The Hindu Business Line : New York's ICSC setting up shop in India

EVEN as the debate over allowing foreign direct investment (FDI) in the retail sector remains, here's another fillip to the industry. The International Council of Shopping Centres (ICSC), New York, is officially setting operations in India.

According to industry sources, the ICSC has formally set up a representative office in India on January 1. Mr Amitabh Taneja, Editor, Images magazine, has been appointed Director of ICSC's Indian operations. The India office will be in-charge of developing and hosting training programmes, conferences and seminars, the sources said.

The ICSC is a global trade association of the shopping centre industry. It includes 44,000 members from over 80 countries. The association includes shopping centre owners, developers, managers, marketing specialists, investors and retailers.

While organised shopping centres are at a nascent stage in India, projections about this industry are bullish. According to industry estimates, close to 250 modern-day shopping centres are currently in construction stage, while the blueprint for another 250 is on the horizon.

According to sources, the ICSC proposes to establish individual shopping centres as institutions by establishing codes of fair business ethics with retailers, consumers and the Government; promoting the use of research into the architecture and design of shopping centres; collecting and disseminating information among members for profitable operations and researching the economic, marketing and promotional conditions affecting the shopping centre industry.

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