Viacom 18-MTV, one of India's largest entertainment networks, will soon enter into a new commercial venture
Reema Lokesh – Mumbai
Viacom 18-MTV, one of India’s largest entertainment networks, will soon enter into a new commercial venture. The company is all set to enter the food space with plans to set up retail food outlets across the country.
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According to an analysis by ASSOCHAM, the quick service restaurants (QSR) sector in India is currently growing at a compounded annual growth rate (CAGR) of 25 per cent and is likely to touch Rs 25,000 crore mark by 2020 from the current level of Rs 8,500. The analysis also revealed that entry of various national and international players in the QSR space has significantly widened the chain market due to fast expanding middle class, urbanisation, youth spending, nuclear families and better logistics.