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Food services industry revives from Covid blues
To achieve an estimated annual turnover of Rs 4.72 lakh crore this year
Hyderabad: Indian restaurant industry has been immensely impacted by Covid-19. In 2020-21, the industry declined by 53 per cent, while over 25 per cent food business operators permanently shut their shops that led to 24 lakh job losses. However, the food services industry is expected to recover and reach an estimated annual turnover of Rs 4,72,285 crore this year from Rs 4,23,865 crore during the pre-pandemic period.
This was revealed by Shaaz Mehmood, Founder of NRAI (National Restaurant Association of India) Hyderabad Chapter and a member of Managing Committee – NRAI. He also announced that NRAI is hosting Indian Restaurant Conclave for the first time outside New Delhi in the past 40 years. The one-day event will be inaugurated by Telangana IT & Industries Minister KT Rama Rao at HICC on September 13, 2022.
Over a thousand delegates, including all the stake holders of the restaurant industry, prominent restaurateurs, foreign delegates, investors and bureaucrats from pan India, will take part in this event. NRAI will be conducting its 40th Annual General Meeting during the conclave. Founded in 1982, it represents over 5 lakh restaurants, QSRs, bars, cloud kitchens and catering companies across India.
