"With the growing middle class and disposable incomes, there is no better emerging market than India. We are excited to be present in India with plans to open first restaurant in Chandigarh in the second quarter of 2012," Gold Block Pvt Ltd MD and CEO Janaka Wimalananda told PTI.
He said Gold Block that runs premium Chinese restaurants in Colombo, including Loon Tao, is hoping to set up around 50 outlets across India in the next five years.
"A franchisee would be required to make an investment of around Rs 2 crore (Rs 20 million) per restaurant," he added.
Similarly, Dubai-based diversified business conglomerate BinHendi Enterprises that currently operates five exclusive Hugo Boss stores in India is eyeing the food and beverages segment here.
"Going ahead, we wish to bring in a host of restaurant brands which we own such as Havana, Bella Donna and Japengo for which we are looking for franchisees in India," BinHendi Enterprises president Mohi-Din BinHendi said but did not share specifics of the plan.
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