Global beverage behemoth Coca-Cola (NYSE:KO) plans to invest nearly $1 billion in the Indian market, according to Quartz.
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James Quincey, the CEO of Coca-Cola, views India favorably as the country emerges from the cobwebs of red tape to drive investments. Speaking at a panel discussion at the World Economic Forum in Davos, Quincey noted India’s advancements in digital platforms, the adoption of the Unified Payments Interface (UPI), and physical infrastructure.
Notably, the consumer sector in India is growing at a faster pace than the overall growth in the country. Coca-Cola already counts India as one of its most significant markets globally. KO is taking steps to participate in this growth with new plants in Gujarat and Telangana and new product launches such as a ready-to-drink tea concoction.
Notably, KO has been investing nearly $750 million in India annually and plans to invest nearly $1 billion in the country over the next five years. Last month, the company entered the alcoholic beverages market in India with the introduction of Lemon-Dou, an alcoholic beverage from its global portfolio.
What is the Future of KO Stock?
Overall, the Street has a Moderate Buy consensus rating on Coca-Cola, and the average KO price target of $64.75 points to a modest 8.2% potential upside in the stock. That’s after a nearly 25% rise in the company’s share price over the past five years.
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