The Hindu Business Line : International retail meet to help forge partnerships

Organised by the Retailers Association of India (RAI), representing the organised retail segment that forms nine per cent of the total retail market valued at Rs 90,000 crore in the country, the meet is supported by the National Retail Federation (NRF), US, Euro Commerce, Europe, Austrade, Australia and China General Chamber of Commerce, China.

Disclosing this to Business Line here, the Chief Executive Officer, RAI, Mr Gibson G. Vedamani, said the meet will facilitate international retailers in different segments to showcase their world to India and the Indian retailers/ brands to speak for themselves and showcase the Indian retail market to the prospective retail entrants seeking to grow their business in the country and forge partnerships to mutual benefit.

Ms Tracy Mullin, President and CEO, NRF, and Mr Xavier Durien, Secretary-General, Euro Commerce, are attending. About 1,500 delegates and 4,000 visitors are expected, he said.

India has been ranked first for the second consecutive year as an attractive retail destination in the AT Kearney's Global Retail Development Index (GRDI 2006) from among 30 emerging markets. The growth in multivarious retail segments such as food, fashion, home, health etc has been at double-digits, higher than the GDP growth in the country. The growth in urbanisation, addition of population to consuming age group, forecast of an increase in upper income classes and relaxation of FDI policy in retail by the Government have all helped to position the country as a happening place to attract more interest from far and wide across the globe, he further said.

Mr Vedamani said RAI, with 45 founder members, has been engaged in preparing the workforce for the emerging market by associating itself with educational institutions..

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