PepsiCo plans to invest $500-mn in India

Gurgaon: Global soft-drinks major PepsiCo India said it will invest $500 million in India over the next three years to triple its business in the country.

'As a tangible sign of our continued confidence in India, I am delighted to announce that we will be investing $500 million in the next three years with the goal of tripling our business here,' Pepsico Chairman and CEO Indra Nooyi said here.

She said the investment would be made in various activities such as improving market infrastructure and agricultural capability.

The company has been registering double-digit growth both in volumes and revenues, Nooyi said, adding that in the next three years the company expects to generate 50,000 direct and indirect jobs in the country.

Since its entry in India in 1989, the company has become the fourth largest consumer firm in India.