When we are happy, or there is some celebration time we straight forward move to restaurants…isn’t it true? Birthday party…headed to restaurant; India won Match… headed to restaurant…treat to chaps… headed to restaurant! That is how restaurants affect our life. In some part of Singapore and Thailand apartments do not even include a basic cooking facility, so obvious restaurants and eateries are integral part of their life.
India is also not exception, now one can find restaurants in every nook and corner of their street. The market size of India’s restaurant sector is Rs. 247,680 Crore that is 24 times bigger than Bollywood and it’s projected to grow Rs. 408,040 Crore by 2018. Even, during the recession it was shock proof industry.
According to a survey around 61% in the age group of 14-17 years eat out at least once in a week. The main challenge is that 70% of this industry is unorganized that deprive it from major benefits. The next big challenge is that the industry is overtaxed over licensed that are hampering its growth.
The FHRAI the apex body of the Indian hospitality industry that represents over 4100 members, including hotels, restaurants is taking cognizance of these problems and planning to put forward to the government.