Starbucks, which opened its first Indian store in the historic Elphinstone Building in South Mumbai's Horniman Circle on Friday, has expressed hope that its Indian business will finally rank among its top five markets.

Chief Executive Officer Howard Schultz said India represented one of the most important opportunities for Starbucks.

Speaking on the topic, Schultz added, "India should be one of the largest markets in the world for Starbucks. I would say one of the top five over time."

A cup of coffee at Starbucks' store costs in the range of Rs 95 to Rs 155, depending on the size. Iced coffee and blended beverages cost anywhere between Rs 115 and Rs 200.

The above-mentioned prices of Starbucks coffee are at a moderate premium to that of biggest local rival coffee chain, Cafe Coffee Day, which operates nearly 1,350 coffee stores. Café Coffee Day sells a cup of coffee for nearly Rs. 80. Cold coffee and beverages at Café Coffee Day cost less than 150.

Seattle, US-headquartered Starbucks has plans to open two more stores in the city as soon as next week. One of the two stores is planned for the Taj Mahal Palace Annexe (Gateway of India), while another for the Oberoi Mall in Goregaon East. Delhi will get Starbucks stores in the next six months.