Beverages and snack foods major, PepsiCo, would continue its expansion in India, irrespective of global financial crisis and slowdown in industry. The company has recently decided to invest $500 million in India in next three years.

PepsiCo India Chairman, Sanjeev Chadha ruled out slowdown in FMCG sector and said that only banking and insurance sector is widely hit by financial crisis. He was speaking to the reporters in the side lines of function of World Economic Forum (WEF). He was recently elected as head of beverages and food industry of Indian region.

Mr. Chadha said that the company would not hike prices of soft drinks and bottled water while its rival Coca-Cola has already increased prices. However, he hinted to increase prices of snack foods in this quarter. It would also launch low cost products to address micro nutrient deficiencies among consumers.

The company would also contribute its due share to address health problems such as diabetes, cancer, obesity and malnutrition among Indians by launching a project of low cost products.