US-based Yum! Restaurants that run Kentucky Fried Chicken and Pizza Hut restaurants will invest up to $ 150 million (about Rs 700 crore) in India to expand its food chains and plans to have 1,000 outlets by the end of the 2015.
“The company will fund its investment trough internal accruals,” company’s managing director, Niren Chaudhury told reporters on the sidelines of the India Economic Summit on Tuesday.
“We are also looking to hire 50,000 employees by 2015 and our vision is to be the number 1 restaurant chain by 2015. In the next six years we will also increase the number of restaurants to 1000 from existing 215 restaurants that include 150 Pizza Huts and rest Kentucky Fried Chicken outlets,” Chaudhury said.
Yum Restaurants is also working to dish out a pure vegetarian meal for the Indian markets, Chaudhury said. The company is also looking to earn annual revenue of $ 1 billion (Rs 100 crore) by 2015.