Coca-Cola India to invest $5bn by 2020
Coca-Cola India is on course to invest $5bn in India by 2020 to further capture growth opportunities in the packaged beverage market.
The announcement comes in the wake of its 20 years celebration in India. The cola giant has invested $2bn in the country between 1993 and 2011.
The Coca-Cola Company Coca-Cola International executive vice president and president Ahmet Bozer said that their investments in India are on track as they build scale, manufacturing capacity, distribution capability and a robust product portfolio to realize their business goals in India.
"Our ongoing investment in the country is focused on delivering innovation, partnerships and a beverage portfolio that enhances the consumer experience, ensures product affordability and builds brand loyalty to deliver long-term growth," Bozer added.
"If we continue to focus on doing the right things in this market, India could emerge as a top five market for The Coca-Cola Company by 2020."
Coca-Cola has opened its franchise bottling plant in Greater Noida, Uttar Pradesh. The plant joins the company's 56 manufacturing plants within the Coca-Cola system in India.
Owned and operated by Moon Beverages, the plant was commissioned with an investment of INR1.4bn ($23m).
The bottling plant has four lines - a can line to manufacture Sparkling beverages, a still beverage line and two lines to manufacture packaged drinking water.
The still beverage line will produce juice and still beverages - value added water & sports drink - using advanced combi-block line.
The Coca-Cola Company pacific group deputy president Atul Singh said: "Along with our bottling partners we are aligned to build a long term, sustainable business in India rather than working on short term quick fixes to meet quarterly targets."