The Chief Executive Officer (CEO) of PepsiCo's India and South Asia Jagrit Kotecha has said that the company is going on a target of doubling its revenue in India in the next five years. The company is looking at India as a major market, where it is making aggressive investments to increase its capacity.
Kotcha said that India will be an increase in increasing global revenue for PepsiCo, as it is one of the top three markets for the company, where it is registering a double -digit growth. PepsiCo introduces food, breakfast and beverage products.
Kotcha said that PepsiCo has invested in new plants in Uttar Pradesh and Assam, which aims to be ahead of demand. He said that the company will not back down from investment in India and is planning to open two more plants, one of which will be in the southern region.
Kotcha said, we believe that India will be an increase engine for PepsiCo and will carry forward the top line. Yes, it is not as big as North America because it is a very developed category. Currently, India is one of the top 15 markets globally for PepsiCo. Kotcha hopes that the country will go up in the ranking, although he did not share any specific estimates.
India is one of the major major markets for the company in Harrison, New York, where it re -entered the 1990s after a gap of 28 years. According to Kotecha, PepsiCo is in line with the 2030 target of Prime Minister (Narendra Modi) that India will then be included in the top three economies in the world.
PepsiCo is working on three strategic columns, which she says fast, strong, better. The company has divided India into nine groups based on taste. In addition, it is also making sure to be aware of the planet with sustainable solutions and construction capabilities.
When asked about the deadline to achieve revenue of $ two billion (about Rs 17,000 crore) in the Indian market, Kotcha said, this is a goal. We have aspiration to reach there. If we do everything right with the infrastructure of India, then I think this goal can be achieved.
He said, therefore, we are more than Rs 5,950 crore in 2023 (for nine months due to change in the financial year) and since then we are growing in the double digits from there. And if we continue to do so. Therefore, we are seeing what our number should be by that time.
In the year 2023, PepsiCo adopted the calendar year as the financial year to suit its global results. Therefore, in 2023, it recorded a revenue of about Rs 5,950 crore for the period from April to December. Overall, after adding the remaining of the January-March quarter based on the revenue of the previous year, it will be around Rs 8,200 crore.
In addition, PepsiCo's bottling partner Varun Beverages, which gets 90 percent of PepsiCo India's beverage sales quantity, recorded revenue on a single basis of Rs 12,778.96 crore in 2023. In the last three years, PepsiCo has invested around Rs 3,500-4,000 crore in the Indian market. Apart from this, PepsiCo's bottling partner Varun Beverages Limited (VBL) is also investing a lot.
The beverage introduces brands such as mountain de, 7 up, pepsi, and sting and sports beverage products in the field, while juices have its tropicana and slice brands. Crackure, Lease, Quaker and Doritos are also its brands. The value of the Indian beverage market is around $ 12 billion and it is growing with an annual rate of 10-11 percent.
