Home / Knowledge / News / Apparel/Garments / Indian retailers must invent new technologies: Minister
Indian retailers must invent new technologies: Minister
10
Aug '13
The retail industry must take the lead in inventing new technologies to meet the rising aspirations of the Indian consumer, Mr. KV Thomas, Minister of Consumer Affairs, Food & Public Distribution, has said.
 
Inaugurating Massmerize 2013, organized by FICCI with the support of Ministry of Consumer Affairs, Food & Public Distribution, Government of India, the Minister stated that in the digital era there was an urgent need for Indian industry to adapt and harness the power of new technologies and reap the advantage of cheap labour, and intelligent workforce and a market of over a billion Indian people.
 
The theme for this year’s Massmerize conference was ‘Consumerism in digital era’, which highlighted the transitions observed in the industry with advent of technology and new innovations.
 
Speaking at the conference, Mr. Thomas said, “We live in a global village. It is a vast canvass out there for you to explore. Therefore, I want Indian industry to think more, to aim high and to reach for the stars. The world must look to us for emerging and newer brands that the world can bank on.”
 
However, expressing a concern, he said, “I would expect Indian industry to live up to the expectations of the people who look up to them for goods and services at a price that they can afford. The consumer behavior is experiencing consumer technologies.”
 
While speaking on ‘Consumer is the king – How to serve them better!’ Mr. Pankaj Agrawala, Secretary, Ministry of Consumer Affairs, Food & Public Distribution, said the Ministry was in the process of setting up an inter-ministerial committee to look into unfair trade practices and formulate a framework to curb the menace.
 
Ms. Naina Lal Kidwai, President of FICCI, said, “Increasing incomes, growing urbanisation, digitalisation and exposure to global trends are giving rise to an evolved consumer base and meeting consumer aspirations is now the key focus of the Industry.”
 
“India is slowly picking up in the trend of becoming digitally active in the ways of communications to consumers, on account of increasingly growing internet penetration in both urban and rural areas,” she added.
 
She said digitally active consumers have embraced the Internet, telecom, media, and social space, changing the way they communicate, transact, and make purchase decisions, thus giving rise to digital consumerism, and retail companies are capitalising on these changing trends.
 
 

Must ReadView All

Apparel/Garments | On 28th Apr 2017

Continue existing Duty Drawback, ROSL scheme post GST: TEA

Tiruppur Exporters' Association (TEA) has made requisitions to...

Apparel/Garments | On 28th Apr 2017

Deckers Brands starts review of strategic alternatives

Deckers Brands, a global leader in designing, marketing and...

Courtesy: Adidas

Apparel/Garments | On 28th Apr 2017

Adidas, Siemens initiate joint research programme

Adidas and Siemens are initiating a joint research programme for...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X