McDonald's India franchisee to open 30 new stores in 2011
The franchisee would invest $111 million in India over the next three to four years.
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, a top executive said.Speaking to Reuters in an interview, Hardcastle Restaurants Private Ltd vice-chairman Amit Jatia also said the franchisee would invest $111 million in India over the next three to four years.Hardcastle will have a total of 250 McDonald's restaurants in three to four years in the two regions, up from 106 now, Jatia said.Hardcastle Restaurants is now a licensee of McDonald's in India, after the world's biggest restaurant chain sold its 50 percent stake in the joint venture to its local partner last year, Jatia said.