Keen to turn demonetisation into remonetisation: PepsiCo’s Indra Nooyi
NEW DELHI: PepsiCo chief executive Indra Nooyi has said she is keen to ‘turning demonetisation into remonetisation’. The head of the New York-based snacks and beverages maker, currently on an India visit, tweeted on Tuesday morning: “innovative India is starting to use digital where cash once dominated - turning demonetisation into remonetisation” .
Most consumer goods firms across sectors had reported subdued sales in the October-December ’16 quarter, which they attributed to the currency ban. At least six global heads of consumer companies, including Nooyi, had said the impact of demonetisation would take time to settle. “Our hope is that by the time Q2 rolls in, we would be through the bulk of the demonetisation challenges. The new currency and the digital currency will be back in circulation and we’ll be back to retail activity coming back to normal,” Nooyi had told analysts on a post-earnings conference call, after PepsiCo’s fourth quarter results were announced.
She is set to meet Prime Minister Narendra Modi this week to discuss matters such as Indo-US relations, demonetisation and the shift to low-sugar beverages and foods. Nooyi is the only Indian-American in President Donald Trump’s policy forum which is helping the US government in implementing the new president’s economic agenda.
Most consumer goods firms across sectors had reported subdued sales in the October-December ’16 quarter, which they attributed to the currency ban. At least six global heads of consumer companies, including Nooyi, had said the impact of demonetisation would take time to settle. “Our hope is that by the time Q2 rolls in, we would be through the bulk of the demonetisation challenges. The new currency and the digital currency will be back in circulation and we’ll be back to retail activity coming back to normal,” Nooyi had told analysts on a post-earnings conference call, after PepsiCo’s fourth quarter results were announced.
She is set to meet Prime Minister Narendra Modi this week to discuss matters such as Indo-US relations, demonetisation and the shift to low-sugar beverages and foods. Nooyi is the only Indian-American in President Donald Trump’s policy forum which is helping the US government in implementing the new president’s economic agenda.
