PepsiCo Plans to Double Revenue in India with Aggressive Investments

New Delhi (The Uttam Hindu): PepsiCo aims to double its revenue in India over the next five years, with the country positioned as a "key anchor market" for its global growth. Jagrut Kotecha, CEO of PepsiCo India & South Asia, shared that the company is making substantial investments to expand its capacity and meet the booming demand in the local market.

India is now one of the top three markets for PepsiCo, experiencing double-digit growth. The company has already invested in greenfield plants in Uttar Pradesh and Assam and plans to open two more facilities, including one in the southern region. These moves come as PepsiCo seeks to enhance its competitiveness and capitalize on India's growing consumer market, where per capita consumption remains low.

With a focus on expanding its market share in both the food and beverage segments, PepsiCo's India operations saw a double-digit organic revenue growth in 2023-24, with 80% of revenue coming from food products and the rest from beverages. The company also plans to leverage its strong partnership with bottling partner Varun Beverages Ltd to boost production capacity and market reach.

In response to growing competition, including new player Campa Cola, Kotecha emphasized that the category's growth would benefit the market, and PepsiCo aims to focus on consumer-centric strategies to stay ahead.

PepsiCo’s long-term vision for India is to reach $2 billion (around Rs 17,000 crore) in revenue, with the company confident about its ability to achieve this goal as infrastructure and investments continue to grow.

The Indian beverage market, valued at around $12 billion, is expanding at a CAGR of 10-11%, providing a solid foundation for PepsiCo's aggressive growth strategy in the region.