India's retail business to touch $590 bn by 2011

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Bangalore, Feb 15: The Retail business in India is expected to touch 590 Billion dollar by 2011, Namadhari Fresh General Manager (Systems and Retail Outlet) B D Bhaskar Rao said today.

In his Theme Presentation at a one day Seminar on 'Retail Revolution for Agricultural Property', organised by Bangalore Chamber of Industry and Commerce (BCIC) here, he said that with the service sector gaining momento in the country following opening of the market the retail sector getting boost. "However, there is no reason for small and medium retailers to be afraid of entry of big business house into retail business as will not have any impact on them", he claimed.

He said though the retail leaders like Reliance, Spencer's and others spreading their footprint, it would take atleast five to 10 years to get settled due to various reasons and by that time the small and medium retailers could find many avenues to safeguard their business.

Even for big retailers there was many problems faced as consumers demand quality produces at affordable prices and availability at a short distance, he said.

Stating that maintainance of freshness of fruits and vegetables was the main challenge faced by big retailers who have entered the retail business, Mr Rao said that Namadhari had cold chain from field to consumer.

"Besides the big retailers facing acute talent shortage and space shortage and hence entry of big companies in retail business will not immediately affect the small and medium retails", he added.

Union Minister of State for Planning M V Rajasekharan, in his inaugural address, called for mechanism to safeguard the interests of small and medium retailers.

UNI

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