Coke is the oldest soft drink in India. There are many people and stories in India Related to old companies and people. Similarly, today we are going to share with you an anecdote from the Coca-Cola Company.
When the Coca-Cola Company was introduced in 1950 in India. Then Barely 10% of the people had safe drinking water.
But in 1970, the Coca-Cola Company faced a huge problem, in which the Coca-Cola Company was considered against the domestic companies. Opportunities of Government’s Foreign Exchange Regulation Act 1973. Coca-Cola was told that they would have to transfer 60% of their company’s shares and their Coca-Cola formula or They would have to close their company’s operations in India. It will be a matter of tension for every company that why will they tell their secret formula to anyone.
Coca-Cola agrees to transfer shares and refuses to give formula, Anthony Young, a senior executive at Company, went to New Delhi and asked the government to reconsider the decision.
Mr. Young said that he has a lot to offer India. Who can also offer citrus tea and coffee along with beverages? They have experts and labs to understand water. Who wants to tell the Indian leaders that their presence in India can be very beneficial? Mr. Young said that his interest in India is high. And the people of India are also working for money like shopkeepers, mall and company employees.
Government officials felt that Coca-Cola did not have much role in the Indian economy. And it doesn’t make any difference if they leave the market.
Coke sells 450 million bottles every year. Industry manager George Fernandes said that it is not equal to per capita when the population of India was 60 crores at that time. But who is making the substitute for India’s famous beverage 77?
Because the business of Coca-Cola was not going to make much difference. When the substitute could have taken a coke jug.
The statement stated that $12 million investment in 6000 job workers and 200,000 small dealers. All these incomes were coming from selling Coca-Cola.
Dealers used to think that an alternative to Coca-Cola would soon come into the market, but who can ever take the Coca-Cola world?
Charanjit Singh, who is the biggest dealer, said in an interview that the government should not forget the company and its employees in the face of politics. Mr. Charanjit has also been in politics and is also a member of parliament.
Coca-Cola got favor from Congress party only from Hama Janata Party always opposed due to Foreign Exchange Regulation Act.
Coke exited Time India
So was this the end of the company? No. Strategy for re-entry again. 1993 May. They acquired many brands like Thums Up Limca and Maza in a jiffy. In this Coke Captured 60% of the Soft Drinks Market?
Today India is the 5th largest market in the pure world with coke’s revenue of 2700 crores.
Coke also ran a lot of market campaigns. Even though people do not like Coca-Cola drinks, indeed, Coca-Cola has not been substituted yet.
I hope you find something interesting in this article. Thanks for reading.