New Delhi, Sept. 3 -- Budweiser-maker Anheuser-Busch InBev (AB InBev India) is stepping up investments in the country, putting more money behind states where policy changes are making the economics of selling beer more attractive. The world's largest brewer has invested an average of over $25 million a year in capacity expansion in India, including faster canning lines and brewery upgrades, as it bets on markets offering greater flexibility on pricing and more affordable beer.

The brewer has also invested about $10 million in localizing production of Corona and Hoegaarden, while its latest investment in Rajasthan is expected to be about $20 million, Kartikeya Sharma, president, AB InBev India and Southeast Asia, told Mint. Overall, the c...