Foreign brands bullish on India

IN SEPTEMBER, FASHION label Armani opened its restaurant Armani/Caffè in Mumbai. In October, American shoemaker Foot Locker opened its first India store in the capital city.

According to analysts, India's aspirational population and their increasing exposure to other countries have led to a high demand for these brands, making the country an attractive destination for them to set shop.

"With a young, aspirational population and a burgeoning middle class, the nation offers immense consumer potential," said Naveen Malpani, partner and consumer industry leader at Grant Thornton Bharat.

"Rising disposable incomes and a shift toward premium products and global experiences make India a lucrative market for international players," he added.