At $48 Bn India's Food Business Larger Than Telecom Sector
Bangalore: Indians are known as foodies who not only love to eat but also love to enjoy each and every spice added to it. The Indian food industry is one of the very promising markets in the emerging economy and has also gained world wide fame over the years.
Many of you will be surprised to know that the Indian food industry market share and revenue figures are even bigger than that of film and telecom sectors. The increasing living standard of the urbanites and the new trends of eating out and have quality time has boosted up the restaurant industry to $48 billion, according to a survey conducted by theNational Restaurant Association of India, reports Reeba Zachariah of The Times of India.
The urbanized styles of double earning members in a family, changing inclinations of life styles and most importantly the given importance to dine out are stimulating the food market now estimated to be worth $13 billion. However, the market is soon expected to mount up to $28 billion in coming five years.