The cabinet committee on economic affairs today gave its approval to the proposal of Pepsico Holding Private Limited to invest an additional of $200 million in the equity of Pepsico India Holdings Private Limited within a period of three years. The investment will raise the US beverages giant's investment in India to $655 million from $455 so far.
The CCEA approved the investment proposal; as per the recommendations of the Foreign Investment Promotion Board (FIPB).
This would result in an additional foreign direct investment (FDI) to the tune of Rs928 crore (approx), an official press release said.
PepsiCo, which established its business operations in India in the year 1989, claims to have invested more than $1 billion in India since its establishment.
PepsiCo has a diverse range of products from beverages to chips and has 3 state-of-the-art food plants in Punjab, Maharashtra and West Bengal.
It has more than 40 bottling plants, including company-owned and franchise ones and provides employment both directly and indirectly to 150,000 people in the country.
PepsiCo Inc and subsidiaries reported a 10 per cent rise in net worldwide revenues at $43.26 billion in 2008. Net cash provided by operating activities showed a 1 per cent jump at $6.99 billion in 2008 from $6.93 billion in 2007.