PepsiCo to procure seaweed from self- help groups

PepsiCo India Holdings is working with the Tamil Nadu government to partner with self-help groups (SHGs) in Ramanathapuram district to turn its seaweed development programme into a commercial activity in the next 6 to 12 months.

"Right now, we are working with the government to free up space for the SHGs. Pepsi will procure the seaweed from these SHGs. Banks are willing to finance the programme as we have a buyback policy with the SHGs," said Abhiram Seth, executive director (exports and external affairs) of PepsiCo India, at a press conference in the city on Thursday.

The company has been working with the Central Salt and Marine Chemicals Research Institute (CSMCRI) in commercialising and improving the seaweed development programme.

This programme has the support of the Tamil Nadu government, according to a state government release.

Indra K Nooyi, president and CFO of Pepsico, met with the Tamil Nadu chief minister J Jayalalithaa today. She was accompanied by Rajeev Bakshi, chairman of PepsiCo India, and Abhiram Seth.

Nooyi discussed her company's development plans in Tamil Nadu, highlighting the sea weed development programme in Ramanathapuram district.

The chief minster indicated to Nooyi, the support of the state government to take up the programme involving SHGs in the district.

Nooyi also briefed the chief minister about her company's other development plans in the state including snack foods, breakfast foods and the possibilities of contract farming.