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March 30, 2020

Covid-19: Indian restaurant body seeks three-month rent waiver

The National Restaurant Association of India (NRAI) has sought a minimum of three-month rent waiver from the landlords in the food and beverage (F&B) or restaurant industry.


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The National Restaurant Association of India (NRAI) has sought a minimum of three-month rent waiver from the landlords in the food and beverage (F&B) or restaurant industry.

The move comes at a time when the restaurant industry is struggling for survival as the Covid-19 outbreak forced the government to declare a nationwide lockdown.

In an open letter to the landlords, NRAI has urged them to pause the rent until June or until the lockdown continues.

It also said that the common area maintenance charge should be halved for six months after the lockdown ends.

Furthermore, the letter highlighted that the industry may take several months to regain its foothold after the lockdown ends.

NRAI president Anurag Katriar said: “This appeal is aimed at ensuring our mere survival during such extraordinarily troubled times.

“We are not trying to be profiteer at the expense of the landlords. As long-standing business partners of ours, we are hopeful that the landlords will extend their support in these times of unprecedented crisis.”

The letter comes a week after the association wrote to the Union Finance Ministry seeking a rescue package for the restaurant industry.

Based at Delhi, NRAI represents approximately half a million restaurants in the country.

Meanwhile, the number of Covid-19 cases in India has reached 1,000, while the death toll has increased to 31.

Free Whitepaper
img

What is the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry?

While wanting to protect the country from being overwhelmed by Omicron, China’s adherence to a Zero-COVID policy is resulting in a significant economic downturn. COVID outbreaks in Shanghai, Beijing and many other Chinese cities will impact 2022’s economic growth as consumers and businesses experience rolling lockdowns, leading to a slowdown in domestic and international supply chains. China’s Zero-COVID policy is having a demonstrable impact on consumer-facing industries. Access GlobalData’s new whitepaper, China in 2022: the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry, to examine the current situation in Shanghai and other cities in China, to better understand the worst-affected industry sectors, foodservice in particular, and to explore potential growth opportunities as China recovers. The white paper covers:
  • Which multinational companies have been affected?
  • What is the effect of lockdowns on foodservice?
  • What is the effect of lockdowns on Chinese ports?
  • Spotlight on Shanghai: what is the situation there?
  • How have Chinese consumers reacted?
  • How might the Chinese government react?
  • What are the potential growth opportunities?
by GlobalData
Enter your details here to receive your free Whitepaper.

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