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Food industry says set for dizzy growth

The largely unorganised food service industry, valued at Rs 247,680 crore, is projected to grow 11% to Rs 408,040 crore by 2018, says the latest ‘India Food Service Report 2013’ prepared by the National Restaurant Association of India (NRAI).

business Updated: May 14, 2013 21:28 IST
HT Correspondent

The largely unorganised food service industry, valued at Rs 247,680 crore, is projected to grow 11% to Rs 408,040 crore by 2018, says the latest ‘India Food Service Report 2013’ prepared by the National Restaurant Association of India (NRAI).

In terms of market segments, quick service restaurants (QSR) and casual dine-in formats account for 74% of the total chain market, while Cafés make up for 12% with fine dining and pub bars club and lounges (PBCL) comprising the rest.

The NRAI report claims that the organised chain and licensed standalone portion, which is about 5% of the total industry, is projected to contribute Rs 24,600-25,000 crore by 2018.

“The opportunity is huge as the government can generate an additional collection of Rs 17,000–26,000 crore through closer monitoring of tax collection from the unorganised segment,” said Samir Kuckreja, president, NRAI.

“The Indian food services industry has witnessed strong growth over the past few years and is expected to continue growing at an exponential rate over the next five years. It is expected to touch $28 billion mark on the back of changing consumption habits of consumers and emergence of new players” said Amit Jatia, vice-chairman, Hardcastle Restaurants (McDonald’s India - West & South).