Friday, August 17, 2018
News

Retail sector looking for Industry status: Walmart India CEO

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New Delhi | Wednesday, May 16 2018 IST
India's retail sector is vital for the economy and employment generation and it is time to elevate the position of the sector to an "industry", says Krish Iyer, President and CEO, Walmart India, while speaking at the CII Retail Conclave held at the India Habitat Centre here on Wednesday.

He applauded the government for the measures taken in the last four years, which he emphasised has made it a "pleasure building back the business" in the country.

Mr Iyer said through structural reforms like GST, IBC and public spending on infrastructure had made India an attractive destination.

"With the implementation of GST, India has become a borderless nation" Mr Iyer added

Regarding the potential the sector holds, Mr Iyer says India needs to create a million jobs every month for the next three years to ensure that all of its young members are fully employed and retail has the ability to create that job growth.

Mr Iyer also dwelt on the need for Retailers, builders, developers to focus on green growth and look for environment-friendly set ups.

Atul Chaturvedi, Additional Secretary, Department of Industrial Policy & Promotion, Ministry of Commerce & Industry, underlined the employment generation potential of retail sector which can generate upto 56 million jobs by 2020 and contributes around 10 per cent to the GDP.

He shared how DIPP has been involved in implementing reforms that will bring growth and there is a positive shift in how the government is now looking at the foreign retailers. A more liberalized approach is now being followed in infusing growth in sector.

A CII-JLL report titled "India Retail: Stepping up the Game" was also released at the conclave. The report analyses the growth of the retail sector in the country and how the industry has innovated to meet the various challenges.

Adesh Gupta, Past Chairman, CII Northern Region and CEO, Liberty Shoes Ltd, acknowledged the government on behalf of the retail industry for implementing GST which has made India a borderless country and has enhanced the ease of doing business.

Rajesh Arora, Chairman & CEO, The Arora Group, delivered the vote of thanks and stressed on how the retail sector is contributing to the economy. UNI XC-BM

-- (UNI) -- C-1-1-DL0214-1366576.Xml

Loading...
 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
TRENDING TOPICS
 
 
 
CITY NEWS
MORE CITIES
INDIA WORLD ASIA
'Avengers: Infinity War' villains to get...
Vajpayee was a true friend to our countr...
Vajpayee ji always stood for democratic ...
Kerala floods: Death toll rises to 94...
India has lost her 'Atal Ratna': PM Modi...
Andhra CM directs CRDA officials to beau...
More...    
 
 Top Stories
N Korea urges S Korea to not succum... 
After leaving nuke deal, US forms I... 
Dolly Parton urges kids to read mor... 
Children deported from Mexico and U... 
Vajpayee lived for the country: Ram... 
'Amit Shah turned off my mic': Rahu... 
Delhi Police issues traffic advisor... 
Special envoys of neighbouring coun...