We know that international business may conduct its operations with scraps of paper, but the ink it uses is human blood. We cover the whole retail sector in detail in this issue.Just over two years ago, India's largest private sector company, Reliance Industries , announced its grand entry into what remains one of the biggest, and largely unexplored mkts any where in the world - the $ 350 billion Indian retail mkt.South India base retail major subhiksha is busy denying media reports of its sell off plans even as rumours of smaller retail chains looking for buyers flying thick and fast. Its time for realty check for the Indian retail sector. Ril. retail with a target of 1000 stores by the end of 2007, has managed only 735 outlets till july this year. The company has booked a net loss of Rs. 10.99 crores last year on reported revenues that how ever 1% of its total sells which was Rs. 1. 39 trillion. Let's put things in perspective. Three yrs back , organised retail in India was expected to grow as fast as 38 % annualy. The global management consultency, A T kearney had announced India's arrival as the hottest retail destination. Yet, Indian organised retail is still for from the target of becoming a $ 60 billion industry by 2o11. Few people say that India is a poor country , each time I answered, no, India is rich because her people have this special quality. Our vision of India can't be one that is half california and half sub saharan africa. This clarity may be needy it poverty is to be eradicated and if globalization has to be adopted whole heartly. Even Wal Mart- the world's biggest retailer- hopes to open its first cash and carry store only by 2oo9, a full three yrs after announcing its collaboration with Bharti Retail.
DITTO FOR TESCO, UK's biggest retailer that is yet to help out TATA trent's operations through a cash and carry initiative. From north to south, From East to West , Every where a distinct culture evolved. The era of globalization triggered off a new wave of change in the Indian society. The present retail enviornment is very challenging. Add retail analysts Piyush Sinha, who is a part of marketing faculty at IIM AHD said, Just adding numbers or bringing in foreign players does'nt ensure success unless you have operational efficiency and that will come only with time. We know that in retail , process are continuously evolving in accordance to the customer's tastes and choice. clarity , vision and action must work in tandem if there is to be any substantial achieve in any field. Finally I would like to wish all my young friends , if they want to go in the retail sector they should be started to talk with developers, about a conversion to a revenue sharing model from now.