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    Diageo India to invest Rs 75 crore to help revive ailing bars and restaurants

    Diageo India to invest Rs 75 crore to help revive ailing bars and restaurants

    Diageo India to invest Rs 75 crore to help revive ailing bars and restaurants
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    By Kritika Saxena   IST (Published)

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    Diageo India on Thursday announced that it will spend Rs 75 crore to support bars, pubs and restaurants, which serve alcohol to welcome customers, in the wake of COVID-19 pandemic.

    Diageo India on Thursday announced that it will spend Rs 75 crore to support bars, pubs and restaurants, which serve alcohol to welcome customers, in the wake of COVID-19 pandemic.
    The investment under ‘Raising the Bar’ programme, will be done in two years to support the revival and recovery of bars, pubs and restaurants serving alcohol across New Delhi, Mumbai, Bengaluru and other cities, the beverage alcohol company said in a statement.
    Speaking to CNBC TV18 about the move, Anand Kripalu, managing director and CEO of the company, said that the move will help struggling restaurant entrepreneurs and owners get back on their feet.
    "In the first phase of the COVID 19 pandemic, we were focussed on carrying forward the lockdown. But now the economic effect of COVID is very clear. The hospitality sector is critical to the economy and it has been badly hit. The restaurant industry, and I'm talking about the small and medium sized restaurants, owners that have just one standalone bar or restaurants; they contribute to 2% of the national GDP and have been badly hit.”
    “The national restaurant association of India which has 500,000 members says 30% of businesses may not survive after the pandemic is over. Diageo identified a critical need to support this sector directly. At Diageo India we are collecting Rs 75 crore to be invested over 2 years to support bars and restaurants that serve alcohol.”
    “We believe that people are now tired of the lockdown and are dying to go out. When they do go to bars, pubs or restaurants they will want to go to places that have adhered to safety and hygiene protocols. This is why we will be investing in and providing them products that will help them remain compliant," he added.
    Diageo said it designed Raising the Bar programme following a global survey of bar owners to identify key priorities to support reopening. Their top priorities included hygiene measures, digital support and practical equipment and training to transform how their outlets will work when they reopen, it added.
    The programme will provide targeted non-cash support including physical equipment needed for outlets to re-open like ‘hygiene kits’ with high-quality permanent sanitiser dispensers, medical grade hand sanitiser and a range of personal protection equipment (such as masks and gloves); to help bars, pubs and restaurants serving alcohol to establish partners.
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