Hong Kong : HKTDC hosts seminar on accessing retail market in India

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HKTDC hosts seminar on accessing retail market in India

24
Mar '17

The Hong Kong Trade Development Council (HKTDC) organised a seminar titled 'Access to Retail Market in India' which was attended by over 140 delegates at which, Rakesh Biyani, co founder of Future Group was the keynote speaker. The seminar was organised to offer information on India’s retail market and related business opportunities and challenges.

Biyani told the attendees that India is the fastest growing economy in the world and that the number of influential consumers will grow to between 350 million and 400 million by 2020, similar to the entire population of the United States.

According to Biyani, Hong Kong typically tends to be trendier and more quality-oriented and is the best location for sourcing entry level, good priced products in the better and best category.

"This makes Hong Kong as the ideal business partner for our company as well as for retail companies across India to achieve their goals," he said.

Biyani also pointed out that India has the fastest growing number of internet users, close to 460 million currently, while also having the world’s cheapest mobile data service plan.

"60 per cent of the Indian population is under 40 and the average age will be 29 in 2020, which also throws up tremendous potential for ecommerce and online shopping," Biyani observed. (AR)

Fibre2Fashion News Desk – India