From Ayurvedic medicines and consumer goods to fast food. Dabur’s vice-chairman Amit Burman is now on an entrepreneurial drive to set up a chain of quick-service food outlets.
“We are going to invest Rs 200 crore towards 200 “Lite Bite” food joints to be set up
soon all across India,” Burman told reporters on the sidelines of the Food Forum of India industry seminar last week.
The Lite Bite chain would be operated by a privately held company, Lite Bite Foods Pvt Ltd and span various formats such as food courts, fine dine, catering, banquets and cafes.
The country’s retail food service market, both organised and unorganised, is estimated to be worth $18 billion (about Rs 91,800 crore) a year.
Though the share of food in the average household expenditure is expected to go down from 38 per cent in 2008 to 25 per cent in 2025, the per capita expenditure on food is expected to grow.
“In food, you don’t make money from branding, but from technology,” said Ireena Vittal, principal, McKinsey & Co, at a recent seminar on food business.
Vinod Sawhny, president and chief operating officer of Bharti Retail, said, “Contract farming, if encouraged can also help overcome the challenges.” He added that Bharti has stated contract farming in Punjab and some other parts of India.