Coca Cola to pump in US$ 250 mn in India over next three yearsJuly 4th, 2008 - 9:18 pm ICT by IANS
Kolkata, July 4 (IANS) Beverage giant Coca Cola would pump in US$ 250 million in India over the next three years, focussing on its brands in the sparkling beverage, juice, juice drinks, water and tea and coffee categories. Disclosing this on the sidelines of a function here Friday, president and Chief Executive Officer of Coca Cola India Atul Singh said the company considered India as strategically important in its global business ventures.
“We have invested close to US$ one billion in India over the last ten years. We intend to infuse US$ 250 million over the next three years,” Singh said.
“We will utilise the investments for promoting our brands and buying equipment,” he said.
Asked whether the company had any region-specific plan in India, the top official avoided a direct reply, saying “We have lot of options”.
Coca Cola India has registered phenomenal growth in the last seven quarters, and grew by 13 percent in terms of unit case volume in the fourth quarter of the last financial year, a company official said.
Coca Cola is the market leader in India in the sparkling drink category, with a market share of over 60 percent.
Company sources said the strategy to focus on beverages in the country is based on the vast untapped potential in the segment.
As per an estimate, 120 billion liters of beverages are drunk every year in the country, of which the share of the packaged beverage industry is only four percent.
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