Tata Consumer Products has denied a report suggesting American coffee chain Starbucks could exit India soon due to rising losses and high operating costs

Rumors circulated about Starbucks exiting the Indian market due to high costs and low profitability. However, Tata Consumer Products, Starbucks' partner in India, refuted these claims, stating their commitment remains strong.

Titled "Starbucks to Exit India Due to High Costs, Bad Taste, and Mounting Losses," the report speculated that Starbucks could soon leave India due to heavy losses courtesy of price-conscious Indian consumers preferring cheaper local substitutes, Hindustan Times reported.

Tata in a 50:50 joint venture with US-based Starbucks Corporation operates a cafe chain in India under the brand name of Starbucks, which is the leading cafe chain in India. Starbucks had 457 stores across 70 cities at September-end and the company aims to ...

India's Tata Consumer Products will push back plans for some new Starbucks store openings until later in its existing schedule as fewer customers are walking into its cafes in the world's most populous country,

Rumours have been circulating about Tata Starbucks JV shutting down operations in India due to rising losses and high operating costs.

According to a separate report earlier this week, fewer customers are walking into cafes, which has coerced Starbucks to recalibrate its plan to open more stores.

Tata Starbucks refuted exit rumors, reaffirming its commitment to India's growing coffee market. Despite widening losses to ₹79.97 crore in FY24 due to expansion, the 50:50 joint venture with Tata Consumer Products Ltd.