India 'long-term contributor' to Coca-Cola volumes: Global COO

New Delhi: The Coca-Cola Company said it considers India “a market of the future and long-term contributor of volume growth” in its October-December ’25 global quarter earnings late Tuesday, adding that it faced the brunt of weather and tax impact in the country through last year.

“In India, last year, we had different impacts (in terms of) industry impact, tax dynamics and weather,” Henrique Braun, currently global chief operating officer, told investors. Braun, who will assume charge as CEO, succeeding James Quincey later in March this year, said the beverage maker will continue to invest ahead of the curve along with bottling partners. “We believe we can get back on track in 2026. In India, the level of investment has been unprecedented. We will continue to invest, because this is a market for the future,” he said.

Also Read: India a market of future, will invest ahead of curve: Coca-Cola


Coca-Cola said in its earnings release that within bottling investments (or company-owned bottling operations), its unit case volume declined 6% in the quarter, largely due to a decline in India and the impact of refranchising (or sale) of bottling operations.

The company reported a gain of $102 million in 2025 from sale (refranchising) of some of its bottling operations in the country. Coca-Cola’s bottling arm Hindustan Coca-Cola Beverages (HCCB), has, over the last two years, sold off some of its bottling operations in parts of Gujarat, Rajasthan, Bihar, Northeast and parts of West Bengal to multiple bottlers.

Late 2024, it also announced the sale of 40% stake in HCCB’s parent company, Hindustan Coca-Cola Holdings, to the Jubilant Bhartia Group.

Globally, the maker of Coke and Sprite sparkling drinks reported unit case volume growth of 1% during the quarter and flat for the full year.