PepsiCo aims to double its revenue in India over the next five years, viewing the country as a ‘key anchor market’ where it is making “aggressive” investments to expand its capacity, its India & South Asia CEO Jagrut Kotecha said.
India will be the “engine of growth for PepsiCo” in driving its global revenue, as it ranks among the top three markets for the food, snack, and beverage multinational, where the company is experiencing double-digit growth, Kotecha shared in an exclusive interview with PTI.
PepsiCo has invested in greenfield plants in Uttar Pradesh and Assam, focusing on staying ahead of the demand curve, Kotecha said, adding the company will not be “investment shy” in India and plans to open two more facilities, including one in the southern region. Over the past three years, PepsiCo has invested nearly Rs4,000 crore in the Indian market.
India is among 13 to 15 “anchor markets” PepsiCo has identified for substantial future growth. The country is poised to climb higher in the company’s global rankings, though Kotecha declined to specify projections. ‘We need to double down and continue investing aggressively to capture the opportunity,’ he said.
The company’s Indian operations revolve around three strategic pillars: expansion at scale, sustainability, and localized offerings. PepsiCo has divided India into nine clusters based on taste preferences and is integrating sustainable practices into its operations. The company reported double-digit organic revenue growth last month, driven by strong performances in the snack and beverage segments.
PepsiCo’s bottling partner, Varun Beverages Ltd. (VBL), is also investing heavily, operating 41 plants and increasing capacity by 25% this year alone.
India’s $12 billion beverage market is expanding at a compound annual growth rate of 10-11%, attracting new players like Reliance’s Campa Cola, which is disrupting the space with competitive pricing. Kotecha welcomed the competition, saying it would drive category growth and encourage more consumers to shift from unbranded products.
PepsiCo’s India portfolio includes brands such as Lay’s, Kurkure, Quaker, and Doritos in the snack segment, and Mountain Dew, 7UP, Pepsi, and Tropicana in beverages. Currently, food products contribute about 80% of the company’s revenue in India, with beverages accounting for the rest. With steady investments and a growing market, PepsiCo is positioning itself as a dominant player in India’s evolving food and beverage landscape.
