Coca-Cola India Says May Have to Shut Factories if New Sin Tax Passed

The Indian subsidiary of Coca-Cola Co (KO.N) said on Friday it may have to close some bottling plants if the government pushes through a proposal that would subject fizzy drinks to a 40 percent "sin" tax, as part of a broader fiscal overhaul. The beverage maker, which operates 57 factories and bottling plants across India, said a proposal to group sugary sodas with higher-taxed luxury cars and tobacco would hurt demand for its drinks. "It will lead to a sharp decline in...

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