Tourism and Hospitality is one of the key industries in India, accounting for about 8.78% of its workforce and around 6.20% of its Gross Domestic Product (GDP). The industry and its thriving sub-sectors such as restaurants and organized tour operators are all major source of employment. During the period April 2000-March 2019, the hotel and tourism sector attracted around US$ 12.35 billion of FDI, according to the data released by Department for Promotion of Industry and Internal Trade (DPIIT).
India's food processing industry, which has grown annually at 8.4% during the last 5 years, ranks fifth in world of exports, production and consumption. The Value addition of the food processing sector as a share of GDP manufacturing was 9.8% in the last financial year. Investment in registered food processing sector had grown by 20.1%. The Indian food industry accounts for 32% of the country's total food market, one of the largest industries in India. It contributes around 14% of the manufacturing Gross Domestic Product (GDP), 13% of India's exports and six percent of total Industrial investment.
The Tourism and Hospitality industry is one of the largest service industries in India. Tourism is an integral pillar of the Make in India programme. Tourism plays a role of significant economic multiplier and becomes critical since India has to grow at rapid rates and create jobs. International hotel chains are increasing their presence in the country, as it will account for around 47% share in the Tourism & Hospitality sector of India by 2020 & 50% by 2022.
The net worth of Indian restaurant industry is estimated is around INR 75000 crore. While the unorganized sector, with 1.5 million food joints, is growing at an annual rate of 7%, the organized sector is growing at a rapid annual rate of 16%. Quick service segment is a winner in the dining out market with a growth rate of 21%.
Bangalore has been a proven landmark for the IT sector exporters of India and has, therefore, been named as Silicon Valley of India. Bangalore being the fastest growing metropolises and turning out as a major economic hub. Karnataka has been able to attract long term investments from multinationals. Bangalore has a moderate climate throughout the year which is very pleasing especially for frequent travelers. Along with Chennai and Hyderabad, Bangalore is also in the race of proving itself of being the Software hub of India. Presently, Bangalore is the third largest hospitality market with 8,536 rooms following Mumbai with 12,807 rooms and Delhi with 11,338 rooms. The HVS report Hotels in India – Trends and Opportunities, estimates that over the next five years, India's IT capital would see the addition of 10,731 rooms, the highest inventory roll out in the city. Being a cosmopolitan city, Bangalore is also expected to see a boom in catering industry. A large number of people in Bengaluru lack awareness about food based event or whom to approach in case of quality food.
By 2028, Tourism & Hospitality is forecasted to earn $ 50.9 bn as visitor exports compared to $ 27.3 bn earned in 2017
By 2028, direct contribution to employment is expected to grow to 5.3% of the total employment from the current contribution of 4.9% in 2017
By 2030, India is expected to be among the top five business travel market
The 12th Edition of 'India Foodex 2020' an International Exhibition on Food Products, Retailing, Processing & Packaging Machinery and Allied Industries during 18th - 20th Aug 2020 at BIEC, Bangalore, attracts participation from 30 countries, influences more than 35,000 trade visitors and also gets tremendous support from all the verticals of the food industry. On the overwhelming response from food and hospitality sector and to add more value to our existing expo, Media today group is glad to organize concurrently the 3rd edition of 'Hotel, Restaurant & Catering Expo' (HRC Expo 2020), an International exhibition on Hotel, Restaurant and Catering products, services, Bakery equipments and technology.
During our HRC Event, we will also be celebrating the 4th Edition of India Foodex Culinary Challenge 2020, wherein we invite the chef’s Fraternity to be a part of the event and add more value with their presence. The event was a Grand Success during its previous editions which has been witnessed by many celebrity chefs. This event also includes rewards and recognition ceremony for the apprentice and professionals.
Media Today Group welcomes all the delegates of the trade associations to HRC Expo 2020.