Coca-Cola India announced today that it plans to invest a further $3bn dollars in India through to 2020 to capture 'enormous growth potential' in the non-alcoholic ready-to-drink (NARTD) market).
The new investment means that the Coca-Cola system will now invest $5bn (€4bn) in India from 2012 to 2020, with Coca-Cola India pointing to "enormous growth potential" for non-alcoholic RTDs in India, with double-digit unit case volume growth in 17 of the past 23 quarters.
Two of the firm's core sparkling brands, Thums Up and Sprite, are India's top-selling soft drink brands; Coca-Cola itself is one of the country's fastest growing sparkling brands, reporting 27% growth in Q1 2012. In still beverages the Maaza brand is India's largest-selling juice drink.
Muhtar Kent, Chairman and CEO, The Coca-Cola Company, said: "Achieving continued sustainable, responsible growth in India is core to achieving our 2020 Vision of doubling system revenues in this decade. Our ongoing investment in India is focused on delivering innovation, partnerships and a portfolio that enhances the consumer experience, ensures product affordability and builds brand loyalty to deliver long-term growth."
The Coca-Cola Company and its bottling partners are planning extensive capital investments in innovation, expansion of distribution network, cold drink equipment placement and boosting of manufacturing capacity.
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."