NEW DELHI, Oct 26 (NNN-PTI) – A report released by the National Restaurant Association of India (NRAI), yesterday said, the restaurant industry or the food services industry in the country, contracted by about 53 percent in the financial year 2021, in the wake of the COVID-19 pandemic.
The report said, globally, the food services industry was amongst the hardest hit by the COVID-19 pandemic, with India being no exception.
“In FY21, Indian food services industry contracted severely, leading to permanent closure of over 25 percent of food business operators which resulted in job losses of nearly 24 lakh (2.4 million) people,” it said. “In FY21, the food services industry in India declined by 53 percent.”
The report said, the restaurant industry employed about 7.3 million people and was one of the largest employment generators for the economy in India.
NRAI is a body representing the Indian restaurant industry and represents the interests of over half a million restaurants.
The report cited measures taken by the federal government and policy advocates, and also offered recommendations to the (state) governments, to bail out the industry.– NNN-PTI
