14 Nov '11, 6pm

Coke plans billion investment in India

NEW DELHI: World beverage leader Coca-Cola said on Monday it plans to invest $2 billion over five years in India, stepping up its rivalry with PepsiCo in the South Asian emerging market giant. The US-based soft drinks company said in a statement that the non-alcoholic beverage market has enormous growth potential in India, which has a burgeoning young population. "It would not surprise me if India became one of the top five markets globally for the company by the end of the decade," Coca-Cola Eurasia and Africa group president Ahmet Bozer said in the statement. Right now, India, a country of 1.2 billion people, ranks among the multinational giant's top 10 markets by volume globally, Coke said. The brands Coke and US rival PepsiCo dominate India's vast soft drinks market. Coke said the $2 billion investment by the company and its bottling partners will be spread over five y...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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