Food in a Tinderbox
Business Today|June 14, 2020
The restaurant industry is close to irreparable damage. Can it be saved?
MANU KAUSHIK
Food in a Tinderbox

Gurugram-based restaurateur Zorawar Kalra, Founder and MD of Massive Restaurants, is surprised. In the five tranches of the economic stimulus package released by Finance Minister Nirmala Sitharaman, the ₹4-lakh crore restaurant industry didn’t even find a mention. Kalra claims that the industry is the second-largest employment generator in the country after agriculture, and feels that it should have been given some stimulus. Yet, he remains hopeful, primarily because he thinks that the industry is important, and will not be ignored by the government.

“In London, where I am operating an outlet, the government has paid 80 per cent staff salaries. In Canada, the government and landowners are paying 75 per cent of real estate rentals. The government has addressed the concerns of the agriculture sector well, and as a result, I still believe that something is around the corner,” he says.

The stimulus, whenever it is announced, would not have come a day too soon. Rahul Singh, Founder and CEO of seven-year-old alco-beverage chain, The Beer Café, has the numbers on his fingertips; how much he is losing every day and losses the industry will have to incur in the current financial year. Singh had learnt the business hard way, after failing in his indoor golf venture some years ago, where he realised the importance of the restaurant business. Singh says it’s now back to square one for him.

Dineout, a dining out and online table reservation tech platform, says the F&B (food and beverage) industry contributes about 3 per cent to the GDP and employs more than 7.3 million people. With the coronavirus pandemic, nearly 30 per cent of those employed are at the risk of losing jobs; the monetary loss could be as high as ₹1 lakh crore.

この記事は Business Today の June 14, 2020 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

この記事は Business Today の June 14, 2020 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

BUSINESS TODAYのその他の記事すべて表示
"Focus on the challenge of each customer"
Business Today India

"Focus on the challenge of each customer"

SHASHANK KUMAR MD & CO-FOUNDER I RAZORPAY Razorpay is India's first full-stack financial solutions company

time-read
1 min  |
December 08, 2024
PEDAL ON THE FUTURE
Business Today India

PEDAL ON THE FUTURE

THE MG WINDSOR EV, WITH ITS FUTURISTIC AND MINIMALIST DESIGN, COMBINES THE BEST OF BOTH WORLDS-COMFORT AND TECHNOLOGY

time-read
1 min  |
December 08, 2024
BREATHE EASY
Business Today India

BREATHE EASY

Whether you're battling allergies, looking to remove pollutants, or simply want to breathe easier, the right air purifier can make a difference

time-read
2 分  |
December 08, 2024
The Taste of India in a Glass
Business Today India

The Taste of India in a Glass

FROM ROYAL LIQUEURS TO DISTILLED MAHUA, INDIAN HERITAGE ALCOHOLIC BEVERAGES ARE HAVING THEIR DAY IN THE SUN

time-read
4 分  |
December 08, 2024
LOOK BEFORE YOU LEAP
Business Today India

LOOK BEFORE YOU LEAP

IN 2025, INVESTORS WILL NEED TO FACTOR IN VOLATILITY ACROSS ASSET CLASSES

time-read
5 分  |
December 08, 2024
MISSING ADVISORS
Business Today India

MISSING ADVISORS

INDIA HAS JUST ONE INVESTMENT ADVISOR FOR NEARLY EVERY 200,000 INVESTORS. AT A TIME WHEN RETAIL PARTICIPATION IN THE STOCK MARKETS IS BOOMING, THIS ASSUMES SIGNIFICANCE

time-read
7 分  |
December 08, 2024
TURNING A CORNER
Business Today India

TURNING A CORNER

SHARED ELECTRIC MOBILITY START-UP YULU'S SHIFT TO SERVICING THE QUICK COMMERCE SECTOR IS HELPING IT GROW FAST. IT IS NOW FOCUSSING ON IMPROVING ROAD SAFETY FEATURES AS IT TURNS EBITDA POSITIVE

time-read
5 分  |
December 08, 2024
REALITY CHECK
Business Today India

REALITY CHECK

INDIAN STOCK MARKETS PLUNGED BEGINNING OCTOBER FOR A HOST OF REASONS, INCLUDING A FALL IN FII OWNERSHIP. HOW DEEP WILL THE CORRECTION BE?

time-read
6 分  |
December 08, 2024
TRUMP'S TRADE TANGO
Business Today India

TRUMP'S TRADE TANGO

The return of Donald Trump as the 47th President of the US has put the global economy on edge. India, too, is unlikely to remain unaffected. How will policymakers meet this latest challenge?

time-read
9 分  |
December 08, 2024
"The essence of the Trump administration will be transactional”
Business Today India

"The essence of the Trump administration will be transactional”

Global investor, analyst, and best-selling author Ruchir Sharma decodes why Donald Trump won the elections, what India should do, the risks, and more

time-read
10 分  |
December 08, 2024