Balachandran takes over from Kaushik Mitra, who will retire after a 24-year tenure with PepsiCo, effective 15 April 2026. Mitra’s departure marks the end of a long chapter in which he played a central role in building PepsiCo’s finance function and guiding the company through multiple growth cycles across India and South Asia.

In her new capacity, Balachandran will lead PepsiCo’s financial operations across a portfolio that spans beverages and foods, including iconic brands such as Pepsi, Lay’s, Kurkure, Tropicana, Gatorade, Quaker, Nimbooz, and Aliva, across India and neighbouring markets. She will be responsible for shaping financial strategy, governance, performance management, and risk frameworks to support the company’s long-term growth objectives.

The appointment follows a structured transition plan designed to ensure continuity in financial leadership and alignment with PepsiCo’s broader strategic priorities. India has been designated by PepsiCo as a core “anchor market,” underscoring its importance in the company’s global growth architecture as it navigates competitive and macroeconomic pressures.

Balachandran brings a deep track record of financial leadership from the Tata Group. She most recently served as Chief Financial Officer at Tata Technologies, where she was instrumental in steering the company’s financial strategy and execution, including leading its IPO in 2023. Prior to that, she held several senior finance leadership roles at Tata Motors, where she oversaw complex finance functions and contributed to strategic decision-making.

In her LinkedIn announcement, Balachandran described India and South Asia as a “compelling growth opportunity,” highlighting her focus on driving sustainable growth and value creation for the business, consumers and communities. Her appointment signals PepsiCo’s intent to sharpen financial discipline and operational excellence as it scales in high-growth markets.

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The disagreement stems from a recent government clarification categorizing snacks as either extruded or non-extruded. Extrusion is a food processing technique involving the pushing of ingredients through a machine to achieve a desired shape, commonly used in the production of many ready-to-eat snacks. Examples of extruded snacks include finger snacks like PepsiCo’s Kurkure, Prataap Snacks’ Yellow Diamond puffs and rings, and ITC’s Bingo Mad Angles. On the other hand, biscuits and potato chips are classified as non-extruded snacks. Industry experts estimate that extruded snacks contribute 25-30% to the total salty snacks market worth Rs 47,000 crore, with the remaining share coming from non-extruded snacks.

While food companies have been paying a 12% GST on snacks overall, the GST Intelligence body is now insisting on an 18% GST for extruded snacks and maintaining the 12% rate for non-extruded snacks, according to reports.

Sources within the food industry have revealed that the aforementioned companies, along with a few others, have received notices totaling approximately Rs 1,000 crore in terms of additional GST to be paid by them. However, there has been no official confirmation of this report as of yet.

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