PepsiCo India has decided to increase its investment from Rs 500 crore to Rs 800 crore [approx 106,6 mil USD] in Uttar Pradesh state. This would provide direct and indirect employment to over 1500 people in the state. Siddharth Kalhans of Business Standard reports.
The UP MSME and export promotion minister Siddharth Nath Singh said that earlier PepsiCo was to invest Rs 500 crore [approx 66,7 mil USD] in the potato chips plant at Mathura – which has been increased now.
He said that many other US companies have agreed to invest in the state. While discussing on the investment opportunities in UP with the representatives of American Chamber of Commerce in India, the MSME minister assured all help on behalf of the state government.
He said that PepsiCo has also decided to source 118,000 tonnes potato from the farmers of Mathura and Kosi region. This would help in increasing the income of the farmers.
Source: Business Standard. Full report here