The Supermarket's Last Frontier; Indian Retail  

Oleh:

[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 401 no. 8762 (Dec. 2011), page 69-70.
Topik: Trade Liberalization; Regulation; Supermarkets; Foreign Investment; Retail Sales
Fulltext: The supermarket's last frontier.pdf (19.93KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.69 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Less than a tenth of India's $450 billion of annual retail sales take place in "organised" shops resembling those of the rich world. But that could soon change. On November 24th the coalition government, led by the Congress party, said that in cities of over 1m folk, foreign firms could now own 51% of "multi-brand" retailers, such as supermarkets (up from zero), and 100% of single-brand chains (up from 51%). Its motives are benign. Facing a wobbly rupee and high inflation, it wants to show it is still capable of bold action to boost business confidence. Liberalisation should lower food prices by cutting out middle men and waste. Perhaps a third of crops rot on roadsides and in warehouses before anyone has a chance to smother them in spices and wolf them with chapatis. Foreign supermarket chains, such as Walmart, Tesco and Carrefour, have raised half a cheer. They are keen to sell yogurt, vegetables and celebrity cookbooks to India's rising middle class. The shares of local retailers soared initially, on speculation they would be takeover targets for foreign firms, with some of which they already have small joint ventures in India. Less than a tenth of India's $450 billion of annual retail sales take place in "organised" shops resembling those of the rich world. But that could soon change. On November 24th the coalition government, led by the Congress party, said that in cities of over 1m folk, foreign firms could now own 51% of "multi-brand" retailers, such as supermarkets (up from zero), and 100% of single-brand chains (up from 51%). Its motives are benign. Facing a wobbly rupee and high inflation, it wants to show it is still capable of bold action to boost business confidence. Liberalisation should lower food prices by cutting out middle men and waste. Perhaps a third of crops rot on roadsides and in warehouses before anyone has a chance to smother them in spices and wolf them with chapatis. Foreign supermarket chains, such as Walmart, Tesco and Carrefour, have raised half a cheer. They are keen to sell yogurt, vegetables and celebrity cookbooks to India's rising middle class. The shares of local retailers soared initially, on speculation they would be takeover targets for foreign firms, with some of which they already have small joint ventures in India.

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