Delhi's Minister of Industry, Health and Power, Satyender Jain, while inaugurating the CII Delhi Retail Summit here, said there is a need for Delhi to have specialised shopping zones for different products to enhance the overall shopping experience in the city.
He further stated that the retail in Delhi has a lot of potential, which needs attention in terms of customer satisfaction.
Jain urged retailers in Delhi to be more competitive in terms of pricing, which will in turn increase sales for them. Retail sector in Delhi has potential to grow up to three times even though there is tough competition from the online segment.
He said Delhi has tremendous scope for growth in the area of health, education and retail sector.
In the coming years, he said the state government is planning for infrastructural development to provide competitive price on rental space compared to the neighboring States to promote retail sector in Delhi.
Ankur Bhatia, Past Chairman, CII Delhi State Council, and Executive Director, The Bird Group, said with increase in urban population and changing consumer behavior, Delhi has a lot to look forward in terms of retailing in Delhi.
He added that the Retail development in the city has largely been scattered with numerous small shopping zones mushrooming all across the city which need to be organized through single ownership for better management and experience. He also emphasized the need for organizing an annual Delhi Retail Festival.
Retailing as an industry in India has provided great advantages to the economy. Apart from providing good employment opportunities, retailing has also ensured that global brands reach the consumers.
He also said that retailing continues to be a good business model across the country and also stressed on the need for single ownership of malls for better management.
Retailing will play a major role in the success of manufacturing and growth of allied industries, said Anshuman Magazine, Past Chairman, CII Delhi State Council, and; Chairman and Managing Director, CBRE South Asia Pvt. Ltd.
Dr Alka Kaul, Chairperson, CII Delhi State Council and Director, Horizon Industrial Products Pvt. Ltd., said that riding on the back of a strong GDP and low unemployment rate, Delhi has a lot to achieve in the coming times and retailing will play a major role it.
With a huge customer base from various countries and backgrounds coming to Delhi it is undoubtedly a good destination for retailers to start and expand their business in the state.
The summit also saw various leading retailers and institutions coming together for a day.
