Franchise And Retail Sector Of India A New Breaking Dawn
While the organized retail trade is making giant leaps every year with the backing
of global chains and corporate conglomerates, the unorganized retail sector, consisting of the small time shops run by professionals who do not come under the sales and income tax limits, provides employment to millions of people in the country. Research reports have said that about 40 million Indians are employed in the retail sector of the country which accounts for about 3.3% of the Indian population.
There are different kinds of industries that come under the retail sector of India. While food and grocery sector mostly falls under the unorganized sector, other industries like apparels and consumer durable industries have a greater participation from corporate and retail chains. Exhibitions and trade shows like Franchise & Retail Opportunities Show-Mumbai add to the consumer oriented factor by attracting foreign investors and dealers who explore the high profile markets in India through the exhibition. Events like Franchise & Retail Opportunities Show Mumbai have also been successful in conducting networking sessions between the exhibitors and the visitors so that there is a mutual interaction of knowledge based themes on the recent trends and developments in the sector.
Another sector that has a lot of potential in the Indian markets is the gem and jewelry industry. It is no big secret that Indians are the largest consumers of gold in the world. With hundreds of retail chains opening up in every corner of the country every year, the potential of the market is only expected to go up by several times. A drawback that needs to be discussed in this context is the lack of proper infrastructure and logistics facilities that amounts to a lot of losses for the retail and franchise sector. Even though there are large and sprawling malls coming up in urban metropolises, the lack of proper logistics services is leading to the spoiling of articles like food and apparel. This is a major predicament to which the ruling government must find a solution.
Today, there are a large number of retail chains that are thinking of expansion plans and setting up their roots in foreign countries. The amendments that have been brought forward by successive governments at the centre have also played a crucial role in the development and progress of the sector. Exhibitions like FRO have always presented a pool of valuable resources in order to aid the investors in getting ample exposure and visibility for their products and services. With greater emphasis being given to farmers and consumers, it is believed that the retail and franchise sector would go on to achieve astounding results in the years that are to come.