Team News Riveting
Food and beverages major PepsiCo company will double its snacks business in India.
Besides, the company will also increase the capacity of existing food plants in West Bengal and Maharashtra, and it has additionally proposed to set up a greenfield manufacturing facility in Assam.
“Looking ahead, the company is committed to double its snacks business in India,” a top company official said. It increased investment in new greenfield snacks plants in Uttar Pradesh from Rs 500 crore to nearly Rs 814 crore; generating 1,500 direct and indirect jobs and enabling a local sourcing ecosystem.
The company is “extremely optimistic” about the future of the Indian market despite short-term headwinds due to pandemic-related disruptions. The company is increasing investment at its new greenfield snacks plant in Uttar Pradesh to meet the rising demand.
In 30 years after entering into Indian market, PepsiCo India has emerged as one of the largest food and beverage companies in the country. India’s consumption story has just started and according to industry reports, India will be the third-largest consumption market by 2025, the company official said.
As the festive season begins, the company expects an enhanced demand from categories like snacks, juices and other carbonated beverages led by the sentiment of celebration.
