Nooyi: Dropping in

New Delhi, March 29: PepsiCo is likely to invest between $300 million and $500 million in India during the next five years.

The cola major has indicated it will set aside about 60 per cent of the total investment for beverages. The remaining 40 per cent will go into development of snacks like Kurkure.

The company will launch its Quaker brand of products during the next financial year. Indra Nooyi, PepsiCo?s president and CFO, said the company is studying the market before launching Quaker Oats breakfast foods in India. It is now expanding the reach of Lipton Iced Tea.

Nooyi said the Indian snack foods business is one of the fastest growing segments in Pepsi. PepsiCo is also planning to take Kurkure to South Africa, Australia and West Asia, she said.

Pepsi officials explained that Kurkure would be produced in the local markets just like Fritolays, a Mexican food brand owned by Pepsi, was manufactured and sold across the globe.

The US-based firm is also looking at expanding its presence in the juice market, she said. Tropicana, its fruit juice brand, and packaged water Aquafina recorded a 50 per cent growth in 2004 against 17 per cent in its carbonated drinks division.

Nooyi said Pepsi is likely to draw more executives from India to the top management slots in the company's worldwide operations. Already, over 50 per cent of PepsiCo's senior executives in China are Indians.

This is Nooyi?s second visit to India after she took over as the president of PepsiCo. In October, PepsiCo chairman Steve Reinemund had come to India.

Ranking India at number five worldwide in terms of revenues, Nooyi said PepsiCo's business has grown four-fold in the last five years and the company has put in place a strategy to expand further.

On the company?s financial performance, Nooyi said: ?We are making cash profits from our Indian business. I am bullish on India and looking at the market as a long-term bet.?