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PepsiCo Chairman & CEO Indra Nooyi, who is on an India visit, on Wednesday said the country is turning demonetisation into remonetisation.
This morning, Nooyi tweeted, “Innovative India is starting to use digital where cash once dominated, turning demonetisation into remonetisation.”
In an earnings analysis call last month, Nooyi had said demonetisation had a significant impact on the company’s India business in the fourth quarter and that there were still some lingering effects.
She had also said the company hopes that by the time the second quarter rolls by, “we would be through the bulk of the demonetisation challenges. And the new currency and the digital currency will be back in circulation and we’ll be back to normal retail activity.”
Nooyi met Maharashtra Chief Minister Devendra Fadnavis on Tuesday and is expected to meet Prime Minister Narendra Modi too this week.
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