Retail should be recognized as an industry, says industry body CMAI

livemint.com:

Mint on the sidelines of the Bharat Tex event in New Delhi. Mehta said Indian retailers also raised concerns around ease of doing business for foreign retailers. “The other issue, of course, was the various FDI regulations and ease of doing business.

Some (single brand) retailers that have multiple brands need to take licences for individuals and set up several entities. So, if only there could be some change in the FDI single brand policy," he said. CMAI will also submit a white paper to the government, summarizing the obstacles faced by the industry, besides making recommendations on facilitating ease of doing business for retailers.

In 2022, India’s retail market was estimated at $930 billion, according to consulting firm Deloitte in its 2023 report. The market is expected to touch $1,930 billion by 2030, it added. The association is also pitching for a retail upgradation fund to help small brands grow in across small towns and cities.

“We are thinking of a fund that will help brands drive growth in smaller markets; it’s at an ideation stage. Every brand seems to have agreed that large cities are now saturated and growth is going to come from smaller markets. Most brands do not have the financial resources to fund their expansion in smaller markets.