
Cracks in the Cola Kingdom: Why India’s Duopoly is Facing Its Toughest Test Yet
For nearly three decades, India’s cola story has been told as a rigid, two-player script: Coca-Cola versus PepsiCo, fighting it out on distribution scale, high-octane advertising, and tactical price points. Today, that script is finally being rewritten.
A structural shift is currently sweeping the market. Reliance’s revival of Campa, ITC’s launch of Coconut Cola, and a rapidly growing bench of regional Indian challengers are collectively reshaping how growth, value, and “cool” are defined in India’s soft drinks market.










