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

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

Topics
restaurants | food services market

Ritwik Sharma 

Restaurants
Revenue and profitability also took a significant hit due to Covid-19, with average revenue post-lockdown seeing de-growth of 46 per cent compared to pre-Covid levels. (Photo: Bloomberg)

The restaurant business worldwide was one of the hardest hit by the Covid-19 pandemic. The Indian 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.

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First Published: Mon, October 25 2021. 21:20 IST
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