The booming, organised retail sector should have a link with the agriculture sector which would result in  mutual development and generate maximum employment, said Governor T N Chaturvedi on Thursday.

Speaking after releasing “The South India Retail and Realty Report: 2015 and beyond” during the valedictory of - The Shop - South India’s first retail event, Mr Chaturvedi said the organised retail should also think in terms of social responsibility and not just business profitability.

Business model
He stressed the need for evolving a business model that has a role for the smaller retail units in the unorganised sector.

Modern retail cannot remain cut off from the common man.
The survival of the small time village grocer and the neighbourhood thelawala in every by-lane of the country is just as important to India’s economy as the sales figures of large business houses and modern shopping centres, felt the Governor.

Upgrade, satisfy
With earning youngsters having  less of liabilities  and high disposable incomes, they seek best of the products and services and the retail market have to upgrade and satisfy this consumer base, the Governor pointed out.

Mr Chaturvedi said as the organised retail in the South has crossed 4.9 per cent of the retail marker as against the national percentage of 4.6, the retail invariably deserves a  special attention of policy makers in the South.
Earlier in the day, a “CEO Meet” discussed the success stories of South based retailers.

One of the key issues addressed at the session involved the process of going national from being a strong regional player and other issues.

HIGHLIGHTS
*Organised retail
value Rs 12,825 cr
*Growing at 45 per cent annually
*Employs 21.5 per cent of 50 million
engaged in retail
*Second highest
employer after
agriculture
*Social responsibility as important as business profitability
*Going national