Reliance Retail has been ranked 189th in the list of top 250 global retailers this year, a report by Deloitte Global says. The company recorded a 59.2 per cent growth in retail revenue in fiscal 2015-16, according to the report, which foresees innovation, collaboration, consolidation, integration and automation as some of the trends in Indian retail.

Having faced demonetisation and the goods and services tax (GST), the India retail sector continues to be promising and will soon be poised for a compound annual growth rate of more than 10 per cent in 2019, a news agency report quoted Anil Talreja, partner, Deloitte Indi, as saying.

Opening up of foreign direct investment for single brand retail has offered a stimulus for global retailers to take a call on their entry into India or further presence, he said.

The retailing subsidiary of Reliance Industries (RIL), also operates in the apparel and accessories space with its Reliance Trends and Reliance Footprint nameplates.

Consumption potential continues to be strong and attract retail companies to focus on new ways of tapping the Indian market. Digitisation and technology are predicted to play a key role in the strategy of the Indian retailer, the Deloitte report observed.

These trends and regulatory support may make Indian companies show up on the global list very soon in the coming years, Talreja said.
The longer-term retail outlook remains strong, especially as reforms are likely to have a positive long-term benefit, the report said.

Europes share of the Top 250 dropped again, with 82 retailers based in Europe and the gap widened versus North America, it added. (DS)

Fibre2Fashion News Desk – India

Disclaimer - All News/Articles items are subject to copyright and no article either in full or part may be reproduced in any form without permission from Fibre2Fashion Pvt. Ltd.