Coca-Cola to Invest $5 billion in India to Support Long-Term, Sustainable Growth

Atul Singh (L), President and CEO, Coca-Cola India and Southwest Asia and Muhtar Kent, Chairman and CEO, The Coca-Cola Company

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New Delhi – In a major boost for the Indian economy, the US beverage producer Coca-Cola on Tuesday announced it will expand its distribution network and manufacturing capacity in the nation with a population of more than a billion.

Announcing the decision, Muhtar Kent, Chairman and CEO of The Coca-Cola Company, said, “Our ongoing investment in India is focused on delivering innovation, partnerships and a portfolio that enhances the consumer experience, ensures product affordability and builds brand loyalty to deliver long-term growth.”

“Achieving continued sustainable, responsible growth in India is core to achieving our 2020 Vision of doubling system revenues in this decade,” added Kent.

An additional $3 billion will be committed in India through 2020 to further capture growth opportunities in the country’s fast-growing nonalcoholic ready-to-drink (NARTD) beverage market, adding to the company’s already planned investment of $2 billion, bringing the total to $5 billion, said the company.

Atul Singh, President and CEO of Coca-Cola India and Southwest Asia, said, “India is a strategic growth market for The Coca-Cola Company, ranking among our top 10 markets in volume globally and as the largest market in the Eurasia and Africa Group.”

Stressing the importance of the booming economy of one of the world’s most populous countries, Singh said, “Our India business has been growing at a robust rate over the last five years, and our goal is to continue this momentum. The country’s demographics, economic and social parameters are all huge drivers of growth and we have to ensure that we continue to grow our offerings to be the non-alcoholic, ready-to-drink beverage company of choice for local consumers.”

Two of the company’s core sparkling brands, Thums Up and Sprite, are the country’s top selling soft drink brands, while Coca-Cola is one of the country’s fastest growing sparkling brands, most recently reporting 27 percent growth in the first quarter.

The Coca-Cola India system currently directly employs more than 25,000 people and is estimated to have created indirect employment for more than 150,000 people in related industries through its vast procurement, supply chain and distribution system. (IATNS)

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