Domestic Food Retail Market Set To Cross Rs 61L Cr By 2020
The domestic food retail market is expected to witness a phenomenal growth and set to cross Rs 61 lakh crore by 2020 from the present Rs 25 lakh crore. The Indian retail food market has the potential to not only double but triple in the next 4-5 years, helped by the government's initiative to bring in systemic change, despite resistance, Minister for Statistics and Programme Implementation (Independent Charge) V K Singh said at the India Food Forum 2016. He said, the "Next 4-5 years are going to see a phenomenal growth that will make a difference to the economic health of the country. India will be a growth story of the world five years from now as the risks for the investors will be lesser than the gains."
India, UK To Open Trade, Markets To Support Growth
Amid fears of the global economy edging close to recession, India and UK have agreed to open up trade and markets to support growth, carry out structural reforms and address issues related to cross-border tax evasion, reports PTI. After talks between India's Finance Minister Arun Jaitley and UK Chancellor of the Exchequer George Osborne, the two nation's agreed to boost economic ties particularly in areas of infrastructure and financial services and renewed pledge for autonomical exchange of tax information from 2017. "From the Indian point of view, we were extremely interested in having the British investors look at infrastructure investments in India for which various possibilities were discussed," Jaitley said after the talks. India, he said, is "extremely keen that large British companies, particularly involved in infrastructure financing, start investing in Indian infrastructure". The two nations will work together for developing an India-UK partnership fund under the umbrella of National Investment and Infrastructure Fund (NIIF) recently created in India. "This fund will seek to increase flows of private sector capital and expertise alongside multilateral support into Indian infrastructure," a joint statement issued after talks said.
Mahindra Retail Brings Brand Carter’s To India
Mahindra Retail, a part of the USD 16.9 billion Mahindra Group, yesterday announced that it will be bringing Carter’s Inc., America’s leading brand of children’s clothing, gifts and accessories, to its chain of BabyOye stores across India. Mahindra plans to open 40 Store-in-Stores at BabyOye outlets in 15 cities across India and online at babyoye.com beginning this month. The brand will be present as a 250 sq. ft. Store-in-Store (SIS) format with Carter’s trademark fixtures to give Indian consumers a world class shopping experience. This will be the first time in India that Carter’s apparel will be available in store, allowing customers to experience the merchandise before purchase.