Coke to invest $3bn in India

City A.M. Reporter
COCA-COLA announced a further $3bn (£1.92bn) in investment in India over the next eight years yesterday as the world’s biggest soft drinks maker seeks to expand in a country where its flagship brand trails rival Pepsi.

The investment by Coca-Cola and its bottlers, on top of a $2bn five-year plan announced in November, will hearten Indian officials who are trying to restore investor confidence after growth fell to a nine-year low in the first quarter. The announcement comes days after Swedish retailer IKEA said it would invest €1.5bn in the country.