Private consumption up

Researchers aver that private consumption continues to grow at double digit - Rs18 trillion projected for 2010 and that modern retail is expected to further spur consumption and catalyse speedier economic growth while technology brings in efficiencies in every sphere of retail and distribution.

Addressing the session in Indian retail forum (IRF 09) Shoppers Stop Ltd vice chairman and IRF’09 chairman, B S Nagesh said “IRF has become the annual convergence point for the best retail minds in the country. Though the last three years saw steep rises and falls, the road ahead holds a ‘Big’ promise for the challengers.” In the course of his speech, he elucidated how there have been heavy investments in technology, infrastructure, supply chain, logistics and the likes to support retail. Also, the good news he shared was, the Indian consumers are continuing to purchase at a higher rate than any other country in the world.

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