Vlxi Tech

Banking on the Indian middle-class's fetish for colas and chips, the $65-billion American food and beverage multinational PepsiCo has earmarked an investment of Rs 33,000 crore ( $5.5 billion) for India till 2020. This will not only help the Purchase-based company double its production capacity and strengthen distribution, but also create more than one lakh jobs.

PepsiCo chairman and CEO Indra Nooyi remained upbeat about India's chances of bouncing back from the current tough economic scenario. "PepsiCo's faith in the India growth story remains unscathed," she told TOI in an exclusive interview. "This is a temporary slowdown and it comes after years of double-digit growth. India will eventually power its way up."

PepsiCo's investment comes a year after its rival Coca-Cola announced plans to devote $5 billion to build capacity here. A substantial chunk of PepsiCo's investment will go towards increasing its manufacturing capacity. Resources will also be allocated to boost innovation in foods and beverages and expand its collaborative farming programme.