NEW DELHI, May 28 -- India's restaurant industry is staring at significant losses as localized lockdowns to contain the second wave of covid-19 have crippled business. Restaurant owners said they were operating at 25-30% of pre-covid levels on the back of home deliveries and takeaways, as dine-ins remain suspended.
India's '4.25 trillion restaurant industry employs seven million people, with dine-ins accounting for 75% of the organized industry's business, according to a Crisil Research report in 2020.
Restaurant owners said even when state governments allow dine-in to resume, the slump in consumer sentiment could delay recovery. To be sure, between December and March, things were looking up for restaurant owners with many of them reporti...