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Amid the newfound bonhomie in India-Pakistan relationship, it has emerged that American beverages and snack foods multinational PepsiCo has played a role in generating some fizz in bilateral trade ties.
The Pakistan Commerce Secretary, Mr Zafar Mahmood, told Business Line in an interview on Monday that recently the Pakistan Government's Economic Coordination Committee (a Cabinet level decision making committee) had given its approval for import of 12 more items from India. These, he said, included a flavouring powder for food products. “PepsiCo, which manufactures Lay's (potato) chips, had requested for this (flavouring powder for food products) to be imported from India,” he added.
The flavouring powder has now been newly included on Pakistan's positive list of items that are allowed to be imported from India, Mr Mahmood said. He added that with the recent inclusion of the 12 new items, the positive list will grow from 1,946 items to 1,958 items.
Mr Mahmood is in India to hold talks with his Indian counterpart, Dr Rahul Khullar, to chalk out measures to boost bilateral trade ties.
The PepsiCo Chairperson and Chief Executive Officer, Ms Indra K Nooyi, was recently quoted as saying that the company's revenues were around $66 billion and it expects half of its global revenues to come from emerging markets, up from around 40 per cent now. It can be seen that the company's push for broader market access in the Indian subcontinent is part of that aggressive strategy.
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