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India strategic investment plans intact: Coca-Cola
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SME Times News Bureau | 20 Apr, 2021
Beverage major Coca-Cola Indias strategic investment of building long
term presence in India is intact, a senior company executive told IANS.
The-newly
appointed President of Coca-Cola India and South West Asia, Sanket Ray
said: "We firmly believe that India as a market has phenomenal business
potential over the long term.
"Our strategic investment of
building long term presence in India is intact. To capture this growth
potential, our journey forward will require new investments, new
capabilities and new business models, all supported by an eco-system of
new local partnerships."
Notably, the company has completed its
planned investment of $5 billion announced in 2012 for retail
infrastructure creation, bottling plants and introduction of new
products, amongst others.
Since its re-entry into India in 1993 till 2011, Coca-Cola invested $2 billion in the country.
Besides,
it has committed an investment of $1.7 billion towards creating a
"Fruit Circular Economy" aiding the Indian agri-ecosystem till 2023.
Furthermore,
underlying the importance of India's marketplace, Ray cited, that in
the newly created networked structure, INSWA (India and South West Asia)
has become one of the nine operating units directly reporting to
US-based beverage major's Head Quarters.
Recently, in a thorough restructuring exercise the company created new operating units focused on regional and local execution.
Through
the restructuring process, the company expects faster execution of
projects in India and to further digitise its business.
Segment wise, Ray pointed out that ‘home consumption' category has remained robust and growing.
"We
are working with our ‘out of home' customers to revive the business in a
safe way. For the ‘at home consumers', we are introducing new offerings
and packs especially multi packs and affordable entry home packs."
In
addition, he said that the company will concentrate on increasing its
digital footprint both in urban as well as in the rural market.
"Through
our tie-up with ‘Common Services Center', we have ensured rural
last-mile delivery by listing all our popular products on their ‘Grameen
e-store platform' – thereby building least-expensive solutions to
essential hydration needs."
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Import |
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US Dollar
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| As on 12 Oct, 2024 |
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