Walt Disney Co is planning a foray into India with a chain of stores to sell its branded stationary, craft and apparel products.

As part of an INR1bn (US$22m) a franchise agreement with local company RJ Corp, part of the New Delhi-based Jaipuria Group, around 150 stores will be opened across India over the next five years.

The launch of the Disney Artist stores comes as part of Disney's efforts to boost its presence in India, where there is growing demand for branded products from the West.

The move also follows moves by the government earlier this year to allow foreign companies to set up single-brand retail stores in partnership with Indian companies.