McDonald’s entered India in 1996, against the backdrop of a market that was hesitant to try fast food and was still dependent on the "tiffin" lunch boxes many lug to work.
Two decades later, things have changed. India’s fast-food industry is expected to double in size between 2013 and 2016, to $1.12 billion, according to the Economist Intelligence Unit. And demographic trends mean it could become the next mega-market for international fast food players.
The country’s fast-food market today is only one tenth the size of China’s, said Ajay Kaul, CEO of Jubilant FoodWorks, a company that grants franchises in India for Domino’s Pizza and Dunkin Donuts. But unlike China, which saw a decline in fast-food sales last year, India’s market is expected to grow, thanks to changing consumer preferences and the largest youth population on earth.
(Source: CNBC)