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Naidu unveils State retail policy
he State government unveiled Andhra Pradesh Retail Trade Policy-2016, the first in the country, on the second day of Partnership summit here on Monday.
- Says it will attract $55 billion in the organised retail sector by 2020 and create employment for 20,000 people
- Hints at making AP a hub for retail and logistics infrastructure with warehouses and distribution outlets
- AP inks MOUs with four retail giants like Future group, Walmart India, Spencer's Retail and Arvind Lifestyle to the tune of Rs 1,500 crore
Visakhapatnam: The State government unveiled Andhra Pradesh Retail Trade Policy-2016, the first in the country, on the second day of Partnership summit here on Monday.
Announcing this, the Chief Minister N Chandrababu Naidu said the new policy would bring in an investment of $55 billion in the organised retail sector by 2020 and create an additional employment for 20,000 people. The other aim is to leverage retail trade for socio-economic development of the State.
He said the idea was to make Andhra Pradesh a hub for retail and logistics infrastructure by setting up warehouses and distribution centres. The State government signed a Memorandum of Understanding with four retail majors including Future group, Walmart India, Spencer's Retail and Arvind Lifestyle amounting to Rs 1,500 crore of investments.
Naidu said Wal-Mart had faced some initial problems in the State, but they had been sorted out. He called for innovative ways of retailing and suggested that the companies make use of the self-help groups of women in the State to sell their products in the rural areas.
Organised retailing would have to make forays into rural India, he said and added that being a leading State in agriculture, horticulture, dairy and poultry sectors, the State has been looking at e-marketing to eliminate mediator’s involvement aimed at improving linkage between farmers, food processors and retailers.
The CM said AP contributes about 8 percent of India's total retail market with 83,000 retail stores in the State and expects 16,600 retail stores to open by 2017.
Future group head Kishore Biyani, who is present at the event said his group is planning to set up new large format stores in seven cities in next 6-8 months, but declined to give further details.
Earlier, during a discussion, CEO of Retailers Association of India Kumar Rajagopalan said the Indian retail market has been biggest in terms of employment next only to agriculture employing more than 4 crore people.
Kishore Biyani, CEO of Future Group, said the retail business growth has been impressive with 15 per cent and there were further signs of rapid growth indicating a vibrant economy in the country. Wal-Mart India chief executive officer Krish Iyer said
AP shown remarkable growth in the last 18 months and his group would be aiming at improving marginal and small farmers, training and education of the youth and promoting women in the business.
Krish Iyer also allayed fears that Wal-Mart would eliminate the traditional kirana shops and small time traders. Neel Raheja of Raheja Corporation, CEO of food and grocery sector of Birla group and Alok of Arvind group participated.
