India Retail News

Retail is an extremely important sector in the economy, but has been overlooked by India's policy makers. The sector, with reforms, is capable of creating eight million jobs in the next ten years. Further, as the sector develops, prices of goods will fall, thereby raising the standard of living of people across the economy. To unleash the potential, three reforms are essential. First, FDI should be allowed in the sector. Second, land market barriers that create an artificial scarcity of land should be addressed. Third, constraints in upstream sectors should be removed, to allow retailers to create efficient supply chains.