Nov 18, 2021,
New Delhi A distinguished panel at the event:
Dr Sanjaya Baru, Journalist, Author, Policy Analyst, Political Commentator and Advisor – Think Change Forum. Distinguished Fellow, Institute for Defence Studies & Analysis.
He has served as Media Advisor to PM Manmohan Singh (2004-08). He has a Ph.D. in Economics from JNU. He is the author of the book ‘The Accidental Prime Minister’.
G Padmanabhan, Former Executive Director of RBI. He served as the Executive Director of the Reserve Bank of India (RBI) from 2011 to 2015, playing a key role in shaping banking policies and regulatory reforms. Since then, he has been a consultant with AZB & Partners, offering valuable insights into regulatory and other related issues.
Harminder Sahni, Founder & MD, Wazir Advisors. He is a proficient management consultant specializing in the Textile, Apparel, Retail, CPG, and Food industries. He is a pioneering angel investor in India and boasts of a portfolio of over 20 investments made since 2009.
Devangshu Datta, Founder and Chief Executive of Third Eyesight & Managing Partner, PVC Partners. He specializes in strategy, operations, and organizational transformation across diverse sectors including fashion, luxury, beauty, health, FMCG, e-commerce, and others. He is a trusted advisor with expertise in driving growth, innovation, and sustainability, particularly in ESG and social development.
Gaurav Choudhury, Founder and CEO, Earshot Media and Consulting Editor, Network 18. With over two decades of experience in the media industry, he is a recognized leader in media consultancy, focusing on strategic content development and brand positioning.
Thinks Change Forum through a well-organized event with a well-known panel touched upon the critical role of the retail sector in propelling the Indian Economy forward. The related topics discussed at the event by the panellist were Regulatory Clarity, Speed and Protection of Livelihoods, Healthy Competition the Key for Retail Sector Growth in post-COVID Indian Economy. The panel at the event had a few observations including that the Indian Retail Sector was promising but had its set of conflicts. They further observed that the Greenfield National Retail Policy was critical in tackling predatory overtures along with steps for sectoral recovery matching pre-COVID levels. The panel at the event discussed in detail the “Role of Retail Sector in Rebooting the Indian Economy in the Post-Pandemic World”. The panel observed that the retail sector in India accounts for almost 10 percent of the nation’s GDP and is among the top three employment generators, providing livelihoods to about eight percent of the country’s workforce. However, the panel observed that the retail sector due to its intricate conflicts was not achieving as much as expected. The panel at the event believed the retail sector could play a significant role in revitalizing the Indian economy post-pandemic provided there is a progressive ecosystem in place for its growth. The panel at the event believed that to streamline the retail sector Competition Commission of India (CCI) should have more teeth, this would ensure the protection of the employment potential of smaller traders even at the cost of larger players. The panel gave the example of sceptre of conflict, epitomized by the Amazon-Future Group feud, that threatens to scuttle everything. An eminent panellist at the event Dr Sanjaya Baru, Journalist, Author, Policy Analyst, Political Commentator, and Advisor – Think Change Forum, observed that no regulatory body is independent including CCI. He further observed that due to regulatory issues monopolistic and oligopolistic behaviour has been seen in the retail sector. Renowned panelist at the event Mr. G Padmanabhan, Former Executive Director of RBI had a very important observation he said regulatory bodies should make quick decisions and solve the issues, he further said everyone knew what Amazon was up to, but nothing was done about it in time. A well-known panelist at the event Harminder Sahni, Founder & MD, Wazir Advisors, reflected that policy loopholes happen when new clauses are added to the existing policies giving way to a lack of clarity which results in exploitation by international players like Amazon in India. A reputed panelist at the event Devangshu Datta, Chief Executive, Third Eyesight & Managing Partner, PVC Partners observed that like China India should allow foreign companies in small lots so that local businesses can also survive the influx of foreign companies in Indian markets. Dr Sanjaya Baru at the event further observed that in the post-pandemic era, the recovery was less V-shaped, and more K-shaped in the retail sector. Harminder Sahni had an interesting observation at the event he said barely 29 percent of the population of India has ever gone to the malls; there is a huge runway still available for organized retail. Overall, the discussion on the retail sector at the event was interesting, incisive, and informative and the crux that came out of the discussions was that easy-to-follow and implemented policies without scope for wrong interpretation would go a long way in giving the Indian Retail Sector a thrust.