Looking at today’s diverse and splurging retail landscape in the country, it is expected to be one of the major growth drivers for the warehousing as well as manufacturing industries and social media is playing a big role in this growth, said a government official recently.
Speaking at the Indian Retail and eRetail Congress 2016 organised by Franchise India, Atul Chaturvedi, Joint Secretary, Department of Industrial Policy and Promotion (DIPP) said that there is a huge growth in the Indian retail and e-retail sector. The retail industry will prove to be a huge growth driver for the warehousing as well as manufacturing scenario. It is good news as it will help create huge job opportunities for the youth, he added.
“There is a big role that the social media is playing today where retailers as well as consumers are expressing themselves," he added.
The fifth edition of the Indian Retail & eRetail Congress witnessed an assemblage of some of country’s leading retail and e-retail players including names such as Krish Iyer (Walmart India), RS Sodhi (Amul), Prashant Gupta (abof.com), Nissan Joseph (Crocs) amongst others.
Setting the tone for the two-days of retail gala, Ritu Marya, Editor-in-Chief, Franchise India said, “Today, customers are changing and because of new technologies, companies are getting better ideas and ways to serve and reach them. They do not care whether their experience is online or offline. It is the product that matters to them.”
During the inaugural session retail baron, Krish Iyer, President and Chief Executive, Walmart India, said “The entire growth strategy will depend on manufacturing in India and that's where the 'Make in India' initiative by the Indian government will come into play.”
Manufacturing's contribution to 25 per cent of the gross domestic product will help us grow and in the process create jobs for one million youth of India, he added.
“The recent policy announcement by the government for the e-commerce marketplace was much required as this helps create a level playing field. Another announcement was the 100 percent foreign direct investment in food marketing which will open the market further,” Iyer concluded.