PepsiCo Inc, the global food and beverage giant, is set to make a significant investment of Rs 778 crore ($93 million) in the northeastern state of Assam, according to an announcement by Chief Minister Himanta Biswa Sarma.

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The proposed PepsiCo plant, to be constructed in Nalbari, Assam, marks a substantial development for the region, which has long grappled with economic challenges. Chief Minister Sarma took to X (formerly known as Twitter), on Wednesday (September 6) to share the news and highlight the positive impact it will have on the local community.

Assam extends a warm welcome to business opportunities!

Today we marked the beginning of a ₹770 cr PepsiCo plant in Nalbari. This will generate 450+ jobs & improve lives of 5000+ farmers.With ₹12,000 cr private investments on the horizon, we are poised for a bright future! pic.twitter.com/c9ncQnBBVz— Himanta Biswa Sarma (@himantabiswa) September 6, 2023

The new factory is expected to generate over 450 employment opportunities, providing much-needed jobs in an area where prospects are limited. Moreover, the plant is projected to improve the livelihood of more than 5,000 local farmers, demonstrating the potential for economic growth and development in Assam.

PepsiCo, which initially entered the Indian market in 1989, has established itself as a key player in the country's food and beverage industry. The company's dominance in soda sales, along with its rival Coca-Cola Co, underscores India's importance as one of PepsiCo's vital markets.

Although PepsiCo has not yet issued an official statement regarding the Assam plant project, this move aligns with the company's strategic vision for expansion and growth in India. In its latest annual report, PepsiCo's beverage unit in the South Asian nation boasted an impressive 14 percent volume growth.

(Edited by : Shoma Bhattacharjee)