Friday, November 25, 2011

Will it be Retail again...

      I remember the early 2000s when retail took out a hood in India out of the streets and many multi brand retail outlets opened up. the first ones were the Subiksha followed by Bigbazar,6 to10,Spencers,Vishal Megamart & many more.Following this the Biggies across the globe too landed here to bag their share of profit. Companies like Wallmart & carrefour landed in India but they were not able to find out a plan to work out as the govt dint allow FDI in multi brand retail.Even if they had the option to work with in the 51% single brand outlet which is not their core business they were finding a spot to pitch in India. But not loosing hope to get them allowed to have operating in India they had to settle in the single brand retail & to wait for the time when Govt allows it. And that is why my friend Mantu who got a job in Carrefour 3 yrs back was sticking to his basics and was mulling rhymes to open up retail outlets in India & we were laughing at him. But finally after yesterday's announcement he will have the last laugh. With many speculations the local traders across the country have started to oppose or observe band to protest the move. When my friends Boss is happy & posting in his tweeter account there are many who have started recalculating their plans for future. With the local traders & the local infrastructure unhappy with the move the govt is happy with the foreign treat. Lets wait to shop in wallmart & woo the street shop for not giving us credit....

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