PepsiCo is setting ambitious goals for its India operations, aiming to double its revenue within the next five years. The company sees India as a crucial growth market and is making bold investments to expand its production capacity, according to Jagrut Kotecha, CEO of PepsiCo India & South Asia.
India is emerging as a major revenue driver for the global food and beverage giant, ranking among its top three markets worldwide. With strong double-digit growth, the country is playing a central role in PepsiCo’s global expansion plans, Kotecha told PTI in an exclusive interview.
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To keep up with rising demand, PepsiCo has already set up new manufacturing plants in Uttar Pradesh and Assam. The company is committed to further investments and has plans to open two more facilities, including one in southern India. “We’re not going to hold back on investments here. India is a high-potential market, and we’re making sure we stay ahead of the curve,” Kotecha said.
He emphasized that while India’s market size isn’t yet on par with North America, the country’s per capita consumption of PepsiCo’s products remains low, leaving plenty of room for growth. “Given the pace at which India is developing, we expect it to be one of our fastest-growing economies,” he noted.
Currently, India is among the top 15 global markets for PepsiCo, but Kotecha expects it to climb even higher. However, he did not disclose specific revenue projections.
PepsiCo, which re-entered India in the 1990s after a 28-year hiatus, considers the country one of its key strategic markets. “We’ve identified around 13 to 15 anchor markets that will drive our next phase of global growth, and India is one of them,” Kotecha said.
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He also pointed out that PepsiCo aligns well with India’s long-term economic vision. “India is on track to become one of the world’s top three economies by 2030. It’s a stable and growing market, and we’ve built a strong presence here over the past three decades. Now, it’s about scaling up and accelerating our investments,” he added.
PepsiCo is focusing on three core strategies—speed, strength, and sustainability. The company has divided India into nine distinct regions based on consumer taste preferences, ensuring its products cater to local palates. At the same time, it is implementing eco-friendly initiatives to reduce its environmental impact.
Last month, PepsiCo reported strong double-digit organic revenue growth in India, with an increasing market share in both snacks and beverages.
When asked about the timeline for reaching $2 billion (around ₹17,000 crore) in revenue, Kotecha called it an aspiration rather than a fixed target. “We see the opportunity. If we execute well and India’s infrastructure keeps evolving, we believe we can get there,” he said.
In 2023, PepsiCo transitioned to a calendar-year reporting format, posting revenue of approximately ₹5,950 crore for the April-December period. If adjusted for the full year, the total would be closer to ₹8,200 crore.
Meanwhile, Varun Beverages, PepsiCo India’s key bottling partner, recorded ₹12,778.96 crore in standalone revenue last year, contributing significantly to the company’s beverage sales in India.
