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A KPMG-CII report states that the growing preference for branded and quality products, coupled with increasing purchasing power, may help the franchising industry to grow four-folds to USD 50.4 billion by 2017, according to PTI.
"Shifting consumer trends, including growing preference for branded products, global exposure and use of international brands are driving the growth of franchising industry in the country," says the report released by KPMG-CII.
According to the report titled 'Collaborating for Growth', the franchising business was around USD 13.4 billion in 2012 and expected to record a compounded annual growth of 30 percent in the next five years.