OCTOBER 20248RISING FAST-FOOD OUTLETS A BOON FOR COMMERCIAL CATERING EQUIPMENT MAKERSINDIA & GERMANY TO EXPAND TIES IN CLEAN ENERGY & MOBILITY SECTORSThe commercial catering equipment market has experienced significant growth in recent years, expanding from $11.37 billion in 2023 to $12.03 billion in 2024. This growth can be attributed to a variety of factors, including rising disposable incomes, the expansion of the global hospitality and tourism sector, and increased urban India and Germany have agreed to enhance collaboration in the fields of renewable energy, urban development, agroecology, and mobility. According to German officials, strategies to increase involvement in these critical areas were a major focus during the migration, which has fueled demand for food services. As a result, there has been a greater need for commercial catering equipment in restaurants, cafes, quick-service outlets, and other food service establishments.Commercial catering equipment encompasses specialized tools, appliances, and machines used in professional kitchens to efficiently prepare, cook, store, and serve food on a large scale. These include categories such as food handling equipment, refrigeration units, and food preparation machinery. The increasing number of restaurants is expected to continue driving growth in the commercial catering equipment market. Restaurants that provide prepared meals and beverages in exchange for payment have seen an increase in demand due to changing consumer preferences, growing interest in dining out and evolving lifestyles. To meet operational needs, restaurants rely heavily on commercial catering equipment to maintain quality standards, ensure safety, and manage operational costs effectively. For instance, according to the National Restaurant Association, the number of restaurant establishments in the U.S. grew to 749,404 in 2023, a notable increase from previous years. This rise in the number of dining establishments underscores the growing demand for commercial catering equipment. development policy talks led by India's Department for Economic Affairs and Germany's Federal Ministry for Economic Cooperation and Development on Saturday.Both parties have agreed to maintain their partnership in the fields of renewable energy, urban development, mobility, and agroecology for the upcoming years, as stated by them.The Indo-German cooperation is strategically guided by the "Partnership for Green and Sustainable Development", which was established in 2022 following talks between Prime Minister Narendra Modi and Scholz. The German chancellor is scheduled to visit India next month."Germany and India share a long-standing, trusting and strategic partnership," said Barbara Schafer, the head of the German delegation at the talks. "This has been further demonstrated in 2024 by both sides. With the launch of the 'India-Germany Platform for Investments in Renewable Energy Worldwide'," she said.The latest project was introduced on September 16 at the fourth RE-Invest event held in Gandhinagar, Gujarat."With our commitments this year, Germany has made it clear that it reliably fulfils its international obligations," Schafer explained. TOP STORIES
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