"For food processing companies like us, I think India represents top three markets in the world. India is a very different market from any western developed market," Pepsico Chairman and Chief Executive Officer Indra Nooyi said on the eve of its board meeting in Mumbai from Wednesday.

This will be the second time PepsiCo's global board meeting will be held outside the US after the first one in Mexico five years ago.

Nooyi said India is a large vibrant market and should focus on developing India-specific strategies to sustain it.

"You cannot just import the western solutions to India.

You have to crack solutions, which are right for India, right for the people, right for the country, right for its farmers," she said.

The company, which is holding its global board meeting in the country this month, said the event will be a "historic" one as it is an opportunity to highlight issues and propose investments in India.

"I think it is going to be a historic board meeting... Show them (board members) the glory of India, the issues of India, so that we propose solutions, investments in India.