Wednesday, July 24, 2024
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NRAI Launches India Food Services Report 2024

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The National Restaurant Association of India (NRAI), the voice of the Indian restaurant industry, has launched its India Food Services Report 2024. The occasion was graced by notable industry figures including Kabir Suri, President of NRAI and Co-Founder & Director of Azure Hospitality; Sagar Daryani, Co-Founder of Wow! Momo Foods; Nitin SalujaFounder of Chaayos; Pranav RungtaDirector of Curry Me Up; Rahul Singh, Founder & CEO of The Beer Cafe; and Anand SharmaDirector of Customer Development at PepsiCo India.

The 5th edition of the NRAI India Food Services Report provides an in-depth analysis from industry stakeholders and consumer voices. The report offers valuable insights into operational models and practices, investment strategies, dining trends, and sustainability efforts.

According to the report, the Indian Foodservices Industry is estimated to be valued at Rs 5,69,487 crores as of FY24. It is projected to grow to Rs 7,76,511 crores by FY28, achieving a CAGR of 8.1% overall, with the organized segment expected to grow at a CAGR of 13.2%.

Commenting on the report, Kabir Suri said, “The primary objective of this report is to present these critical facts to both the Central and State Governments to enhance our economic contribution to India’s GDP and to serve as the most accurate and definitive source of information on the Foodservices sector. I extend my gratitude to all NRAI members for their contributions to this report.”

Sagar Daryani, Vice President of NRAI, added, “Our NRAI IFSR Report provides critical findings that serve as a definitive tool for effective strategies and planning. It facilitates better collaborative communication between business partners, investors, vendors, and supply chain providers. This report is essential for the Food Services Industry to gain the necessary support and recognition from the Government, ensuring consistent and sustained growth.”

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