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70 Mumbai hotels shut in 6 months

By Kalpana Pathak in Mumbai
December 15, 2008 12:16 IST
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As many as 70 restaurants in Mumbai have shut shop in the past six months, owing to spiralling costs, high taxes and a downturn in the economy.

"High charges and various other expenses have forced these restaurants to pull down their shutters,'' said S P Jain, president, Pride group of hotels.

India's commercial capital has been at the centre of a terrorist attack last month. Moreover, spiralling rentals, high input costs and a plethora of taxes levied by the local government has rendered restaurants and several businesses unviable.

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Kalpana Pathak in Mumbai
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