Page 4 - Retail

DPIIT seeks views of ministries on draft national retail trade policy

The Department for Promotion of Industry and Internal Trade (DPIIT) has sought views of 16 departments and ministries on its draft national retail trade policy, which is aimed at overall development of all formats of the sector, an official said. After getting comments of all the departments and ministries, DPIIT would seek approval of the Union Cabinet on the policy, the official added. The policy would focus on formulating strategies to provide a globally competitive and sustainable environment for overall development of retail trade through targeted efforts. The objectives of the policy include ensuring easy and quick access to affordable credit, facilitating modernization and digitization of retail trade by promoting modern technology and superior infrastructural support; development of physical infrastructure across the distribution chain; promotion of skill development and to improve labour productivity, and providing an effective consultative and grievance redressal mechanism

Retail industry sees 19% rise in sales during Apr-Nov 2022: Report

India's retail industry saw a 19 per cent rise in sales over pre-pandemic levels during the April-November 2022 period riding on the back of strong performance of segments such as quick service restaurant and footwear, Retailers Association of India (RAI) said on Friday. Region wise, the eastern part clocked the highest growth at 21 per cent as compared to the same period in 2019, RAI said in a statement. North India followed with a 19 per cent growth while both western and southern parts witnessed an 18 per cent rise each, it added. "The industries that did particularly well during this period were the QSR (quick service restaurant) and the footwear industries, with a 30 per cent growth compared to 2019," RAI said. However, the beauty, wellness and personal care industry only saw a 7 per cent growth as against the same period in 2019, it added. "Consumers are back to shopping in stores, and it's something they enjoy even as they continue to buy online," RAI CEO Kumar Rajagopalan

Anonymity achieved in all retail CBDC wallet-to-wallet dealings done so far

Around 2,000 transactions recorded in first three days of pilot; aim now is to erase digital trails between wallets

e-Rupee: RBI creates Rs 1.71 crore of digital currency for retail pilot

Aims to involve 50,000 merchants, customers in the next few days

Brands warm up to made-in-China Singles' Day; malls see rise in footfall

Online players like Nykaa, Tata Cliq have also offered discounts on the back of Singles' Day Sale

Going forward, IOB will be posting very good results: MD & CEO Sengupta

'It has been in the range of 20-30 per cent in almost every quarter'

Retailers likely to see strong revenue performance in July-Sept quarter

According to Dolat Capital earnings preview report, retail will be the highest ranked on revenue and earnings growth from its coverage

E-commerce platform magicpin announces multiple leadership appointments

The new appointments are part of building the magicpin organisation as it prepares for its next phase of growth, and span product, marketing, technology and operations

Regulatory changes on Sebi plate: Here's a list of key discussion papers

Continuing with its consultative approach, the markets regulator, over the past one year has floated a number of discussion papers in areas such as IPO pricing, retail algo, and pricing of share sales

Despite 8% sales growth, Amazon Retail India saw Rs 794-crore loss in FY22

The numbers come amid preparations for Amazon's month-long flagship sale event The Great Indian Festival (TGIF), which starts on September 23

Dealers and automakers have a tumultuous relationship, says FADA President

Says manufacturers' financial clout has led to inequitable contracts between the two

Retail sales in shopping malls to grow 29% annually to reach $39 bn by FY28

Retail sales in shopping malls across top eight cities are expected to grow 29 per cent annually to reach USD 39 billion by 2027-28 fiscal on consumption growth and opening of new malls, according to a property consultant. Knight Frank on Tuesday released a report 'Think India, Think Retail 2022 - Reinventing Indian Shopping Malls' at a webinar. "The organised retail sales volume in the top 8 Indian cities is estimated to grow at a CAGR of 17 per cent from USD 52 billion in FY 2022 to USD 136 billion by FY 2028," the report said. In the same period, the consultant said that the potential retail sales in Indian malls are estimated to grow at a CAGR (Compound Annual Growth Rate) of 29 per cent in the FY2022-28 period reaching USD 39 billion by FY2028. Retail sales in malls across the top 8 cities -- Mumbai, National Capital Region (NCR), Bengaluru, Hyderabad, Chennai, Pune, Kolkata and Ahmedabad -- grew at a CAGR of about 3 per cent to reach USD 8 billion in FY2022. In FY2023, the

Newsmaker: Meet HDFC's Kaizad Bharucha, the highest earning banker of FY22

The Covid-19 pandemic turned out to be watershed years for the lender's wholesale lending business, growing this wholesale book much faster than retail

Delhi govt likely to open 500 liquor vends from September 1: Report

According to a report, the Delhi govt is likely to operate as many as 500 liquor vends from September 1. The move comes amid the absence of no private players in the retail sale of alcohol

Regulator allows insurance firms 'use & file' procedure for agri products

Companies can introduce a product in the market and then file with the Insurance Regulatory and Development Authority of India (Irdai) for approval

US Fashion brand Gap returns to India, signs deal with Reliance Retail

Reliance Retail will be the official retailer for Gap in India, mixing exclusive stores and digital commerce platforms.

Confident of delivering value on bid for Citi India deal: Axis Bank's Moghe

India's third-largest private lending is purchasing the retail business in a transaction worth Rs 12,235 crore

Udaan lays off about 180 employees in a move to drive cost-efficiency

The layoffs have happened at a time when Udaan is trying to turn into a publicly listed entity in 18-24 months

Amazon Retail India enters Gujarat, to source directly from farmers

The e-commerce major said the aim is to empower the farmers of Gujarat and offer high-quality fruits and vegetables to its customers

Retail businesses grow 24% in May against pre-pandemic level: Report

The retail businesses across India witnessed a growth of 24% in May this year against the pre-pandemic level of the same month in 2019, according to industry body RAI