Connecticut-based quick service restaurant chain Subway plans to invest more than Rs300 crore (US$58 million) to expand its network in India via franchising.

The investment will be used for adding 1000 new outlets by 2015 to its current network of 263 franchisee-run restaurants operating in 50 cities across the country. The expansion will be spread across second- and third-tier cities.

“India is a promising business destination with a young, educated population having growing disposable income,” said Subway president and co-founder Fred DeLuca. “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.”

The additional outlets are expected to create 15,000 jobs.

Subway, was founded in 1965 and is owned and operated by Doctor’s Associates Incorporated (DAI). It had 36,663 stores in 100 countries as at April this year, making it the world’s largest fast food chain.

GB