India to invest $1 billion in Biryani King’s restaurant in US
India’s largest food conglomerate, Biryana King, is to invest a record $1.5 billion in a new restaurant in the United States, with plans to double its capacity to serve more than 500,000 diners a month by 2021.
The investment, the largest in India to date by a single food company, follows on the heels of the announcement by Indian-based conglomerate KFC that it would open a new U.S. restaurant in Washington DC.
The restaurant will be called Biryanna’s.
Biryanyans Biryannas Biryainas will feature a biryana bar and two wings.
Biryani has already established itself as a global icon, with its signature crispy chicken wings, grilled meats, and spicy chili sauce.
It also operates an online restaurant, Bishnoi.com, and has plans to expand to serve food and beverage in the coming years.
Bishnai has also opened restaurants in Australia and Dubai.
“The Indian food and hospitality industry is growing at a rate of 20% annually and Biryanas brand is one of the leading brands in India,” KFC said in a statement.
KFC also announced plans to open a restaurant in San Francisco by 2021, and a restaurant at the new restaurant will take over the former Biryanya restaurant at 1 Golden Gate Park.
India’s food and tourism sectors have been booming in recent years, with a surge in foreign direct investment in the past few years.
Since the country became independent in 1947, the number of foreign direct investments in India has nearly doubled from $1 trillion to $4 trillion.