‘Foreign retailers no threat'
Govt says the local retailers have existed in harmony with the big retail chains.December 20, 2012 | comments ( 0 ) |
The Parliament on Wednesday was reported about the loss incurred by three major retailers of the country – Reliance Fresh, Bharti Retail and Aditya Birla Retail. Their individual losses were:
Reliance Fresh – Rs 345.82 crore during 2010-11
Aditya Birla Retail – Rs 423.1 crore during 2010-11
Bharti Retail – Rs 394.32 crore in the year 2011.
Minister of State for Commerce & Industry S Jagathrakshakan has stressed that the local retailers have existed in harmony with the large format retail chains and will not be affected by the advent of foreign retail players.
- Reliance Retail & Jio to jointly launch new e-commerce platform
- CCI gives nod to Samara Capital-Amazon's joint bid to buy More
- SoftBank eyes 40% stake in FirstCry for $400 million
- Vivo India launches 'Vivo Xchange' program in partnership with Cashify.in
- Milkbasket expands operations to Bengaluru
- Manyavar launches another store in Punjab
- Ola raises Rs 150 crore from Flipkart's Co-Founder Sachin Bansal
- Ananth Narayanan steps down as Myntra Jabong CEO
- DailyNinja celebrates 15 million orders fulfilled
- John Jacobs looks to garner Rs 500 crore revenue by March 2021