Indian Restaurant Industry Set to Rebound Amid Strong Economic Fundamentals

Speciality Restaurants Ltd CMD Anjanmoy Chatterjee predicts a turnaround for the Indian restaurant industry, despite short-term challenges like high food inflation and reduced dining out. The company is focusing on profitable growth and expanding its footprint with brands such as Mainland China and Episode One.

The restaurant industry in India is poised for a significant turnaround, buoyed by the country's robust economic fundamentals. After grappling with high food inflation and a decline in dining out, Speciality Restaurants Ltd CMD Anjanmoy Chatterjee announced that the sector is set for recovery.

The company, known for its brands like Mainland China, Asia Kitchen, and Sweet Bengal, closed 29 outlets during the pandemic but is now focused on profitable growth and geographical expansion. 'India's dining market is more resilient than many others,' said Chatterjee.

According to him, the challenges of high food inflation and reduced post-pandemic dining are temporary and linked to broader economic factors like employment and disposable income levels. The firm aims to open three to four new restaurants this fiscal year following a successful previous year.

(With inputs from agencies.)