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Home » Business » Demonetisation has had an impact on PepsiCo business: Indra Nooyi

Demonetisation has had an impact on PepsiCo business: Indra Nooyi

By Newsd
Updated on :
Source: Rainforest Action Network

PepsiCo Chairman and CEO Indra Nooyi on Wednesday said that India’s demonetisation move has had a significant impact on the MNC’s business in the fourth quarter.

“Demonetisation had a significant impact on our India business in the fourth quarter. And there are still some lingering effects. I’m not sure we are totally out of the woods,” she stated in an earnings analysis call.

Nooyi said India saw a massive change because 80 per cent of its currency was taken out of circulation and the implementation had its share of challenges.

Nooyi said that the company hopes that by the time the second quarter rolls by, “we would be through the bulk of the demonetisation challenges. And the new currency and the digital currency will be back in circulation and we’ll be back to normal retail activity.”

Similarly, Coca Cola also said in last week that the tough operating environment stemming from demonetisation is likely to persist at the start of the year before gradual recovery.

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