With India's exponential growth, experimentation with cuisines and concepts and frequency of eating out, the F&B sector is expanding at a rapid pace, which is expected to grow to USD 75 billion by 2021, with compound annual growth rate of 10%. Based on the report by consulting firm Grant Thornton India and lobby group Federation of Indian Chambers of Commerce and Industry (FICCI), urbanisation, changing lifestyle and evolving food preferences are further contributing to the growth of the organized sector. Quick Service Restaurants (QSR) and Casual Dine-in restaurants account for 74% of the total market, while Cafes make up 12%, growing at 10.7% a year, and Fine Dining, Pub Bars Clubs & Lounges (PBCL) comprise the rest. The restaurant industry alone will contribute 2.1% to the GDP of India by the year 2021. This year alone, the Indian restaurant sector will contribute a whopping INR 22,400 crores by way of taxes to the Indian economy.
Along with culinary innovation and contemporary presentation being the key focus, in the coming year, we will also witness chefs and restaurants going back to their roots, bringing out the traditional, lesser known dishes to the forefront and contemporising them for today's well-travelled, curious and adventurous diners, to deliver a stellar dining experience. The dining experience today starts with reading reviews, exploring menu options and reserving tables. Guests expect a frictionless experience that empowers them with all the relevant information, while understanding their preferences and convenience. To ensure a superlative dining experience, restaurant operators need to invest in front-of-house technologies that directly impact Customer Experience. When developing the concept for a restaurant, it is essential to understand the core bandwidth and network for smooth functioning of front-of-house as well as back-of-house operations, so as to deliver a richer customer experience," he further adds.
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