Indian Food Industry to Touch Rs 408,040 Crore By 2018

By siliconindia | Wednesday, 15 May 2013, 10:41 Hrs

Mumbai: The current size of the Indian food industry stands at 247,680 crore per annum and is expected to grow at 11 percent to touch a staggering 408,040 crore by 2018, an official said.

In terms of market segments, the Quick Service Restaurants and casual dine-in formats account for nearly three-fourths of the total chain and cafes make up 12 percent, with fine dining outlets, pubs, bars, clubs and lounges comprising the rest.

This is the key highlight of the "India Food Service Report-2013" of the National Restaurant Association of India, which was released by Maharashtra Tourism Minister Chhagan Bhujbal.

The report states that the chain and licensed stand-alone industry would contribute around 11,500-11,900 crore in 2013, which will more than double to 25,000 crore by 2018.

This would provide the government an opportunity to generate an additional collection of 17,000-26,000 crore through closer monitoring of tax collection from the unorganised sector, said NRAI Mumbai chapter head Amit Jatia.