Nikhil Kamath flags India's restaurant gap: Is eating out the next ₹10 lakh crore boom?

Nikhil Kamath, co-founder of Zerodha, recently shared an observation from his visit to Singapore: the city’s residents hardly cook at home, and many don’t even have kitchens. Taking to X, Kamath questioned whether India could follow a similar trend—and if so, what it would mean for the restaurant industry.

“If India were to follow this trend, investing/opening restaurants would be a massive opportunity,” he wrote.

But he pointed out a stark difference—India lacks restaurant chains that operate at the scale of Southeast Asian brands. With rising disposable incomes and shifting consumption patterns, Kamath asked his restaurateur followers: *What one change could make India’s food industry thrive?*

Kamath backed his thoughts with data. He shared projections indicating that India's food service market, currently valued at ₹4-5 lakh crore, is expected to nearly double to ₹9-10 lakh crore by 2030. By then, Indians are expected to eat out 7-8 times a month, with one in five food orders coming from online delivery—an area poised for 2.8x growth. Yet, home-cooked meals continue to dominate Indian eating habits.

One of the slides also highlighted a critical issue—nutritional gaps. Over 80% of Indians fail to meet daily protein requirements. A comparison of dietary intake versus recommended levels showed a reliance on cereals, with deficits in milk, pulses, fruits, and vegetables. Urban India consumes more fats, but protein intake remains low across demographics.

At the same time, processed food consumption is rising. Edible oil intake has doubled in two decades, and spending on beverages and processed foods tripled between 2012 and 2023. The growing dependence on fast food also brings health risks—frequent consumption is linked to a 27% higher risk of Type-2 diabetes.

However, there’s a parallel trend toward mindful eating. Healthy snacking is gaining traction, with 70% of Indians snacking twice daily and 60% making calorie-conscious choices. The market for nutrient-dense snacks—led by brands like Yoga Bar and Slurrp Farm—is expected to grow to $6.4 billion by 2030.

Kamath’s insights paint a complex picture: India’s food service industry is on     the verge of transformation, but deep-rooted cultural habits, nutritional challenges, and evolving consumption trends will determine how it unfolds.