India investment plan on track: Coca-Cola President

India could become one of the top 5 coke guzzling countries in 7 years

Cans of Coca-Cola are shown on a countertop at Chuck's Beverage and Wine in Chagrin Falls, Ohio on Monday, Oct. 19, 2009. Coca-Cola said Tuesday, Oct. 20, 2009, its third-quarter profit declined less than 1 percent, as sales fell as consumers continued to limit soft drink purchases and the stronger dollar took a toll on revenue.(AP Photo/Amy Sancetta)

Coca-Cola has said it will not slow down its plans to invest $5 billion in the country by 2020. Rather, it expects to see India emerge among its top five global markets within the next seven years.

“There is no slowdown in the execution of our investment plans in India. We don’t look at one year. Government is doing what it can to come out of the situation and we are confident that India will come out of it,” Coca-Cola International President Ahmet C. Bozer told reporters here on Thursday.

He said the world was now undergoing an economic transition and problems faced by India were not unique to the country “Our investments in India are on track as we build scale, manufacturing capacity, distribution capability, and a robust product portfolio to realise our business goals in India,” he added.

Mr. Bozer said, “If we continue to focus on doing the right things in this market, India could emerge as a top five market for the Coca-Cola Company by 2020.”

At present, India is the seventh largest market for the Atlanta-based firm.

Bottling plant

Meanwhile, the company on Thursday inaugurated a franchise bottling plant at Greater Noida, near here. Owned and operated by Moon Beverages, the new plant has four lines and has come up with an investment of Rs.140 crore. It can produce juice, still beverages such as water and sports drinks.

With the opening of the Greater Noida plant, the company has now 57 plants in India of which 22 are franchise plants, 23 company-owned and 12 contract packaging plants.