Coca-Cola has announced plans to invest an additional Rs165bn ($3bn) in India by 2020, in a bid to secure a larger share in the country's non-alcoholic ready-to-drink (NARTD) beverage market.
With the new investment, the beverages giant now plans to invest a total of $5bn in the country between 2012 and 2020. The money will be used to invest in innovation, expand the distribution network and cold drink equipment placement, and to enlarge the manufacturing capacity.
Coca-Cola India and south-west Asia president and CEO Atul Singh said India is a strategic growth market for the company, as it ranks among its top ten markets globally.
"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," Singh added.
In November 2011, Coca-Cola announced plans to invest $2bn along with its partners in India over the next five years to enhance its business operations, which included setting up a new production facility.
According to the beverage manufacturer, it will invest more than $30bn worldwide over the next five years to support the growth it predicts.
Coca-Cola currently operates 56 plants in India, of which 21 are franchise plants, 23 are company-owned and 12 are contract packaging plants.
It sells a variety of carbonated and non-carbonated drinks in the country, including Coca-Cola, Thums Up, Sprite, Maaza and Minute Maid.
Image: Coca-Cola India and south-west Asia president and CEO Atul Singh (left) and Coca-Cola chairman and CEO Muhtar Kent.
Photo: The Coca-Cola Company.