Entire sector may turn NPA, will need ventilator support: Retail body CEO

If the retail sector is supported with a package, it would have a positive ripple effect on the manufacturing sector and the supply chain, said RAI CEO Rajagopalan

As no economic package has been announced so far and restrictions for shops and retail stores still exist in most states across the country, Retailers Association of India's (RAI) CEO Kumar Rajagopalan feels that the condition of the retail sector is becoming untenable now and, will soon require "ventilator support".

Speaking to IANS, Rajagopalan said that in the absence of government support and further regulatory relief from the Reserve Bank of India (RBI) there will be a large number of non-performing assets (NPA) in the retail sector, which may go up to Rs 75,000 crore.

"If the banking sector and