The first store in the capital New Delhi will open imminently, the company said.
The deal comes as part of Holland & Barrett’s plans for major international expansion to make its global franchises bigger than its UK and Ireland core where the business began and over 700 stores are currently located.
The Indian stores build on from the 104 franchised stores already under the Holland & Barrett brand.
Such outlets have the Holland & Barrett name above the door and must stock 80% Holland & Barrett products.
Before the Apollo Hospitals deal the company said it had a total if 1071 stores under its brand including franchises.
In its last financial year Holland & Barrett saw sales climb from £513.6m (€652.12m) in 2014 to £573.8m (€728.16m) in 2015, outperforming a somewhat flat sector that recently saw Tesco's close its NutriCentre venture venture after 15 years.
About £133m (€168.78m) – or 26% – of Holand & Barrett's 2015 revenue of €728m came from international sales.
Owned by US supplement giant NBTY since 1997, the company has set itself a sales target of £1bn (€1.27bn) by 2020. New stores, franchising, acquisitions, joint ventures and online presence have been earmarked as key to achieving this.
Commenting on the Indian deal, Holland & Barrett International CEO Peter Aldis said in a statement: “The secret of the success of our international growth has been to combine the best of British products and heritage with local market understanding and expertise by our overseas franchisees.”
He said consumer interest in health and wellness seen in the UK is being replicated in regions like India.
The deal came as the company was awarded the Queen’s Award for International Trade – an awards programme for British businesses that excel at international trade, innovation or sustainable development.
The award marking Queen Elizabeth II’s 90th birthday today (21 April) was given to 240 British businesses including Probiotics International Ltd (Protexin).
The noted companies can fly the award flag from their headquarters and use the emblem on stationery, staff badges, advertising and packaging for products manufactured in the UK for export.
According to Euromonitor International, specialist healthcare retailers such as GNC and De Tuinen (also owned by NBTY) brought in sales of €9.78bn in Western Europe in 2015, up from €9.08bn in 2012.
Italy, Germany and France accounted for the main chunk of these 2015 sales, at €3.64bn, €1.46bn and €1bn, respectively.
The UK was the seventh biggest market in this region, bringing in retail sales of €396m last year.