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Quick Service Restaurant chain Subway is planning to set up 1,000 stores in India by the year 2015 with an estimated investment of $58 million (Rs 304 crore). The brand is currently present in 50 cities with 263 operating restaurants pan-India. Mr Fred DeLuca, President and Co-founder of Subway said, “India is a promising business destination with a young, educated population having growing disposable income. Subway will continue to evolve and adapt its product offerings to suit the Indian taste. Our focus however would always be health, freshness and quality.” He said the company plans to grow in the domestic market through the franchise route. “Out of the 115 franchises awarded in India in the past one year, nearly half were awarded to existing owners. We have seen 32 per cent rise in inquiries,” Mr DeLuca said. Subway is now looking at developing its market in tier-II and tier-III cities.
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