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Post-GST: Growth will depend on strategic plans
12
Sep '16
Rohan Sharma, Associate Director – Research & Real Estate Intelligence Service, JLL India, speaks about the impact of GST on the retail sector.
 
Real estate prices are likely to remain within their existing range with increments only likely in select, superior mall projects once the Goods and Services Tax (GST) is rolled out. Besides, with the input tax credit helping save service tax, retailers would be keen to explore new places for store openings, according to JLL India.
 
However, business considerations and strategic growth plans are likely to remain key drivers for their future expansion, Rohan Sharma, associate director for research & real estate intelligence service with JLL India told Fibre2Fashion. Sharma was responding to a question about how real estate prices would play out in the near future, and whether one would see a proliferation of more retail outlets, including malls.
 
Sharma said, “Physical retail growth will continue to be driven by business considerations and we are unlikely to see a spurt in store openings. Growth will be determined by strategic plans for under-served markets, upcoming locations and product offerings in established retail corridors.” On the question of growth, he added, “Growth will be determined by strategic plans for under-served markets, upcoming locations and product offerings in established retail corridors.”
 
President Pranab Mukherjee gave his assent on Thursday to the constitution amendment bill that enables the implementation of GST, which is expected to be rolled out on April 1, 2017. GST is expected to have an impact on tax collection since compliance with the new tax regime is expected to become easier. Experts believe that even though manufacturing, warehousing and logistics would benefit the most from GST, the retail sector could benefit immensely from this development.
 
It may, however, be a while for the GST regime to show results on the ground. On this, Sharma remarked, “While GST is considered a gamechanger, the law and its impact will be seen once implemented and our thoughts are that there will be evolution and learnings once actual implementation starts, and the law and authorities will be agile to respond to any demands from various industries and in the medium to long term, India becoming a unified marketplace will help us grow as a nation.” (WE)
 
Click here to read the full interview.

Fibre2Fashion News Desk – India

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