Coke to complete $1.7 bn investment in 'Fruit Circular Economy'
Global FMCG major Coca-Cola is on track to complete all its investment commitments in India, including the $1.7 billion funding to create a "Fruit Circular Economy" meant to aide the Indian agri-ecosystem, a senior company executive told IANS.
The planned investment of $5 billion announced by the company in 2012 is expected to be completed by 2020 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. "We are on track with our investment commitments of $5 billion by 2020. That's on track," a senior executive with the beverages major's India arm told IANS.
Additionally, the company has committed an investment of $1.7 billion or more than Rs 11,000 crore towards creating a "Fruit Circular Economy" aiding the Indian agri-ecosystem for the next five years till 2023.
"This investments will help catalyse the entire fruit value chain helping take them from the grove to the glass," the executive said.
Apart from its planned investments, Coca-Cola India has initiated the next stage of its transformation into a "growth-oriented, consumer-centred, Total Beverage Company".
"As part of this journey, we continue to expand our beverages portfolio to provide more choices to our customers across our Indian and global portfolio," the executive said.
The company recently set up a new business venture division to incubate and scale-up new businesses.
"This new division is focused on broadening our beverages range so that our portfolio appeals and is available to wider parts of society," the executive said.
"One part of the strategy here is to look across Coca-Cola's global portfolio and bring brands to India that we think will resonate with the consumers here, thus offering them more choice," the executive added.
Consequently, the beverage major in India entered into new segments, like the niche but potentially high-volume non-alcoholic malt drinks market with its global brand, Barbican.
Other notable additions to its portfolio this year have been Rani Float and Powerade, both of which were brought to India from the company's global portfolio.
"Our 2020 plans include making both Rani Float and Powerade more widely available pan India," the executive said.
Besides, the company's India unit is also incubating its own brands, one of them being Aquarius Gluco-charge, which was launched about a year-ago across some parts of the country.
"Other incubations include experimenting in beverages that are more unique to India. Our aim is to be the preferred choice of beverage, no matter what your beverage preference is," the executive added.
Globally, Coca-Cola offers over 500 brands in more than 200 countries and territories.
In India, the company offers beverage brands like Coca-Cola, Coca-Cola Zero, Diet Coke, Thums Up, Fanta, Fanta Green Mango, Limca, Sprite, Sprite Zero, VIO Flavoured Milk, Kinley and BURN energy drinks, amongst others.
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