally developed product having global market, Ms. Nooyi, who is on a business trip to India, said the product could be manufactured locally adapting to the market demands besides avoiding transportation cost and other overheads. Disclosing that India stood fifth in terms of revenues across PepsiCo's international operations, Ms. Nooyi said so far the company had invested $700 million in India after starting its operations in 1989 and had generated direct and indirect employment for over 60,000 people. The PepsiCo President said its snacks business in India had recorded a five-fold increase in the past four years, while its beverage division now enjoyed leadership position. Allaying fears over health standards of Pepsi's products, Ms. Nooyi asserted that the company's products were the safest and in conformity with global standards adopted by the compny. "PepsiCo generates annual exports from India worth around $60 million. The export basket included chillies, Basmati rice, potato and tomato.
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