India's organised restaurant industry to see revenues plunge 40-50 percent in FY21: CRISIL
Due to the COVID-19 pandemic, hotels and restaurants in India have been among the most affected even if the nationwide lockdown enforced to curb the virus from spreading. With only essential services being allowed in most cities during the lockdown, restaurants had to suspend operations. In several cities, shopping centres, which house many organised restaurants, had downed shutters even before the lockdown began on March 25. It is now being estimated that the crisis and the social distancing norms that will be in place even when the lockdown lifts, will shave off the revenues of the organised restaurant industry by almost half this year. The troubles in the restaurant industry will also have an impact on their suppliers, dairy producers, farmers and logistics companies.