PepsiCo’s Global Chief Executive Officer, Ramon Laguarta, met Prime Minister Narendra Modi on Tuesday, just a day before the Prime Minister’s birthday. The meeting comes at a critical time amid ongoing trade tensions between India and the United States.
This marks the first time PepsiCo’s current CEO has met PM Modi in India. The company has identified India as one of its 13 core global markets, expecting these markets to contribute more than 85 percent to its future growth. PepsiCo sees significant potential for business expansion in the Indian market.
The meeting is also notable as PepsiCo’s beverages business reported a decline in most of the June quarter, attributed to early and sustained rains. However, its international beverage business showed a modest one percent volume gain during the same period.
This is the second high-profile PepsiCo leadership visit to India within five months, highlighting the country’s growing strategic importance amid global geopolitical tensions.
Higher GST rates in India remain a concern for the company. Starting September 22, GST on sugary aerated drinks will increase, affecting the core Indian markets.
For the 12-month period ending December 31, 2024, PepsiCo India reported revenue of 8,877 crore rupees and a profit after tax of 883.4 crore rupees. Internationally, PepsiCo’s convenience foods business saw a four percent revenue growth, supported by strong performance in markets including India.
The meeting underscores India’s importance in PepsiCo’s global strategy, both as a key growth market and a critical player in navigating trade and regulatory challenges.
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