Anand Sharma, Union Minister Commerce & Industry & Textiles at 'India Food Services Report 2013'
April 26, 2013 | COMMENTS ( 0 )
The current size of the Indian food service industry is Rs 247,680 crore and is projected to grow to Rs 408,040 crore by 2018 at 11%, according to the India Food Services Report 2013, a comprehensive report on the Indian restaurant industry, released by the National Restaurant Association of India (NRAI) on April 23, 2013. Released by Anand Sharma, Union Minister Commerce & Industry & Textiles the report gives detailed information on the industry size and highlights the industry's trends, growth and contributions to the economy. The Minister assured all help to the industry pertaining to tax regime, and coordination amongst various ministries for supporting food services. Through the report, the NRAI revealed the opportunities and challenges, faced by the industry and suggested solutions to face them. Key findings of the report In terms of market segments, quick service restaurants (QSR) and casual dine-in formats account for 74% of the total chain market, while cafs make up for 12% with Fine Dining and Pub Bars Club & Lounges (PBCL) comprising the rest. The chain and licensed standalone industry will contribute an estimated Rs 11,500-11,900 crore in 2013, projected to contribute more than double to Rs 24,600-25,000 crore by 2018.