Industry & Economy
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Beverages
PepsiCo chief coming
Sindhu J. Bhattacharya
New Delhi
,
Sept. 23
AFTER the heat and dust created by the Coca-Cola Company Chairman and CEO, Mr E. Neville Isdell's recent visit to India, it seems the PepsiCo boss is also India bound.
The Chairman and CEO of PepsiCo, Mr Steve Reinemund, is likely to visit India next month.
Industry sources said Mr Reinemund's visit signifies the increasing importance of India as a healthy growth market for the soft drink major.
During his stay, Mr Reinemund is expected to meet several stakeholders including managers and bottlers in the country.
They said while his schedule was not finalised as yet, the PepsiCo worldwide chief was likely to also visit other emerging markets in Asia including China.
In the second quarter ended June 2004, PepsiCo International's total beverage volume grew 13 per cent, led by double-digit growth in markets including China and India.
Sources said PepsiCo India's carbonated soft drink volume growth in India over the first six months this year has been a healthy 20 per cent.
Besides, coming at a time when volume growth has been healthy, Mr Reinemund's visit also assumes significance since it comes close on the heels of PepsiCo India's decision to reverse the five rupee price point in select markets in August this year.
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