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PepsiCo Global CEO and Chairman Ramon Laguarta met with Prime Minister Narendra Modi on Tuesday during his three-day India visit to discuss the company's growth in the country.

Calling India one of PepsiCo’s “anchor markets” where the company sees itself committing to investment for the long-run, Laguarta is said to have talked about exploring opportunities for collaboration in manufacturing, sustainability, innovation, and community development.

He was accompanied by PepsiCo India’s CEO, Jagrut Kotecha.

This is the second visit by the global chief of the snacks and beverages major to India in the last six months, and his first meeting with PM Modi. Laguarta has been heading the PepsiCo board for nearly seven years now.

 

“Yesterday, our Chairman & CEO Ramon Laguarta was honored to meet the Prime Minister in New Delhi to discuss strengthening PepsiCo’s long-term commitment to India and exploring opportunities for collaboration in areas such as manufacturing, sustainability, innovation, and community development," PepsiCo said in a LinkedIn post on Wednesday.

 

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The meeting comes in the backdrop of the new GST rates, where the government has reduced the duty from 12 per cent to 5 per cent on various food products including snacks, which will benefit PepsiCo’s key brands such as Lays, Kurkure, Cheetos, and Quaker Oats. However, the beverage GST rates have been raised from 28 per cent to 40 per cent by clubbing the 12 per cent ‘sin’ tax.

PepsiCo is currently investing in the two new plants in India: a foods plant in Assam and a concentrate plant in Madhya Pradesh. It has also made significant investments in its greenfield facility for snacks near Mathura in Uttar Pradesh.

PepsiCo's India Holdings Pvt Ltd's consolidated revenue from operations stood at ₹9,096.62 crore in 2024.

PepsiCo, which operates with brands as Pepsi, Mountain Dew, Mirinda, UP, Sting, Aquafina, Tropicana and Slice like many other brands reported a decline in beverages business in the June quarter.