While many international restaurant brands are already in India, a host of others are lining up to commence operations. But almost every CEO B&E met for this story lamented the over-policing by the government... We take a quantitative stock analysis! by Vareen Gadhoke Ray & Swati Sharma
Gaurav Jain
Director, RTC Restaurants
“Regulations Stifle us”
B&E: Fine dining experience is rapidly catching up, what according to you are the reasons?
GJ: The fine dining experience is becoming extremely popular in India, particularly in the larger cities. The main reasons being the increase in disposable incomes in urban India. Also people have started eating out a lot and are looking for newer/finer options. With an aspirational lifestyle today, Indians are well travelled and are getting exposed to new cuisines and culinary trends.
B&E: What is the core strategy behind fine dining restaurants?
GJ: The experience comprises of great contemporary venues, relaxing music, impeccable service & gourmet food. Restaurants offer these consumers a relaxing experience where they can unwind from their otherwise high pressured stressful lives.
B&E: How are organised players leveraging different SECs?
GJ: Different segments & concepts cater to different needs & markets. Eating out is directly related with affluence. While eating out may very well be a leisure activity amongst the lower SEC today, this is changing fast. People at all levels of society are looking at an experience; a good time; a change when they go out.
B&E: What factors are hampering growth of organised players?
GJ: Outdated regulations and laws governing the restaurant industry, unnecessary bureaucracy, no single window clearances, high taxes on liquor and lack of suitable real estate options.
For more articles, Click on IIPM Article.Gaurav Jain
Director, RTC Restaurants
“Regulations Stifle us”
B&E: Fine dining experience is rapidly catching up, what according to you are the reasons?
GJ: The fine dining experience is becoming extremely popular in India, particularly in the larger cities. The main reasons being the increase in disposable incomes in urban India. Also people have started eating out a lot and are looking for newer/finer options. With an aspirational lifestyle today, Indians are well travelled and are getting exposed to new cuisines and culinary trends.
B&E: What is the core strategy behind fine dining restaurants?
GJ: The experience comprises of great contemporary venues, relaxing music, impeccable service & gourmet food. Restaurants offer these consumers a relaxing experience where they can unwind from their otherwise high pressured stressful lives.
B&E: How are organised players leveraging different SECs?
GJ: Different segments & concepts cater to different needs & markets. Eating out is directly related with affluence. While eating out may very well be a leisure activity amongst the lower SEC today, this is changing fast. People at all levels of society are looking at an experience; a good time; a change when they go out.
B&E: What factors are hampering growth of organised players?
GJ: Outdated regulations and laws governing the restaurant industry, unnecessary bureaucracy, no single window clearances, high taxes on liquor and lack of suitable real estate options.
Vareen Gadhoke Ray & Swati Sharma
Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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