New Delhi: The Coca-Cola system will invest an additional $3 billion in India through 2020 to further capture growth opportunities in the country's fast-growing NARTD beverage market. With the new $3 billion investment, the Coca-Cola system now plans to invest $5 billion in India from 2012 to 2020.
"Achieving continued sustainable, responsible growth in India is core to achieving our 2020 Vision of doubling system revenues this decade," said Chairman and CEO Muhtar Kent, who announced the investment yesterday during a media briefing in New Delhi. "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."
Coca-Cola India has delivered unit case volume growth for the past 23 quarters, including 17 quarters of double-digit growth. Two of our core sparkling brands in India - Thums Up and Sprite - are the country's top-selling soft drink brands. Coca-Cola is one of the country's fastest-growing sparkling brands, most recently reporting 27 percent growth in the first quarter. In the still beverage category, Maaza is India's top-selling juice drink.
The system has invested more than $2 billion in India since re-entering the country in 1993. Yesterday's announcement has brought the total investment to $7 billion since re-entry into India.
The Coca-Cola India system directly employs more than 25,000 people and creates indirect employment for 150,000 people in related industries through its procurement, supply chain and distribution system. The investments announced yesterday will further catalyze economic growth and create new opportunities for local communities.
Atul Singh, President and CEO, Coca-Cola India and Southwest Asia, noted that India ranks among our top 10 markets in volume globally and is the largest market in the Eurasia & Africa Group.
The Coca-Cola system's robust growth plans in India include investments in innovation, distribution, cold drink equipment and manufacturing capacity. And recognizing that the business can only be as strong and successful as the communities we proudly serve, Kent stressed that our growth strategy will be comprehensive and sustainable.
"At Coca-Cola, we're eager to do our part to help crack the calculus for sustainable growth and development - creating shared value for all," he said.
The Coca-Cola system has a long history of partnership with NGOs in India on community development and sustainability initiatives. As a system, Coca-Cola has now achieved a net zero balance with regard to groundwater usage in India. Coca-Cola also is well integrated with local Indian communities and is a valued contributor to economic and social growth. The Company and its bottling partners are strong supporters of education through programs like the Coca-Cola Support My School campaign in India, which has created more than 100 model schools. India is also piloting our 5 BY 20 initiative to enable the empowerment of 5 million women entrepreneurs globally by 2020.