PepsiCo plans to double its revenue in India within five years, positioning the country as a "key anchor market" for aggressive capacity-building investments, said Jagrut Kotecha, CEO of PepsiCo India & South Asia, in an exclusive PTI interview. India, a top-three market for the multinational, is experiencing double-digit growth and is poised to drive PepsiCo’s global revenue as an "engine of growth."

Kotecha highlighted India’s low per capita consumption in food and beverages as a significant opportunity, predicting it could become one of PepsiCo’s fastest-growing markets. The company has already invested in greenfield plants in Uttar Pradesh and Assam, with plans for two more facilities, including one in southern India. “We’re not investment shy,” Kotecha emphasized, noting Rs 3,500-4,000 crore invested over the past three years. PepsiCo’s bottling partner, Varun Beverages Ltd, is also expanding, boosting capacity by 25% this year with around 40 plants.

Operating on three strategic pillars—faster, stronger, better—PepsiCo has segmented India into nine taste-preference clusters while prioritizing sustainability. Last month, it reported double-digit organic revenue growth in India, with gains in snacks and beverages. Kotecha aspires to hit USD 2 billion (around Rs 17,000 crore) in revenue, building on Rs 8,200 crore from 2023’s nine-month fiscal period.

Addressing competition from Reliance’s Campa Cola, Kotecha welcomed it, stating, “Competition grows the category.” PepsiCo will focus on consumer-centric strengths, leveraging brands like Pepsi, Mountain Dew, Lay’s, Kurkure, and Tropicana. In 2023, food accounted for 80% of its revenue, with beverages at 20%. With India’s beverage market valued at USD 12 billion and growing at 10-11% CAGR, PepsiCo sees immense potential ahead.