Salil Panchal, AFP Mumbai,September 11, 2013 A year since India reduced foreign investment barriers to its retail sector to spur flagging economic growth, confusing rules and political uncertainty are keeping overseas supermarket giants away, analysts say. In September 2012, the government allowed foreign stores to set up 51-percent-owned joint ventures in India which they had eyed for years as a potentially lucrative market. So far, there has been no rush to open outlets, despite further easing of entry barriers in August. "There's no comprehensive consolidated government paper on Foreign Direct Investment (FDI) -- just updates and statements. It's not a…
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Rachit Vats, Financial Express New Delhi, September 8, 2013 Early this year, Gurgaon residents Abhishek Salwan, 33, and his wife decided to cut down on their weekly visits to the local hypermarket and started preparing a monthly grocery list instead for their local grocer. Salwan is not alone. An increasing number of people are turning to traditional kirana stores to tame rising budgets, in the process impacting the usually resilient fast moving consumer goods (FMCG) sector. A sector that remained defensive even during the dark days of 2008 is seeing a slowdown this year, especially in modern retail. As per…
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Priyanka Pani & Bindu Menon, The Hindu Businessline Mumbai/New Delhi, September 3, 2013 For retailers, there is nothing sweeter than the sound of cash registers ringing in a potentially exciting business season. There are so-called inauspicious times, such as aadi and karkidakam in South India, and the forthcoming ‘shraadh’ (September 19-October 4), chaturmas and pous in North India. These are periods when most people do not make any major purchases, like a house or a car. Even weddings do not take place during these periods. Given how consumption declines during this time, retailers try to excite consumers into opening their…
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Abhilasha Ojha, Business Standard New Delhi, August 26, 2013 It was supposed to be a fancy sea-facing mall boasting high-end brands and an unmatched shopping experience. It turned into a nightmare for the owner, Bhumiraj Group, when brands started pulling out of Full Stop Mall on Palm Beach Road, the Marine Drive of Navi Mumbai A similar fate awaited Gold City Mall in Navi Mumbai's premier Vashi area; it is now an office complex teeming with people who bear no resemblance to the inveterate mall hopper In Delhi, Star City Mall in Mayur Vihar had hoped to capitalise on the…
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