Economy

Pantaloon chief welcomes move on retail FDI

Our Bureau Mumbai | Updated on July 22, 2011 Published on July 22, 2011




Mr Kishore Biyani, Managing Director, Pantaloon Retail (India) Ltd, said, “Opening up of FDI in multi-brand retail, among others, will help in attracting investments in crucial areas such supply chain management, setting up manufacturing facilities, introducing new brands and value added products, and creating more jobs.”

Mr Biyani emphasised that multi-brand retail formats do not compete with neighbourhood kirana stores as the latter have the capacity for only 300-400 stock keeping units (SKUs) whereas the former have capacity for 60,000 to 70,000 SKUs.

The Indian market, according to the promoter of a retail chains such as Big Bazaar and Pantaloons, is big enough for everybody – the small kirana as well as the big multi-brand retail chains – to thrive.

Published on July 22, 2011
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