‘’One needs to accept the fact that turbulence is here to stay. New challenges call for new ideas. We have to change our approach to business during turbulent times,” PepsiCo chairperson & CEO Indra Nooyi said while speaking at the CII National Council Meeting in Mumbai.
After announcing her plans to invest R33,000 crore in India by 2020, Nooyi said India remains a fundamentally strong story with the large reservoir of untapped potential.
‘’I believe Indian business is an emerging force with 200 million internet users. During tough times corporates need to reinvent themselves constantly. I think turbulence brings opportunities for growth,” she said.
Speaking on the theme ‘Managing uncertainty-leadership in turbulent times’, Nooyi said, “During turbulent times, leaders need to handle the situation with courage and conviction. We took a bold step of shifting our global positioning from ‘fun’ products to ‘good for you products’, and it worked well for us... And we clinched selective acquisitions during turbulent times.”
According to Nooyi, most successful companies are those that stay calm and think down to earth rather than showing aggressiveness to shorten the crisis period. “Modern CEOs should have a clear focus on long-term investments,”she said.
Nooyi strongly believes companies can not deliver value unless they anchor the company’s values.
“Values make an unsinkable ship. Code of conduct goes beyond legal compliance and every employee needs to be well versed with it,” said Nooyi.
India currently represents one of PepsiCo’s largest markets globally. The Rs 33,000 crore investment is expected to further strengthen and expand PepsiCo’s capabilities in the next few years.PepsiCo and rival Coca-Cola are vying for a bigger chunk of developing countries’ business as growth rates in Asia, the West Asia and Africa are four to five times those in the US and Europe.
Nooyi strongly believes that emerging markets play key role in growth of global companies. “During turbulent times, PepsiCo looked at new markets including India," she added.