Jhunjhunwala said that successful models of retail such as food & grocery sectors to footwear to lifestyle products have done exceedingly well on the Indian stock markets and given very high returns to the investor. These sectors offer great opportunity for both process and product innovation. These shall be critical to delivering profitable growth to the sectors, he said.
Inaugurating the CII National Retail Summit and CII National FMCG Summit, Naushad Forbes, Vice President, CII &Director, Forbes Marshall Private, said that retail and FMCG sectors form the direct path to the India growth story.
2014 will be a good year for retailing in India as income levels have increased for much of the Indian population. Availability of a wide range of brands from luxury goods to basic private label products gave consumers more options to choose from and also boosted awareness of particular brands and products.
Domestic brands and local companies remained dominant among the players operating in retailing in India during 2014. In spite of various relaxations made to the rules regarding foreign direct investment in India in, international companies remain cautious about India stated J Suresh, Chairman CII National Committee on Retail and Managing Director and CEO, Arvind Lifestyle Brands Ltd.
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