Elevating Nepal’s Foodservice Industry: Inside the Padma Jyoti–Rich’s Alliance

Saurabh Jyoti, Chairperson, Padma Jyoti Group & Sanjay Coutinho,Organised Trade General Manager, Rich’s India

The primary gap we are addressing in Nepal’s culinary and food service industry is the limited access to global-standard products, technical expertise and hands-on training for chefs, bakers and food operators.

– Saurabh Jyoti

Nepal’s culinary and foodservice landscape is undergoing rapid transformation as urban consumers embrace dining out and returning students seek the international brands they experienced abroad. At the forefront of this shift, Padma Jyoti Group has entered into a strategic partnership with Rich’s, a global leader in food innovation. The alliance combines over seven decades of local expertise with world-class product standards to drive the evolution of Nepal’s HoReCa (Hotel, Restaurant and Catering) sector.

Moving beyond a traditional import model, the collaboration aims to introduce local manufacturing capabilities and specialised culinary solutions tailored to Nepal’s growing foodservice industry. By addressing critical market gaps, the partnership will provide chefs, bakers and food operators with access to globally benchmarked products alongside hands-on technical training.

A key pillar of the initiative is the development of a world-class experience centre, designed to empower professionals to adopt international trends, innovate their menus and enhance customer experiences. Anchored in customer-centricity and R&D-driven innovation, both organisations are committed to elevating standards across Nepal’s culinary ecosystem.

Looking ahead, the alliance envisions positioning Nepal as a hub for world-class hospitality by nurturing the next generation of entrepreneurs. By combining Rich’s global reach and product excellence with Padma Jyoti Group’s robust distribution network, the partners aim to achieve market leadership within the next five years.

In this exclusive conversation with Business 360, Saurabh Jyoti, Chairperson of Padma Jyoti Group, and Sanjay Coutinho, Organised Trade General Manager at Rich’s India, share insights into the vision and strategy behind this landmark collaboration.

Rationale Behind the Partnership

Saurabh Jyoti: Padma Jyoti Group is a first-generation family business with a legacy spanning over seven decades. While we began in manufacturing - steel, cement and construction - we have diversified into services, banking, hospitality and hydropower. Over the past decade, our strategic focus has shifted toward FMCG and food.

As Nepal transitions from a least-developed economy and GDP growth accelerates - driven by remittances and tourism - the food sector presents significant opportunities. The rise of bakeries, cafés and aspiring global Nepali brands reflects this momentum.

Recognising this potential, we partnered with Rich’s, a globally respected, family-owned enterprise with nearly $6 billion in annual revenue. Their commitment to innovation and quality aligns with our ambition to scale the food ecosystem in Nepal.

Sanjay Coutinho: Our interest in Nepal grew from observing its evolving consumer landscape. Returning students and diaspora communities are driving demand for international experiences and brands.

What stood out about Padma Jyoti Group is its strong family-driven ethos similar to Rich’s combined with a balance of legacy experience and next-generation leadership. This makes them an ideal partner to unlock Nepal’s full market potential.

Serving the HoReCa Industry

In any evolving market, the growth of the HoReCa industry, currently expanding by approximately 20% to 25%, is truly significant. It presents a compelling reason to participate in that growth or, better yet, to help define the industry itself.

- Sanjay Coutinho
 

Sanjay Coutinho: The HoReCa sector in Nepal is expanding at an estimated 20–25% annually, making it a highly attractive growth space. While often understated, its potential is immense.

Rich’s is frequently perceived as a bakery brand, but we are a comprehensive food, beverage and confectionery solutions provider. Our offerings cater to everyone, from small vendors to premium hospitality establishments, supported by strong R&D and innovation capabilities.

We go beyond products. Our on-ground culinary team works directly with clients to co-create menus, train staff and introduce global concepts. This solution-oriented approach is what differentiates us.

Saurabh Jyoti: Our shared philosophy centres on delivering complete solutions rather than just products. Through nationwide distribution and continuous engagement, we aim to educate and empower customers from professional kitchens to home bakers.

The planned experience centre will play a pivotal role in training and upskilling users, enabling them to fully leverage global-standard ingredients and techniques.
Nepal’s Strategic Importance

Sanjay Coutinho: Nepal has been part of our footprint for over two decades, making it a critical market. With our global ambition to reach $10 billion by 2030, Nepal represents a key growth opportunity.

Our approach is deeply customer-focused - we prioritise solving operational challenges, enhancing menus, and even supporting business aspects such as packaging, kitchen design and profitability.

Bridging Industry Gaps

Saurabh Jyoti: The key challenge in Nepal’s foodservice industry lies in limited access to global-quality products, technical expertise and structured training.

Through this partnership, we aim to bridge these gaps by delivering innovation, consistency and practical knowledge directly to industry stakeholders. This will enable professionals to elevate both creativity and customer experience.

Message to Entrepreneurs and the Market

Sanjay Coutinho: With sustained annual growth of 20–25%, the sector is on track to more than double within a few years. This signals enormous untapped potential and positions Nepal at the cusp of a HoReCa revolution.

Saurabh Jyoti: Nepal’s entrepreneurial and creative talent is exceptional. By combining global expertise with local ambition, we can collectively raise industry standards and position Nepal as a leading hospitality destination.

Regional Synergies with India

Saurabh Jyoti: India remains Nepal’s natural economic partner due to strong cultural, geographic and trade ties. The open border and logistical advantages make Indian products highly competitive, while bilateral trade continues to strengthen economic integration.

Looking Ahead: The Five-Year Vision

Saurabh Jyoti: Our initial focus is on importing high-quality products, particularly from India. However, we are actively exploring local manufacturing through raw material sourcing, moving toward a value-added production model.

Sanjay Coutinho: Within five years, we aim to establish this partnership as a market leader driving innovation, supporting industry stakeholders and shaping Nepal’s culinary future.

Final Thoughts

Both agree that Nepal is entering a high-growth phase, driven by returning talent, tourism and evolving consumer preferences.
With the right blend of global expertise and local entrepreneurship, this partnership is poised not just to participate in Nepal’s foodservice evolution but to help define it.