Bullish about the informal eating-out (IEO) industry in India, McDonald’s India is set to invest Rs 1,000 crore in the next three years, taking up its total outlets to 500. Currently, the quick service restaurant (QSR) runs 250 outlets across the country.
“The IEO industry in India is growing steadily at 15 per cent per annum. McDonald’s has a long-term view about the country,” said Amit Jatia, vice-chairman of Hardcastle Restaurants, which has the west and south zones’ licences for McDonald’s in India.
About 170 outlets fall under Hardcastle Restaurants, while the rest are run by Connaught Plaza Restaurants. The QSR segment is 19 per cent of the total IEO market in India as compared to 54 per cent in Australia.
Cracking the whip on domestic cricketers caught in the IPL spot-fixing scandal, the BCCI today slapped a life ban on pacer T P Sudhindra and handed ...