Being a food-loving country, India is the home for multi-cuisine. The influence of different cultures and traditions has built-up the craze and made Indian food recipes get good recognition globally.
Cashing in on the love towards a variety of dishes, from the past twenty-five years or so, a wide range of restaurants are being established in our country, says business strategist and Astrologer Hirav Shah
History of the restaurant business in India?
As India being a cultural country, in the initial days, most of us preferred eating home-cooked food made by women in the middle class- lower-class one and by home maids in rich families.
But things have changed post-French revolution across the world due to which significant changes came in the lifestyle of the Indian citizens.
Leaving aside the ancient times, in the modern era, many street vendors and small stall owners used to sold food in noted cities and small towns.
Eventually, the culture turned into a professional food business from the early ’80s and by 2000 approximately 2.2 million restaurants and hotels are established in India, says a study conducted by Federation of Hotels & Restaurant Association of India ( FH&RA)
Currently, the annual turnover of the Indian restaurant business is estimated at 4.2 lakh crores.
Role of International food chains in India
In the mid-90’s the entry of American food chain McDonald’s has changed things drastically in the restaurant business.
Later, noted food brands like Pizza Hut, Dominos and KFC ventured into the Indian food market and made fast food available for the middle-class at an affordable price.
Having almost half of the population below forty-five years, who are in general depending on outside food is also helping the restaurant business survive in India, opinions Hirav Shah.
Rise of Niche restaurants across the country
As an interesting development, the rise of Niche restaurants serving specific regional cuisines and specialities has emerged as a new wave in the market.
As people are showing interest to taste good food, all Indian cuisines came under one roof as Indian food by overlapping the barricades such as North India and South Indian recipes.
As the consumers are also not hesitating to taste new kinds of food, the role of Niche restaurants has become a key in the contemporary market.
The food industry in India
Being the second biggest country in the world after China in terms of population, the food industry in our country is the most important sector as mass production is required to meet the needs.
The sub-segments in the Food Processing industry:
As per the government statistics, Fruits, Vegetables, Poultry, Meat processing units, Fisheries along with milk production and massive food grains, wheat are the key items related to the food industry in our country.
Considering the production trend, the Indian government is also approving proposals like foreign collaboration, joint ventures and industrial export-oriented units.
How big is the Food Processing industry in India?
As per a recent study, Indian food and marketing industry is the sixth largest unit in the world. The contribution of retail sales is also helping the food processing unit to earn profits as seventy percent of the sales are from retail platforms.
In terms of production, consumption, export and estimated growth, the food industry in our country is growing rapidly and attained one of the top positions among other countries.
The online food ordering business is also growing at a fast pace in India with the launch of various food apps like Zomato, Swiggy, Foodpanda, Uber Eats among others.
Investments in the Food Processing industry?
As per the data provided by the Indian government, in the last twenty years, the food processing industry in India witnessed approximately 9 billion dollars worth of Foreign Direct Investment ( FDI).
In the next ten years, the estimated foreign investment in the industry is expected to witness a whopping of 33 billion dollars, says a study conducted by The Confederation of Indian industry.
What if the merger happens between restaurant owners and the Food Processing industry?
If a merger deal is done between two prominent businesses such as the Food Processing industry and restaurants, considering the above scope in the market, the result will be nothing less than a blockbuster Baahubali movie, says Astro strategist Hirav Shah.
If there is proper coordination between the owners of the respective industries, the new business platform is surely going to emerge as a successful sector in the Indian market.
As per famous business strategist and Astrologer Hirav Shah’s observation, if a merger deal is done between restaurant owners and food processing industry, the new format will spread wings in no time and earn good profits for the investors. But before the business proposal, it is always a smart move to approach an Astro Strategist, who has good knowledge regarding the above fields to gain a quick trust among the customers and emerge as a successful company.