Organized retail India is ~7% of the total retail industry. This includes food, beverages, clothing, personal care, electronics, food services, furn
iture, furnishings, health, sports goods, books, music and other typical departmental store items.
It seems like a growing retail story is having its share of hiccups in the form of :
iture, furnishings, health, sports goods, books, music and other typical departmental store items.
It seems like a growing retail story is having its share of hiccups in the form of :
- Finding. training and retaining talent
- Legal and bureaucratic hurdles
- Developing and leveraging the right know-how
- Using collaborations to scale up and for investment in back-end
How will overcoming these hurdles help :
- it will benefit the key stakeholders : producers, employees, consumers
- Producers : the farmers will receive higher margins than they do now, owing to many intermediaries between them and the consumer. A likely increase of 10-30% in their incomes
- Employees : by improving their economic, social and financial status.
- Consumers : who get to save ~5-10% on their monthly expenses through access to better deals, wider variety and better quality
The Indian retail story can have a happy end only through Global Integration and Financial Inclusion. Inclusion the true sense would be mean 'Economic inclusion' - through higher wages, 'social inclusion' - through acceptance in society - a nondiscriminatory attitude and 'financial inclusion'- through better access to financial channels It has always been believed that the growth in services sector (more specifically IT, BPO) is giving the country that much needed boost to help improve its GDP ; really ?
May not be. There is a mismatch in the demand and supply of labour. While most available labour is educated upto Class XI or below ; the need in the BPO / IT sector is for the XII+ educated individuals. So what 'demographic dividend' are we talking about.
If indeed we need to club this divide, it is the consistent growth in the retail sector that will help bridge this gap. This is the sector which looks for employees with less than XII class education. They are trained and even get high growth in their incomes and better social status.
So, why not lobby hard for the India Retail Story to lead the India Economic Growth Story and root for Inclusive Growth!
May not be. There is a mismatch in the demand and supply of labour. While most available labour is educated upto Class XI or below ; the need in the BPO / IT sector is for the XII+ educated individuals. So what 'demographic dividend' are we talking about.
If indeed we need to club this divide, it is the consistent growth in the retail sector that will help bridge this gap. This is the sector which looks for employees with less than XII class education. They are trained and even get high growth in their incomes and better social status.
So, why not lobby hard for the India Retail Story to lead the India Economic Growth Story and root for Inclusive Growth!
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