Starbucks has to open a new store every 3 days to reach its goal in India

With India poised to become the world’s third-largest economy by 2030, Starbucks is doubling down on the burgeoning market.

Tata Starbucks, a joint venture between Starbucks and Tata Consumer Products, plans to operate 1,000 cafes in India, the company announced yesterday (Jan. 8).

Starbucks currently has 390 stores across India. To meet the new lofty goal, the coffee chain will need to execute one new store opening every three days, CEO Laxman Narasimhan said during a visit to India.

It sounds like a herculean task — but it’s only a little bit more of a push than what Starbucks has already been doing. “We have opened one store every five days,” Narasimhan said in a CNBC interview published today (Jan. 9).

Starbucks needs the push now more than ever. A win in India is especially crucial after China relegated the US-based coffee giant to the No. 2 spot there, behind the homegrown Luckin Coffee. $Starbucks(SBUX.US)$ $Luckin Coffee(LKNCY.US)$