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Coca-Cola sees India emerging as one of its top 3 global markets
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Monday, 19 January, 2026, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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Global beverage giant Coca-Cola is bullish on India’s growth prospects, with John Murphy, President and Chief Financial Officer of the company stating that India is “on the right path” to becoming one of its top three markets by sales volume in the coming years.” This reflects Coca-Cola’s confidence in the strength of India’s consumption trends and the long-term potential of its retail ecosystem.
Speaking at a media roundtable during his India visit, Murphy noted that India currently ranks as the fifth largest market globally for Coca-Cola by volume and has the foundational ingredients required for sustained growth. Despite facing weather-related challenges in 2025, the country’s consumer sentiment remains resilient, and the company anticipates a **“very robust” growth trajectory in 2026 and beyond.
Coca-Cola attributes part of its optimism to the ongoing evolution of India’s retail landscape, increasing digitisation, and broader economic reforms that have helped stimulate consumption. Murphy highlighted government-led infrastructure and electrification initiatives as long-term enablers that benefit businesses like Coca-Cola, particularly as digital channels and e-commerce continue to gain traction.
The company’s market strategy in India includes working closely with bottling partners such as Hindustan Coca-Cola Beverages (HCCB) and other franchisees to expand distribution and reach. In line with this, Coca-Cola has indicated that it may pursue mid-sized acquisitions in India to broaden its category footprint and compete across diverse beverage segments.
Competition in the soft drinks space, including from regional players, remains intense. However, Murphy sees this competitive landscape as an impetus for Coca-Cola to stay innovative and consumer-centric. With a large and youthful population coupled with rising disposable incomes, India’s beverage market offers a compelling growth story for the Atlanta-based company—and sets the stage for it to potentially sit among Coca-Cola’s top global revenue drivers in the years ahead.
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