Drinks giant PepsiCo and its partners are planning to invest INR330bn ($5.5bn) in India by the end of 2020 to expand its capabilities across various business areas including innovation, manufacturing, selling and go-to-market infrastructure, and agriculture.

Under its innovation plans, the company will continue to add new products to its portfolio, which currently has eight brands with an estimated annual retail sales of approximately INR10bn ($157.3m).

The beverage giant will also increase its beverage and food manufacturing capacity to more than double the current levels in order to meet the growing consumer demand.

PepsiCo will work with partners to implement new technologies to increase delivery infrastructure and enhance service to retail customers, with special focus on rural markets.

PepsiCo chairman and CEO Indra Nooyi said India is a country with huge potential and it remains an attractive, high-priority market for PepsiCo.

"We’ve built a highly successful business in India over the course of many years, and we believe we’ve only scratched the surface of the long-term growth opportunities that exist for PepsiCo and our partners," Nooyi added.

"We will be guided by Performance with Purpose, PepsiCo’s vision for building a profitable and sustainable 21st century corporation that is a good investment for our shareholders, a good environment for our employees, a good citizen in our communities and a good steward of our planet’s resources.

"We believe Performance with Purpose will drive sustained value for PepsiCo and positively contribute to India’s development well into the future."

As part of its strategic initiative, PepsiCo and its partners also plan to install new technologies to further reduce energy, packaging and water use in their operations, and expand water recharge programs to sustain positive water balance.

Image: PepsiCo India has eight brands including Pepsi, Mountain Dew, 7UP, Slice, Mirinda, Aquafina, Lay’s and Kurkure. Photo courtesy of PepsiCo, Inc.