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.

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

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 ...

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.

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,

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.