McDonald’s Corp. plans to step up its expansion in India this year and next after finding that the country’s new middle class will line up for its fast food, even in the smaller cities.
After opening about 35 new stores this year, Indian franchisees of the U.S. burger chain plan to open 45 branches or more next year, said Vikram Bakshi, managing director of McDonald’s operations in the north and east of India. They will have about 210 stores in India by the end of this year, he said. The company expects its revenue to rise by more than 30% this year, he said, with about half of the growth coming from new outlets and half coming from increased spending by existing customers.
“The existing customer is coming in more often and has more money in his pocket,” he said.
