Note ban, GST hit sales, says Coca-Cola

Beverage makers' bottling operations declined in the June quarter

Major policy changes, such as demonetisation and the roll-out of the goods and services tax (GST), hit beverage sales in the country said Coca-Cola on Wednesday. The volumes of the global beverage major fell 4 per cent in the March quarter this year, and its bottling operations declined in the quarter ending June.
 
“While we believe India has taken the right steps by modernising its monetary and tax systems, new policies have resulted in near-term uncertainties for retailers and consumers that impacted the beverages industry in the first half of the year,” James Quincey, chief executive officer of The