It’s easy to find out that franchising in India holds a very important position and it is based on relevant chains. India is a multiethnic country, which counts more than a billion of inhabitants.
Although franchising, as a system to make business, is growing up swiftly, India still hasn’t any specific law to rule it. However, there are some regulations which deal the relations between franchisor and franchisee, as, for example, the Contract Act (regulation about agreements), Competition Laws (laws concerning the competition), Intellectual Property Laws (which protect the property of the intellectual work). Moreover, there are some regulations to be considered by people who, as franchisor, aim to develop in India: laws which regulate the foreign exchanges, the taxation, the Labor regulations and the property laws.
The world of Indian franchising can trust in the Franchising Association of India (FAI). The association is a membership organization of various bodies dealing with the local economical development as, for example, the Organisation of Franchisors, Franchisees, Vendors, Consultants, Financial Institutions and Students, or the prestigious World Franchise Council. The very 1st aim of FAI is to promote and safeguard the business environment for franchising and to rule the relations between franchisors and franchisees. It has a pre-eminent position in establishing forum for discussion and deliberation on franchising, to go deep into this system by organizing seminars, lectures and meetings.
The total manpower directly employed by these franchised businesses is around 300,000, there are over 600 active franchisors and over 40,000 franchisees (across sectors) in India today, and all these data are expected to grow, as the number of people looking at this new way to start biz is growing up day by day. The most relevant Indian fields are those of the educational services, which stay at the 1st position, followed by services for disabled people and business services.
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