Committed to scale up agri-based food business in India: PepsiCo

By: |
Published: July 27, 2019 9:59:55 PM

"PepsiCo in India remains Committed to sustainably scaling up its agri based food business in the country," said the statement posted on a twitter handle of the UP government.

PepsiCo, PepsiCo in india, Uttar Pradesh, Uttar Pradesh government, manufacturing plant, industry newsPepsiCo India President and CEO Ahmed ElSheikh said in a statement that the company will bring in foreign direct investment to power the USD 5 trillion economy vision of a ‘New India’. (Reuters)

Food and beverages major PepsiCo, which is setting up a mega food manufacturing plant in Uttar Pradesh, on Saturday said it is committed to scale up the agri-food business in the country. Ahead of the Uttar Pradesh government’s second ground-breaking ceremony for projects worth Rs 65,000 crore, PepsiCo India President and CEO Ahmed ElSheikh said in a statement that the company will bring in foreign direct investment to power the USD 5 trillion economy vision of a ‘New India’.

“PepsiCo in India remains Committed to sustainably scaling up its agri based food business in the country,” said the statement posted on a twitter handle of the UP government. ElSheikh further said: “Our relationship with India is 30 years strong and our journey here began from the state of Uttar pradesh. Our bond with the country’s farmers also dates 30 years… Today we work closely with over 24,000 farmers across 13 states, which includes Uttar Pradesh.”

The second ground-breaking ceremony now being organised in Lucknow is also a testament to the Prime Minister Narendra Modi’s vision of ease of doing business and PepsiCo India is excited to be part of it, he said. “We reaffirm our commitment to the ongoing development revolution in UP and believe this partnership will further strengthen the strong bond we share with the state,” ElSheikh added.

The Uttar Pradesh government is organising the second ground-breaking ceremony for projects worth Rs 65,000 crore, for which MoUs were signed during the UP Investors’ Summit last year, here on Sunday. Union Home Minister Amit Shah will inaugurate the ceremony, according to an official release. The state government would also hold sessions, a CEO round table and B2G meetings during the event to discuss issues related to various sectors.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1US-China trade war is an opportunity in textiles for India, says texpreneurs federation
2Concerned about data privacy? Google’s Sundar Pichai wants you to have better control on it
3JSW Steel’s mega fundraising: To raise $1 billion in overseas bonds, Rs 10,000 crore in India NCDs