PepsiCo has reportedly announced plans to invest US$500m in India over the next three years.
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According to a report in Indian newspaper The Economic Times, PepsiCo CEO Indra Nooya told reporters at a news conference in the country’s capital New Delhi that the company’s business had not been affected by the economic downturn in the US.
“The problems of Wall Street has not rippled over to the main street,” she reportedly said, ahead of a two-day meeting of the company’s 26-member senior leadership team in India. “Our business continues to be quite robust.”
PepsiCo has indicated that it plans to derive an increasing proportion of its revenue in emerging markets. Nooyi reportedly said that the company will invest in India with the aim of tripling PepsiCo’s business in the country.
“As a tangible sign of our continued confidence in India, I am delighted to announce that we seek to invest a further $500m over the next three years with the goal of tripling our business,” India-born Nooyi was quoted as having said.
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By GlobalDataPepsiCo, which entered India in 1989, has invested more than $700m in the country.
The US food and beverage giant was unavailable for comment as just-food went to press.
