PepsiCo India has decided to increase its investment from Rs 500 crore to Rs 800 crore in Uttar Pradesh, India. This would provide direct and indirect employment to over 1500 people in the state.
Many US companies have agreed to invest in India. While discussing the investment opportunities in UP with the representatives of the American Chamber of Commerce in India, the MSME minister assured of all help on behalf of state government. He said that PepsiCo has also decided to procure 118,000 tones potato from the farmers of Mathura and Kosi region. This would help in increasing the income of the farmers.
The minister said that Microsoft is already setting up a centre in Greater Noida, which will employ over 4000 people. He said the trade between Uttar Pradesh, India and the US are around $2.74 billion, which is mainly of textile, woodcraft, carpet, iron & steel items. Recently the US companies have shown interest in investing in the electronics and electrical sector at Noida and Greater Noida. The UP government is inviting investment in the food processing, leather, horticulture, and pharmaceutical and Agriculture sectors also.
PepsiCo is committed to double its business from snacks business in India and also increasing the capacity of existing food plants in West Bengal and Maharashtra, and it has additionally proposed to set up a greenfield manufacturing facility in Assam
As the festive season begins, the company expects an enhanced demand from categories like snacks, juices and other carbonated beverages led by the sentiment of celebration.
As people are going to have to stay home and celebrate festivals indoor, there is going to be more intake of bottles, cans etc.
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