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| Tuesday, 25 May 2004 |
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Coca-Cola Indian Division chief meets Trade Minister President of the Coca-Cola India Division, Sanjiv Gupta visited Sri Lanka recently and met Minister of Trade and Consumer Affairs Jeyaraj Fernandopulle. Gupta said that Sri Lanka presents a great opportunity for growth, but expressed concern over the high cost of local soft drinks. He said that the high cost of operations has compelled the industry to be priced at existing high levels and pointed out that one of the biggest contributors to this high cost as being the excise duty that is currently levied on soft drinks. Gupta said that any relief that the government might pass down on excise duty will be extended to the consumer making soft drinks more affordable to a much bigger consumer segment. Any relief on excise duty can have a great multiplier effect on industry growth which can positively impact both direct and indirect employment, he said. |
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