Mr. Nandan Nilekani, Co-founder and Chairman, Infosys, Releases NRAI IFSR Report, 2019. “NRAI IFSR 2109 estimates Bengaluru’s organized food service market at INR 20,014 crore which is third highest amongst metros in India”

“Average spend per month per household on eating out is INR 3586 in Bengaluru higher than national average of INR 2500”

Bengaluru, May 20, 2019: NRAI India Food Services Report -2019 (NRAI IFSR 2019), along with a Bangalore specific report, is being launched by today. According to the report, Bengaluru, the pub city of the country, accounts for the third highest share of the organised food service market amongst metros in India with an estimated size at INR 20,014 crore for 2018-19.

Released.once every 3 years, NRAI IFSR 2019 is the 4th edition of National Restaurant Association of India’s study to map trends, opportunities and challenges of India’s food services sector. The report is a comprehensive compilation of data gathered from in-depth interactions with over 130 restaurant CEOs and 3500 consumers across 24 cities in India. The exclusive Bengaluru specific pull out provides extensive data on a variety of parameters like average monthly spend per person, popular hangouts, employment and consumer eating out behaviour trends.

The NRAI IFSR 2019 estimates overall Indian food service industry’s market size at INR 4,23,865 crore in 2018-19which is expected to grow at a CAGR of 9% to reach INR 599,782 crore by 2022-23 . Rahul Singh, President, NRAl said, “It is the largest industry in the service sector in the country after retail and insurance and is 20x of the film industry, 4.7x of hotels and 1.5x of the pharmaceutical sector.”

Rahul Singh, while noting contributions of the Restaurant sector mentioned, “The Indian Restaurant Industry employed 7.3 million people in 2018-19. The organized food service sector, which is only 35% of the total market , contributed a whopping INR 18,000 crore as way of taxes in 2018-19. The number is expected to more than double if the unorganised sector becomes organized”.

Chef Manu Chandra, Bengaluru chapter head of NRAI, sharing the highlights the Bengaluru supplement said ” the average spend per household per month on eating out has been estimated at INR 3,586 in Bengaluru, higher than the national average of INR 2500. This growth of Bengaluru’s food service industry has been accredited to the cosmopolitan culture and IT and ITES sector jointly sparking a revolution in the eating and cooking habits of the residents. The city has approximately 42,000 restaurants and employs over one lakh persons”.

“High graft in renewal of licenses, lack of new liqour licenses, ban on live musical entertainment in restaurants, archaic fire safety rules immobilising restaurants to procure PEL etc are posing peculiar challenges curbing the growth of the Primising food services sector in Bengaluru. Resolving them with necessary amendments in the law will help in improving ‘Ease of doing business’, creating more jobs and increased revenues for the government” he added

Introducing the trade report to the audience, Mr. Samir Kuckreja, Past President and Trustee,NRAI said, “NRAI IFSR 2019 is an in-depth research study which maps out the scale and impact of India’s food services sector. This report is crucial for the industry to garner the necessary support and recognition from the government and its agencies for providing a fillip for consistent and sustained growth. I would like to thank all the NRAI members for their contribution to the research study.

City Today News

(citytoday.media)

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