In a recent announcement, Sri Lankan Finance Minister disclosed the contents of his meeting with the top officials of the Asia-Pacific region of the beverage company Coca Cola. Ravi Karunanayake, the Finance Minister, stated that Coca Cola is looking to set up a factory in Sri Lanka soon.
The President of Coca-Cola Asia Pacific John Murphy and Executive Vice President Irial Finan were involved in the meeting that looked towards increasing the economic growth of both the parties. As India is the biggest market of the beverage in South Asia, the company is strategizing to manufacture Coca Cola in Sri Lanka and export it northwards. This is enticing in terms of increasing foreign exchange and job opportunities in the country as per the officials. They also discussed with Mr. Karunanayake about the use of Sri Lanka’s natural water resources and tea related products to manufacture Coca Cola brands and re-export the final products.
But many a citizens are now starting to protest the procedure looking at the trail of wreckage that Coca Cola has left in India. In 2014, a plant was shut down in Varanasi, Uttar Pradesh after local activists took Coca Cola to trial on the basis of the industry polluting its environment and depleting underground water resources. It also led to lesser area for agriculture in the region. Water shortages, pollution and distribution of toxic wastes are the three main reasons behind the protest against the beverage big shots. The same trend is supposed to continue in Sri Lanka which is fueling the rage of the residents around the area.
With the economy on one hand and environment on the other, it would be interesting to see which one the Sri Lankan government picks or if they find a third sustainable way out.
