First edition of KRF unites retail stakeholders

Kolkata: The inaugural edition of Kolkata Retail Forum (KRF) on Thursday brought stakeholders of retail industry from the region together on a common platform.

State Information and Technology (IT) minister Bratya Basu graced the event with his presence and said retail business helps in boosting the economy and also makes direct interaction between buyers and sellers. "More retail business will grow in future," he said.

Kumar Rajagopalan, CEO, Retailers Association of India said they have urged the Bengal government to come up with a retail policy as Bengal has enough consumers in retail.

"The present Bengal government is focusing a lot on employment. Retail sector has a huge job potential. A 1,000 square feet store offers employment to nearly 10 people. We see a huge amount of consumption capability in Bengal, especially in Kolkata. Most retailers, who have offered good products and services in Kolkata, have seen their businesses raise double digits consistently over the last five years. We believe that this trend will continue and ensure that retail business increases. So, we feel it is essential for the stakeholders to come together and redevise their strategies. Kolkata Retail Forum is a step in that direction," he said.

According to Rajagopalan Maharashtra, Andhra Pradesh and Karnataka have already come up with a retail policy and Telangana will be declaring the policy by February next year.

"Modern retail is all about collaboration and KRF is an attempt towards collaborating with all the stakeholders in the region. Our mission is to connect, catalyse, collaborate and converse," he added.