In India's cut-throat restaurant industry, fame and fortune rest on a knife's edge. Over the past two decades, the sector has seen an unprecedented boom - with the introduction of experiential restaurants, global cuisines and modern Indian food, and chefs seeking to establish credible ventures to serve consumers more open to culinary diversity than ever before. But behind all the glamour, there lies a cautionary tale: restaurants are a tough business in a market characterized by high costs, an unclear regulatory framework and fickle consumers who often prize discounts over quality. And while the last few years have seen private equity investment enter the space, there have been few notable exits, and returns on investment remain nebulous even as restaurants struggle with slim profit margins and high mortality rates.