Franchise market to grow by 35 pc: FAI

New Delhi, Jan 30 (UNI) The country's burgeoning franchise market is estimated to grow by 35 per cent per annum from the current figure of 2.7 billion dollars in the coming few years, the Franchise Association of India (FAI) said today.

''With the growth of entrepreneurial skills and a rise in income, India is a potential breeding ground for franchising industry. The retail revolution has brought many brands to India and franchising industry provides it with required resources to expand,'' the apex body's President C Y Pal said.

To identify and recognise best practices in the business of franchising, Franchise Plus magazine and FAI will organise the Indian Franchising Awards 2007 from March 10-12.

The three-day event, which includes exhibition, summit and awards, will honour outstanding players with a proven success record across 13 categories. An eminent jury, including industry captains, has been formed to analyse the nominations.

''The process of selection of nominees for the Indian Franchising Awards 2007 will involve a comprehensive industry poll that would be conducted across the country and a self-nomination option based on a pre-defined parameters,'' said FAI President (North India) Anurag Batra.

The last day for registering the nominations is February 20, he added.

FAI is a registered non-profit organisation under the Companies Act 1956. It was formed about five years ago to promote the concept of franchising in the country.

UNI