Financial Daily from THE HINDU group of publications
Friday, Oct 08, 2004
Financial Daily from THE HINDU group of publications Friday, Oct 08, 2004 |
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Marketing
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Retailing Industry & Economy - Consumer Electronics `India among top investment hubs in consumer sector' Our Bureau
New Delhi , Oct. 7 INDIA has been ranked among the top investment destinations in Asia for the retail and consumer sector and is expected to witness rapid growth aided by its IT capabilities, according to a PricewaterhouseCoopers (PwC) study. The study titled `From Beijing to Budapest: New Retail and Consumer Growth Patterns in Transitional Economies' said that China showed the most immediate opportunities in the retail and consumer segment, while India offered more long-term potential for investment in the sector. The study, released today, has recommended six countries — China, India, Turkey, Thailand, Malaysia and Hungary — as the top destinations for growth opportunities in the sector. It has also said that transitional economies across the globe offer both challenge and opportunity for retail and consumer investor. "Consumer goods companies have already established themselves with success in India and there is huge potential for future development as the country modernises," PwC's Leader for Retail and Consumer Products in India, Mr N.V. Sivakumar, said. India's outstanding capabilities in IT will ensure an extremely rapid and dynamic development in the modern retail space, he said. According to the study, while MNCs would continue to drive the modernisation of the sector, regional players would also emerge in all areas across the globe. It has said that the consolidation of local and foreign retailers' investments would toughen the competitiveness in the sector in future. "Partnerships between foreign retail and consumer goods companies with local firms will undoubtedly contribute to the improvement of lifestyles and higher levels of employment and consumption, when this becomes possible in the future," Mr Sivakumar said. The study has said that Turkey, Thailand, Malaysia and Hungary as investment havens offer general opportunities for development in the short or longer term, while niche opportunities exist in South Korea, Poland, Romania, Czech Republic, Singapore and Slovenia despite the fact that they are already saturated as far as the size of the market is concerned. The study also said that Russia and Indonesia should be viewed with caution and seen as long-term investment options.
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