Coca-Cola Plans Expansion in India, Exploring Acquisition Deals: CFO

Coca-Cola anticipates that India will rank as its third-largest market by volume in the upcoming years; hence, the company is assessing acquisition options there. The Coca-Cola Company, an international beverage company with headquarters in Atlanta, is searching for acquisitions in India.

Through these acquisitions, the firm aims to grow into its third-largest market in the years to come. During a roundtable with select reporters, John Murphy, the company's president and CFO, stated that local brands are one approach to satisfy consumer needs and that some of the competitors of Coca-Cola in India are fairly strong. The company is working on a few projects. Bolt-ons can enhance the brand's existing items while addressing a gap in the range.

Company Aims to Acquire Local Beverages Firms

Regarding competition, Murphy also emphasised that the Indian beverage industry's increasing level of rivalry is a reflection of its allure. "We observe how scalable businesses are, and considering the vastness of India, scale is not an issue. Murphy continued, "It's whether the brand itself has the wherewithal to be attractive to the consumer base," adding that there are plenty of chances to consider in the Indian market. 'It's not surprising at all,' he continued. “That intensity keeps rising as the industry expands and the opportunities become progressively more obvious.”

India has a huge consumer base that hasn't yet been properly utilised.  After the United States, Mexico, China, and Brazil, India is currently the fifth-largest market by volume for the cola producer. India is headed in the right direction, Murphy emphasised. For a variety of reasons, 2025 was a difficult year, and he anticipates that India's momentum will remain strong.

It has all the underlying fundamentals to be among the top three in the years to come. Although it does not yet have a deadline, the corporation, which is attempting to refranchise bottling operations worldwide, also hopes to fully stop production in the nation.

Indian Market is Transitioning Well for Coca Cola: Murphy

The business sold the Jubilant Bhartia Group a 40% stake in its local bottling company, Hindustan Coca-Cola Beverages (HCCB), in December 2024. Murphy noted that the government has invested in infrastructure, electricity projects, and economic digitisation. All this has been done to boost consumption over the past ten to fifteen years. Murphy discussed the country's changing consumption patterns and noted that there is a rising market for low- and zero-calorie products, which presents an "opportunity to innovate".

In addition to low- and no-sugar options like Thums Up XForce, Sprite Zero, Diet Coke, Coke Zero, and the recently introduced Schweppes Zero Tonic & Sparkling Water range, the beverage major is concentrating on innovation across all categories. Powerade will be introduced in February. Additionally, it boasts three billion-dollar brands in the nation: Sprite, Maaza, and Thums Up. Regarding the quick-commerce prospect, he stated that although it makes up a small portion of the whole business, "digitisation of the economy is going to be, I think, a pretty significant tailwind in the long run."