Indian restaurant industry shrank 53% in pandemic year: NRAI report

The restaurant business worldwide was one of the hardest hit by the Covid-19 pandemic. The Indian food services market was no exception, as it witnessed 53 per cent degrowth in FY2021 compared to the previous fiscal, a report by the National Restaurant Assoc¬iation of India (NRAI) said on Monday.

The contraction in the food services industry led to the permanent closure of over 25 per cent of food business operators, which resulted in job losses of nearly 2.4 million in India. 

The Indian market size slid to an estimated Rs 200,762 crore after a high of Rs 423,624 crore in