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06-27-2012, 10:51 AM #1
Coca Cola to invest $5 b in India by 2020Describing India as dynamic, young, and emerging, Coca-Cola Chief Executive Officer, Muhtar Kent, on Tuesday, announced that his company would invest $5 billion in the country between 2012 and 2020.
Addressing select mediapersons here, Mr. Kent said: “India is wonderfully diverse. As part of our 2020 vision, we plan to double our business. We are investing because we are confident this is the right decision, given the vast growth opportunities in this country. Our India story is one of remarkable turnaround.” Noting that India will be among the top five countries by volume in the years to come, Mr. Kent said, at present, the country was in the seventh spot, which has improved from around 16th or 17th in 2005-06. “This is a realistic goal because India’s demographic, economic and social patterns are all huge drivers of growth. India has a massive teen population, large-scale urbanisation, changing lifestyle, and growing economy.” Pointing out that his company directly hires more than 25,000 people in India, Mr. Kent said this created indirect employment for more than 1.50 lakh people in related industries through its vast procurement, supply-chain and distribution system...being a human...