East India Retail Summit begins in Kolkata in association with Ambuja Realty

Kolkata, Jan 8, 2010 (Calcutta Tube/IBNS) The ‘East India Retail Summit, 2011′, in association with Ambuja Realty, was inaugurated in Kolkata on Friday promising to expand the retail market in the eastern part of the country and bring in more opportunities in the sector.

[ReviewAZON asin=”B001PF74EE” display=”inlinepost”]”We need to bring in all national players to Kolkata, and this is surely one platform that can bring in more development,” Harshavardhan Neotia, Ambuja Realty Chairman, said.

“Let the platform provide more opportunities to speak and think and share ideas,” he added.

He also said that the perception about Eastern market in the retail sector has been changing comprehensively with time.

“There is a perception that people here are conservative. It is not true and even if there was, then the perception is changing,” Neotia said.

Bijou Kurien, Chairman,India Retail Forum and President CE-Lifestyle, Reliance Retail Limited said, ” In East most states are untapped as far as retail is conerned.”

“In terms of consumers and consumption, East is not different but in terms of availability East is still lagging behind,” he said.

Kurien observed that the growth of shopping malls in Kolkata would boost the retail sector to build up corporate business.

He also predicted that there would be a strong retail market, particularly in urban India in the next 20 years.

“Seventy per cent new employment will be in cities and the size of the middle class in urban India will increase to 65 per cent of the total population from the present 30 per cent,” Kurien said.

Speaking about the expansion of Reliance Retail Limited in Kolkata and West Bengal, he said, “it is the political philosophy that prevented us from expanding in West Bengal, but I feel people are getting used to it.”

“When political stability comes in people become willing for expansion,” he added.

Renowned retail houses like Moustache jeans, Shristi, Himalaya mega optical store, Forum Projects,Future Group, Baazar Retail Limited, are partners of this event.

Shrachi PGE Infrastructure Developers (P) LTD, Forum Projects,Future supply chains,Khadim India Limited and many more retailers have put up exhibition stalls.

The summit will continue till Jan 8.

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