The mindset itself says a lot about the thought process of people and this is what attracts the market players internationally to enter into the competitive market of India. At present, if reports are to be believed, India is a leading commercial and economic hub in the South Asian region and several international entities are coming to the country with franchise opportunities. It has been reported that these franchises are helping the companies increase their footprints in India and also playing an important role in the country’s economic development with greater job creation.
Popularly known as Quick Service Restaurants (QSR), the fast-food industry has witnessed an exponential growth in India. The latest report by CRISIL, international fast food brands hold a 63% share of the Indian QSR market and this landmark took place ever since McDonald’s entered with its first outlet in 1996. According to experts, the trend has been accredited to primarily two factors: a spike in the disposable income of youngsters and a large youth population. Owing to these factors, the Indian fast food industry is expected to further prosper at an annual rate of 10% and be worth US$ 27.57 billion by the end of 2020, making it a brand new mega-market for international players.
This story is from the February 2020 edition of Food & Beverages Processing.
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This story is from the February 2020 edition of Food & Beverages Processing.
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