McDonald’s Corp’s Indian franchisee plans to set up 30 new restaurants in the southern and western parts of the country this year, as part of the restaurant chain’s expansion plans in Asia’s third-largest economy.
Speaking to Reuters in an interview, Hardcastle Restaurants Private Ltd Vice Chairman Amit Jatia said the franchisee would invest $111 million in India over the next three to four years.
Global retail and restaurant chains have been looking to aggressively expand in India, where more than 60 percent of the population, or 700 million people, are under the age of 30 and make a prime target for fast-food chains.