Gurgaon: US-based beverages and food company PepsiCo Inc. will invest $500 million (Rs2,315 crore) in India over the next three years, with an eye on trebling revenues over five years from Indian operations, chairperson and chief executive Indra Nooyi said on Sunday.
In town for PepsiCo’s annual executive committee meeting, Nooyi said the areas of investment will be manufacturing, agriculture, market infrastructure “along with initiatives for human, environment and talent sustainability”.
Nooyi would not specify how much India contributed to Pepsi’s revenues. “Over the next five years, India will be in the top five markets,” she said, adding growth is in the double digits.
PepsiCo has already invested more than $1 billion in India so far and had announced a similar investment of $500 million in 2001 for five years.
Growth plans: PepsiCo chairperson and chief executive Indra Nooyi. Madhu Kapparath / Mint
Several new product launches are planned but the company would not specify a single one. Sanjeev Chadha, chief executive officer of PepsiCo India Holdings Pvt. Ltd, said the company plans to enhance its focus on health products.
PepsiCo also announced a pilot project in India, South Africa and Nigeria that will focus on reaching young women with nutritious products to fight malnutrition.
Environmentally, Nooyi said, Pepsi is looking to achieve a positive water balance—replenishing all the water it consumes—in India by 2009. The company has fought negative publicity over depleting water resources globally. Nooyi said the new investment will contribute 50,000 new jobs and said Pepsi currently provides direct and indirect employment to 150,000 people in India.
vijaya.r@livemint.com