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Transforming Retail Awards: Showcases the potential of Indian retail industry

Transforming Retail Awards Showcases the potential of Indian retail industry 001“There are many who are yet to understand the potential of the Indian retail industry that we seek to unleash,” said Smriti Zubin Irani, Union Minister of Textiles speaking at the recently held Transforming India through Retail Awards. “People keep guessing about the size of domestic retail market in India. Their guesses range from 100,000 to 500,000 crores , nobody really knows exactly what the size is,” added Rahul Mehta, President, CMAI. “This is a herculean task, CMAI is attempting to do,” he added. CMAI recently tied up with one of the largest survey agencies in the world to determine the total industry size, product category wise sales and consumption, region wise consumption.

Mehta pointed out ‘The Transforming Retail Awards’ is not an award show for the biggest or the largest or the best in retail. “We are trying to emphasize that through retail there have been brands, individuals who have impacted the social structure of our country. They have transformed the lives of hundreds and thousands of people. So these are recognition and awards to retail stories and retail individuals who have actually transformed the way a product category was retailed in the past or a particular region was serviced in the past or the way retail itself was being conducted in the past.”

Starting from Being Human, Manyavar, Biba, Monte Carlo and many more brands like Ethicus and individuals like B S Nagesh were awarded.

Making Indian weavers confident

Raghavendra Singh, Secretary, Ministry of Textile informed “we recentlyTransforming Retail Awards Showcases the potential of Indian retail industry 002 signed an MoU with some of the prominent garmenting companies in Mumbai to enable the government to focus on their demands. This would aid in reducing the production costs of weavers. The whole idea was to make them confident and strong in terms of adhering to quality standards and meeting deadlines.

Support to the powerloom business

The ministry reiterated its commitment to training people in stitching, tailoring, in apparel making and retail under the Samaj Scheme. “The Future Group has come up with a brilliant suggestion of supporting the power loom business. Hence, CMAI in conjunction with the Ministry of Textiles and the office of the Secretary of Textiles, will identify power loom clusters from which adequate resources will be procured by the Ministry of Textiles,” added Irani

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