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Pepsi Cola and Coca Cola have been know to fight a "holy war" over the past few decades. In large markets like India with its1 billion + citizens, the market is huge that none of the competitors will give up easily !!
My research into this topic has revealed the following links which provide excellent coverage and in depth analysis of the competitive situation between the two companies
There are several other links on the subject, but the ones above seem to give a fair good idea of the situation !!