Yum Brands to open 600 Taco Bell stores in India |
Famous American fast food company Yum Brands, which operates Pizza Hut, Taco Bell and KFC, has committed to open 600 outlets of Taco Bell in India and employ around 20,000 people. This will make India the second largest market for Taco Bell outside the US. Taco Bell International announced on Wednesday that the company has signed a master franchise agreement with Burman Hospitality which runs consumer goods company, Dabur. Taco Bell, which serves burritos and tacos, will also open cloud kitchens in the domestic market. Taco Bell International plans to open 600 restaurants in India over a period of 10 years. Currently, there are 7,000 Taco Bell restaurants in the US and 500 are located in other countries. The deal will make Burman Hospitality one of the Taco Bell franchisees globally by store count. Taco Bell entered India in 2010 and opened a few restaurants on its own. It signed on Burman Hospitality as a franchise partner five years later, which led to the opening of 35 restaurants across the country. According to estimates, the investment per store will be around 427 thousand dollars. The Indian food service sector is currently estimated at 60.3 billion dollars and is projected to reach 85.4 billion dollars by 2023.
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