‘Restaurant sector expected to turn around after tough

 

 

Q1’ THE restaurant industry is expected to turn around on the back of India’s overall strong fundamentals after facing temporary headwinds such as high food inflation and people dining out less that hurt the sector in the first quarter, according to Speciality Restaurants Ltd CMD Anjanmoy Chatterjee. The company, which has a slew of brands such as Mainland China, Asia Kitchen by Mainland China, Episode One, Haka, and Sweet Bengal, among others and shut 29 outlets during the pandemic, is now focussing on profitable growth while expanding its footprint.

 

“It should be clear that India not eating out or inflation not settling down is something which I don't believe in. India is better than many more countries,” Chatterjee told PTI. He was responding to a query on how long factors such as high food inflation and people dining out less after the diminishing of ‘revenge eating’ post pandemic that affected the restaurant industry, will continue to impact the sector. “It isashort-term phenomenon. It will settle down once the food inflation comes down,” he said, however, adding it would also depend on employment generation and the rise of disposable incomes. “I’m very sure this will turn around,” he asserted.