Fast Food To Benefit From Improving Economy
There remains a great deal of scope for growth in India's fast food market for both Indian and Western firms. New quick service restaurants have been steadily entering the market, though the Indian consumer's substantially different food and cultural taste, as well as the country's poor infrastructure, continue to provide tough but not insurmountable challenges.
The quick service market is estimated to be worth more than USD10bn in annual sales per annum according to the Financial Times. Improvements in the Indian economy will add further momentum to the fast food market.
Western interest in the Indian fast food industry is as strong as ever, with Krispy Kreme, Burger King, McDonald's and Yum! Brands' Taco Bell having all announced expansion plans or new openings in the country over the past year. These Western chains account for less than 10% of the market so there is a great deal of room for multinational chains to establish themselves. Similarly, Indian chains such as Kaatizone also have a lot of room to grow.
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