NEW DELHI(PTI): People in India will soon have the taste of Coca Cola after a gap of 15 years.
The Cabinet Committee on Foreign Investment (CCFI) June 23 approved a proposal of the M/S Coca Cola south Asia holding Inc for the setting up of a 100% owned venture in India to manufacture beverage essence and beverage base.
The popular soft drink made an exit from India after the Janata Party came to power at the Center in 1977.
The company has also projected exports over the first seven years and the export earnings are expected to exceed the import cost of raw materials,
The company has offered to reinvest and redeploy dividend amounts for the first seven years of business from India.
It will promote the new wholly owned venture in India with a capital of Rs 600 million crore for implementation of the project.
Article extracted from this publication >>July 2, 1993
