June 28, 2012
Coca-Cola identifies India as Long-Term Strategic Growth Market
Photo: New Delhi, India, June 26, 2012 - L to R: Atul Singh, President and CEO, Coca-Cola India and Southwest Asia and Muhtar Kent, Chairman and CEO, The Coca-Cola Company.
The Coca-Cola Company and its bottling partners have robust plans to capture growth in India with investments in innovation, expansion of distribution network, cold drink equipment placement and augmentation of manufacturing capacity. The Company has announced that the Coca-Cola system will invest a total of $5 billion in India from 2012 to 2020.
The Coca-Cola system has already invested more than US$2 billion in India since it re-entered the country in 1993. Today’s announcement brings the total investment number to US$7 billion since reentry into India. The Coca-Cola India system currently directly employs more than 25,000 people and is estimated to have created indirect employment for more than 150,000 people in related industries through its vast procurement, supply chain and distribution system.
Atul Singh, President and CEO, Coca-Cola India and Southwest Asia, said, “India is a strategic growth market for The Coca-Cola Company, ranking among our top 10 markets in volume globally and as the largest market in the Eurasia and Africa Group. Our India business has been growing at a robust rate over the last five years, and our goal is to continue this momentum. The country’s demographics, economic and social parameters are all huge drivers of growth and we have to ensure that we continue to grow our offerings to be the non-alcoholic, ready-to-drink beverage company of choice for local consumers.”
Posted by Editors at June 28, 2012 3:40 AM | Link to this Post