This note on the Indian soft drink industry describe the nature of competition unfolding in the Indian market as a result of the entry of Pepsi in a market dominated by Parle for almost two decades and the recently of Coke after and withdrawal from India in 1977.The note provides information on the products which are being marketed in India, their market shares, growth trends, government policies, the main actors and the competitive strategies adopted by the competing firms. The note may be used to explore the nature of competition in global industries that are dominated by a few multinationals but having single strong domestics players and few small ones.