Executive Access Interviews CEO Of DLF Brands Ltd.
Executive Access interviewed Dipak Agarwal, CEO of DLF Brands Ltd., on the opportunities and challenges facing the India’s retail and luxury industry.
How is the luxury retail industry faring in India?
Agarwal: In India, modern retail has more or less followed the same evolutionary trends which the developed countries followed a few decades back, except for the fact that the hurdles we face here are slightly higher. There is a tradeoff between real estate and the growth of the retail space in any industry in a developing economy and to that extent the Indian retail industry has suffered. The growth has although slowly, picked up now. It has taken us less time in India to reach this level in organized retail as compared to some of the other developed countries and it should not take us more than a decade more to reach the same levels as the developed countries.
India has seen the development of malls and quality retail space, but one parameter where the industry is lacking is the quality of infrastructure to support the industry and it might take a decade or two to reach the desired levels. The front end of our retail is as developed as any other developed country.
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