Coca-Cola invests $5bln in India

(AFP Photo / Rob Elliot)
Coca-Cola says it plans to invest $5 billion in India in a bid to increase its market share.

­ India is one of the fastest growing consumer markets and the firm's sales there have been rising steadily. The US soft drinks giant is to invest $3billion more over the next eight years than previously announced.

Coca-Cola has an estimated market share of close to 9% in India, while rival Pepsi has nearly 15%. But Coca-Cola enjoys a slight edge over its rival Pepsico when it comes to the overall share of the Indian market.

According to industry estimates, Coca-Cola has close to a 58% share of the market, compared with Pepsico's 38%.

One of the  key reasons for that is the success of some of Coca-Cola's other drinks, especially Thums Up and Sprite, which are two of the most popular carbonated drinks in India.

Earlier this year, Coca-Cola reported that its sales in India jumped 20% during the first quarter compared with a year ago.