RLS 2014 commenced with the inaugural
speech delivered by Mr BS Nagesh, Chairman,
Retailers Association of India (RAI).
Aligning with the core theme of the summit
“Retailing in Emerging Markets”, the speech
was focused on the evolution that the Indian
retail market witnessed in the last 10 years.
business expansion. Some retailers have used
the slowdown of 2010-2013 to rectify the
mistakes. More importantly, there are now
thousands of companies and sub-segments of
industry who have joined the retail
“Entrepreneurs in retail
should build businesses
because they see value,
not valuation” – B S
Nagesh, Chairman RAI,
bandwagon,” said Nagesh.
“Amongst the top 5 companies in every
country, there is at least 1 retail company. The
time will come when an Indian retailer too will
feature amongst the top 10 retail companies in
the world.” He added.
The politics of Retail
Retail is Value
“The last 10 years has seen positive and
negative changes. There has been growth and
in some cases, it has tipped into aggressive
“Whichever government comes to power, retail
will benefit. If, after elections in May 2014, the
government moves for FDI –5% of retail which
is organized retail will benefit. In the Long
term, the 95% of retail which is not part of
Modern Retail will still benefit. And if, after May
2014, the government chooses to defer FDI, the
sector will still grow”, he noted.
The next 5 years are likely to be golden years in
terms of consumption he said. RAI believes that
from the learning of last 10 years, the next 5
years are golden years in terms of growth and
Do not build a business for FDI
“Entrepreneurs in retail should build businesses
because of the market opportunity, not because
of valuation” he said. It’s important that the
people who build businesses focus on value,
What will change
There are few major changes that we expect.
One is the presence of online....
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