New Delhi: The global callaway market has been in a slump for the past two years due to rising prices and a slowdown in the emerging markets, but India is hoping to see a revival in demand for its premium brands in the coming years.

Callaway, which is the world’s second-biggest specialty brand after KFC, is targeting its Indian operations in India, China, Malaysia, Singapore and Thailand as it tries to compete with the likes of Pizza Hut, KFC and Taco Bell.

India’s top brand, Callaway, is one of the biggest beneficiaries of the Indian luxury industry.

India has been a major consumer of luxury brands in recent years, but demand has dipped, as India struggles with chronic power shortages and rising food inflation.

India also faces high inflation and food scarcity, which makes luxury brands such as KFC a particularly attractive target.

In India, the number of luxury retail stores has more than tripled over the past decade, to 1.9 million in 2016 from 500,000 in 2005.