CAIT announces retail school to tackle competitors

In the backdrop of corporate retailers eying to capture and monopolise vast retail trade, CAIT seeks to promote the retail sector in India by providing modern business skills to traditional retailers, a CAIT press release said here today.

The project that would commence from New Delhi and Nagpur would soon spread to other states. It aims to cover not only the metros but also smaller cities across the country.

"The self organised trading community which was hiterto called an unorganised sector needs to be given adequate education to update the experienced retailers to transform their existing business into modern format of retailing", CAIT National President B C Bhartia said.

India has the highest density of retail outlet in the world; for every 1,000 persons there are 15 retail outlets. The overall retail market is estimated to be Rs 15 lakh crore.

About three per cent is organised. The size of retail trade is expected to exceed Rs 20 lakh by 2010.