New Delhi, September 21, 2008: PepsiCo Chairman and CEO Indra Nooyi, announced that PepsiCo would invest USD 500 million in its India operations over the next three years to triple revenues over the next five years. These investments would be spread over manufacturing capacity, market infrastructure, environment sustainability initiatives, R&D, new product development, and agriculture.
This new investment would contribute 50,000 new direct and indirect jobs to the Indian economy.
Ms. Nooyi was addressing a press conference in Delhi. Along with Ms. Nooyi, the 26 member PepsiCo Executive Committee is on a three day visit to India.
PepsiCo today announced a pilot program in India which directly delivers against the United Nations’ Millennium Development Goal to eradicate extreme poverty and hunger by 2015.
Addressing the same press conference, Dr. Mehmood Khan, Chief Scientific Officer, PepsiCo, said, “Millions of people – here in India and elsewhere – suffer major deficiencies of key micronutrients, like iron, Vitamin A and zinc, which lead to serious health problems. We recognise that almost 50 percent of young women are iron deficient in India placing them and their children at risk for physical and mental impairments. PepsiCo is working toward developing nutritious fortified products to reduce micronutrient deficiencies in select developing countries, to address the huge challenge of malnutrition among the poor, leveraging our core competencies including R&D, product development, marketing, sales and distribution”.
“The initial work will focus on reaching young women with a nutritious product. Prior to scaling-up this product, we will assess its efficacy in collaboration with leading nutrition and epidemiological experts in India. The project is likely to involve public and private partnerships to sustain its use. The products will be developed for India, South Africa and, in time, Nigeria.”
“This will be a pioneering initiative for PepsiCo – and we are very excited about the prospect of helping to address a very serious public health problem.”
PepsiCo Vice Chairman, Mike White reaffirmed that its India operations were on track to achieve Positive Water Balance by 2009. This means that PepsiCo India will save and recharge more water than it will use in its beverage plants throughout the year.
In the last five years, PepsiCo’s water conservation initiatives in India have enabled it to reduce water used in its manufacturing plants by two-thirds, and in the last three years alone, the company has saved nearly 2.5 billion litres of water in India.
The multi-pronged approach to reduce water usage across manufacturing plants includes innovative reuse and recycling; installation of water recovery equipment; starch recovery units in its foods plants, and rain and roof water harvesting methods.
Mike White also announced that the PepsiCo Foundation’s commitments to safe water initiatives will reach nearly USD 15 million over the next three years and said, “This commitment is focused against organizations working to bring safe water to those in need including here in India.
They include contributions by the Foundation, to H2O Africa and Columbia University’s Earth Institute – as well as new contributions to be announced in the coming days to help address the critical water scarcity issue here in India as well as in other targeted countries.”
All these initiatives strengthen PepsiCo’s commitment to its Performance with Purpose initiatives focused at Human, Environment and Talent sustainability.
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Mrinall Kanti Dey
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