According to the recent media report, more than 60 global food brands have the plan to enter India over the next five years. And they would be making $1 billion worth of investments and would be collectively opening 5000 outlets in the country.
Some of these brands include Planet Hollywood, Little Caesars, Sarpino’s Pizzeria, Ice Cream Lab, Hesburger.
According to FranGlobal, the overseas arm of Franchise India Holding Ltd, which helps global brand find partners for global brands in India.
“The overall investment is going to be anywhere between $500 million and $1 billion. Over the next three to five years, these brands expect to set up 3,000 to 5,000 outlets across the country,” said Venus Barak, chief executive officer of FranGlobal, adding that all these brands are participating in the company’s annual expo on 7 and 8 November in Delhi.
Apparently, more than 150 brands are participating in the Fran Global’s annual expo on 7th-8th November. Though the climate for the entry and expansion of global food brands is accurate, it remains to be seen how many of the companies interested would be entering into partnerships with Indian firms once the expo is over.
With the influx of money and brand power, it remains to be seem how it would affect the employment in the sector. The services market in India is growing at a rate of 10%. The entry of the global food brands could lead to an increase the growth rate, at least in the short term.