Beverage industry giant, Coca-Cola has announced that it will invest $ 5 billion along with its bottling partners in India to boost its market share over the next eight years.

The company had announced in November that it will invest about $2 billion in India over the next five years. However, the investment plans have been boosted by the company for the country, which is one of the fastest growing consumer markets.

Coca-cola has seen its sales rise steadily in the country. According to industry estimates, Coca-Cola has close to a 58 per cent share of the market, compared with Pepsico's 38 per cent. However, its flagship drink, Coke has a market share of close to 9 per cent in the country compared to Pepsi's 15 per cent.

Muhtar Kent, chairman and chief executive of Coca-Cola said that the company is aiming to build on its growth in the country and stay ahead of its rival. "We have increased the investment here because we think there's potential here to stay ahead of the curve," he said.

Coca-Cola India and its bottling partners will invest additional funds in consumer marketing and brand-building activities in the country. The company and its parents are also planning to invest in expansion of distribution and cold drink equipment placement and development of manufacturing capacity in India.

The announcement shows the importance given to the emerging markets like India by the multinational firms facing slowdown and stagnant demand in developed markets.