India is witnessing an unprecedented consumption boom, and despite the global economic slowdown, India is still the second fastest growing economy in the world. India's middle class will swell by more than ten times—from its current size of 50 million, to 583 million people—by 2025. By 2025, India will also become the 5th largest consumer market. It is estimated that the Indian retail market will increase from $330 billion in 2007 to $427 billion by 2010 and $637 billion by 2015. The Indian franchise market generated sales revenue of an estimated $2.7 billion during 2007-08 with an impressive annual growth rate of approximately 30 percent. According to industry sources, with an investment of $1.1 billion, and a sales turnover of $2.7 billion, over 700 franchise ventures, including over 70 international franchise operations, successfully operate in the country.