From correspondents in Delhi, India, 04:00 PM IST

Frito-Lay, the food division of beverage major PepsiCo India, plans to spend about Rs.500 crore over the next three years on its entire product range in India, a top official said here Thursday during the launch of a new baked savoury cracker, Aliva.

'We will be investing about Rs.500 crore on our entire food portfolio over three years,' Gautham Mukkavilli, Frito-Lay India chief executive and PepsiCo India president told reporters.

'We want the new product (Aliva) to get as big as Kurkure,' Mukkavilli said, referring to PepsiCo's popular snack.

Aliva will be available in four flavours, and its ingredients will include wheat and lentils to suit the Indian taste buds, Mukkavilli said.

'We will manufacture Aliva at our Ranjangaon plant (55 km from Pune) where we have deployed a new state-of-the-art baking line.'

The company will use its existing channels of distribution network for the product.

(Staff Writer, © IANS)