TiECon Delhi 2008: Opportunities abound in the Indian Retail Sector

Addressing a panel on retail sector, Mr Arvind Singhal, Chairman, Technopak Advisors said, Even if we discount our growth rates to 6-7%, we expect a very sizable growth in the Indian retail market in next five years. The question really is whether the business model of the retail company is correct.

Former civil servant turned entrepreneur Mr Jagdish Khattar said, Indian automobile retailing sector offer huge opportunity. While auto-companies have invested in their manufacturing facilities, a lot of scope exists in the auto services business. My company will hopefully fill some of the gaps. Former MD of Maruti Suzuki had announced his ambitious plans of creating Indias largest independent multi-brand auto sales and service venture. He has raised first round of funding of over Rs.100 Crores from investors including PremjiInvest and IFCI Ventures.

Food entrepreneur and Founder of Yo! China chain of restaurants, Mr Ashish Kapur said the opportunities existed in the retail sector since consumer lifestyles are changing and they have disposable income. Said Mr Kapur, Indian consumer is a very value conscious consumer. It is not low prices alone that matter to her, but the entire package. So if a business can offer great value at right prices, consumer will flock to them. In the food retail business, convenience and customer experience is key. Lamenting on the lack of eco-system in the feed retail business he said, Where are the suppliers of standardized vegetables and food items. Where are training institutes to train people in retail. These are all opportunities waiting to be grabbed.

Opportunities exist too in health care retail sector said Dr Arvind Lal, CMD, Lal Path labs. Said Dr Lal, We are seeing a big change in the consumer lifestyles and mindset. People are becoming more and more health conscious. We are seeing a boom in all aspects of health care: hospitals, laboratories, phama-retail chains etc. This will continue for some time.