Signifying the importance of the Indian market, PepsiCo Chairperson and CEO Indra Nooyi said the company was making the investments in order to to more than double the capacity of the business in the country by 2020. (PTI)
Global FMCG majors Unilever, Pepsi, GSK bet big on India despite slowdown
India was the flavour of the year, at least in the FMCG sector, as multinationals hiked stakes in their subsidiaries lured by long term potential of the country, while homegrown executives made their way to top hierarchy of global firms in 2013.
The Indian FMCG sector, which is currently pegged at around $13.1 billion, also saw various challenges in the form of subdued demand despite good monsoon and bumper harvest that were expected to boost rural sales.
Unilever, GlaxoSmithKline and PepsiCo made big bang announcements during the year as they decided to enhance their play in the “strategic and emerging” Indian market.
Anglo-Dutch consumer goods giant Unilever PLC spent Rs 19,180 crore to increase its stake in the Indian arm Hindustan Unilever Ltd. ( HUL) to 67.28 per cent through an open offer.
Likewise, UK-based GlaxoSmithKline (GSK) also hiked its stake in its consumer healthcare arm in India to 72.5 per cent from the earlier 43.2 per cent stake in a transaction worth Rs 4,800 crore.