Last year, PepsiCo had pipped telecom major Bharti Airtel to become the new title sponsor of the IPL with a winning bid of Rs 396.8 crore for the five seasons, starting 2013.
"India is a country with huge potential and it remains an attractive high priority market for PepsiCo. We believe we have only scratched the surface of long term growth opportunities that exist for PepsiCo and our partners," PepsiCo chairman and CEO Indra Nooyi said.