Starbucks Expands into India

First store in southern Mumbai

Starbucks inaugurated its first store in India on Friday in a historic building in southern Mumbai as the Seattle-based coffee giant seeks growth in Indian market.

"It is perhaps the most elegant, beautiful, dynamic store we've opened in our history," chief executive Howard Schultz said in an interview.

After over six years of studying the local market, Starbucks is making a rapid-fire entry into Asia's third-largest economy. The company, in a joint venture with Tata Global Beverages, plans to open two additional stores in Mumbai next week on Wednesday in the Taj Mahal Palace hotel and on Thursday in the Oberoi hotel across town before launching in New Delhi early next year.