gst impact on food services

Restaurant industry The Indian Restaurant industry today, is worth a staggering INR 247,680 crores and is developing at a yearly rate of 11% – estimated to hit INR 408,040 crores by 2018. As per the National Restaurant Association of India’s 2013 India Food Service Report, the segment comprises of 1.5 million eating outlets, employing 4.6 million people, which again, is projected to rise to 8 million by 2018. This growth has been fuelled by a combination of factors: the growth of the great Indian middle class, rapid urbanization, growing awareness of western lifestyles, more women joining the workforce and higher disposable income, to name a few. Not to forget the organised food services industry – comprising the KFCs, Dominoes and […]