CHANDIGARH: The much talked about Pepsi Foods made in India will enter the market here and abroad within nine months,
This was announced here today at a news conference by Mr. Amtik Singh Pooni, Financial Commissioner Development Punjab, who has also been appointed as Chairman of the company’s board. Ajoint venture of the Punjab Agro Industries Corporation, Voltas Limited and Pepsico International the Board held its first meeting here.
Mr. A. H. Tobaccowala, Voltas Chairman was appointed as one of the Founder Directors and Mr. Ashim Ghosh of the Pepsico as Director.
Originally envisaged in 1985, the project will now cost about Rs 50 crore because of the enlargement of the food processing part. Mr. Pooni also announced the selection of sites for location of various plants by the company. He said it had been decided by the company to locate all its major plants in backward areas of PunJab.
The fruit and vegetable processing plant would be located in Zahura village near Tanda in Hoshiarpur district. The food processing and soft drink concentrated plants would come up in Channo village in Bhiwanigarh tehsil in Sangrur district. Both these areas had been identified as centrally declared backward areas and he hoped that the location of the Pepsi plants in these areas was consistent with the primary objective of the project to act as a catalyst to the development of hinterland.
Mr. Pooni said it was proposed to set up a center for agro research and development near Ludhiana. The center would act in close coordination with Punjab Agricultural University to develop high yielding varieties of fruits and vegetables, particularly suited for processing and to improve the cultural practices, Site development activities had already started at the different locations and the construction was proposed to be taken up next month. The company had already started intensive recruitment efforts to locate the best talent.
“We have targeted the first quarter of 1990 as the deadline,” said Mr. Gokul Patnaik, Managing Director of the Punjab Agros. He said the new company had already contracted through Pepsi World Trade, the importexport arm of Pepsico International to export Rs 2 crore of agricultural commodities.
“Spices, hybrid seeds, celery, ted chili, oleomargarine and sea food are among the first items on our export agenda,” says Mr. Ramesh Vangal, a Director of Pepsi Foods. “We have made a commitment to export nearly Rs 200 crore worth of products over a 10 year period. This means we must export five dollars for every dollar spent on imports.
Mr. Tobaccowala said the venture would provide fresh stimulus to the soft drinks industry by providing a much needed dose of competition.
“The soft drinks industry has been plagued by low production volume, poor distribution indifferent quality and high prices because it is virtually a monopoly,” he said.
Mr. Ashim Ghosh said Pepsi Foods would offer quality snack foods for the domestic market. “We propose to induct state-of-the-art processing and packaging technologies to market world class products for Indian consumers. Our products will give new dimensions of quality and choice to the made in India label,” he added.
The prospect of Pepsi’s entry ‘was expected to have a beneficial impact on both price and availability of soft drinks. The impact had been almost immediate. The Consumers in Delhi would benefit from a 25 percent reduction in cola prices announced by a major soft drinks manufacturer. In an. unprecedented move, the makers of another soft drink had introduced a larger bottle of cola at the same price as the standard bottle, Mr. Vangal said.
HERE is a programme for achieving a truly forgiving heart.
Sunday: Forgive yourself.
Monday: Forgive your family.
Tuesday: Forgive your friends and associates.
Wednesday: Forgive across economic lines within your own nation.
Thursday: Forgive across cultural lines within your own nation.
Friday: Forgive across political lines within your own nation.
Saturday: Forgive other nations.
Article extracted from this publication >> April 14, 1989
