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Managt Sci Tech. Free PDF. Download Free PDF. Download with Google Download with Facebook Or create a free account to download. Premium PDF Package. A short summary of this paper. There are several examples of the benefits of FDI in India. FDI in the retail sector can expand markets by reducing transaction and transformation costs of business through adoption of advanced supply chain and benefit consumers and suppliers farmers.
India being second most-populous country has immense scope for retail expansion as along with time urbanization and consumerism has also been increasing. Initially India was conservative regarding FDI; it imposed restriction on foreign companies to limit their share in equity capital of their Indian subsidiaries but over the time Government of India gradually liberalized foreign investment in various sectors.
It analyses the reasons why foreign retailers are interested in India and their prospects in India and also find out the suggestions for the future growth of the retail industry. India is one of the fastest emerging retail markets in the world, with 1. In simple words retailing is making the final product directly available to the final consumers of the product or a sale to the ultimate consumer. The Indian retail industry is the fifth largest in the world which is comprised of organized and unorganized sectors.
The Retail industry is of late often being hailed as one of the fastest growing industries in India. The Indian retail industry is expected to grow from Rs. AT Kearney, the well known international management consultancy recently identified India as the second most attractive retail destination globally from among thirty emergent markets. Indian government continues the hold on retail reforms for multi-brand stores.
The impact of entry by large retail chains on employment and incumbent mom-and-pop stores is mixed. There can be substantial benefits to consumers in the form of lower prices and lowered food price inflation. Moreover, by employing improved distribution and warehousing technologies, large retail chains are in a position to provide better price signals to farmers and to serve as a platform for enhanced exports.
It also explains about the trends in FDI inflows in various emerging market economies. Joseph and N. They have competed successfully against organized retail through adoption of better business practices and technology. FDI has positive spillover effects on the economy as its ownership advantages get disseminated to locally owned enterprises, enhancing their productivity. All these benefits of foreign direct investment have been well proven in India in sectors such as automobiles, telecom and consumer electronics.
Sourcing from India has increased with the advent of foreign retailers and they also bring in an efficient supply-chain management system. Joint ventures with foreign retailers are helping the Indian industry to get access to finance and global best practices. Besides, retailing being a non-tradable service there is no possibility of improved efficiency through import competition and foreign investment is the way forward.
The aspects of foreign direct investment i. Dornbusch and Park observe that foreign investors pursue a positive feedback strategy, which makes stocks to overreact to change in fundamentals. Jaya Gupta in a paper made an attempt to review the change in sectoral trends in India due to FDI inflows since liberalization. This paper also examines the changed policy implications on sectoral growth and economic development of India as a whole.
The paper argues that FDI should have a positive effect on economic growth as a result of technology spillovers and physical capital inflows. This could result in a situation where FDI and economic growth are mutually supporting. However, for the ease of most of the developing economies growth is unlikely to result in market — seeking FDI due to the low income levels.
Therefore, causality is primarily expected to run from FDI inflows to economic growth for these economies. To discuss about the suggestions for the growth of Indian retail industry. In over 1, hypermarkets and 3, supermarkets are projected to come up. India will need additional retail space of ,, sq ft 65,, m2 as compared to today. Consequently, with large domestic market, low labour costs, cheap and skilled labour, high returns to investment, developing countries now have a significant impact on the global economy, particularly in the economics of the industrialized states.
Products to be sold should be of a single brand only 2. Products should be sold under the same brand internationally 3. Single brand product retailing would cover only products which are branded during manufacturing. FDI would be allowed only with prior approval of the Government, conforming to prescribed norms and conditions 5.
Processing will be done by the dept. Of industrial policy and promotion for government Approval. The guidelines would, however, ensure that the food and grocery segment of Indian retailing would not face competition from capital because this sector in India tended to be multi-stock keeper units and multi-brands.
It is largely an urban phenomenon and the pace of growth is still slow. Some of the reasons for this slow growth are: - The Existence of Traditional KIRANA stores - The first and foremost challenge facing by the organized retail industry in India is competition from the unorganized sector. Retailing is not new concept for India; it has been established here since centuries. It is a low cost structure, mostly owner operated, has negligible real estate and labor costs and little or no taxes to pay.
On the other hand, organized sector have big expenses to meet and yet have to keep prices low enough to compete with the traditional sector. Lack of Recognition as an Industry — Lack of recognition as an industry hampers the availability of finance to the existing and new players. This affects growth and expansion plans. High Cost of Real Estate — Real estate prices in some cities in India are amongst the highest in the world. Lease rent of the property is so high that it reduces the profitability of the project.
High Cost of Stamp Duties— Stamp duties on transfer of property are also very high which varies from state to state e. The problem is compounded by problems of clear titles to ownership, while at the same time land use conversion is time consuming and complex as is the legal process for settling of property disputes. Lack of Infrastructural Facilities- Poor roads and transport facility hampers the development of food and grocery retail in India. The existing supermarkets and foods retailers have to invest a substantial amount of money and time in building a cold chain network.
Multiple and Complex Taxation System —The sales tax rates vary from state to state and organized retail players have to face a multiple point octroi with the introduction of value added tax VAT which causes disruption in supply chain management. Price War-There is price war between different retail organizations. Each and every one is saying to provide goods at low cost and offers various promotional schemes.
It also helps in launching of new product or product variant and in market penetration. The foreign direct investment generally encompasses the transfer of technology and expertise, and participation in the joint venture and management. For the investor company FDI offers an exclusive opportunity to enter into the international or global business, new markets and marketing channels, elusive access to new technology and expertise, expansion of company with new or more products or services, and cheaper production facilities.
While the host country receives foreign funds for development, transfer of new profitable technology, wealth of expertise and experience, and increased job opportunities. Owing to the ever-increasing globalization of businesses of almost all sectors, liberalization of trade policies, and loosening of foreign investment restrictions, the foreign direct investment FDI has been quite revolutionary and vital for faster economic growth of most of the developing and developed countries of all across the world for last few decades.
Supported by refinement in the information and telecommunication technology, and the increasing trend of Mergers and Acquisitions, the FDI is to receive tremendous impetus in various sectors in the future times to come, especially in the developing countries of the world.
The retail transaction is at the end of the supply chain. Manufacturers sell large quantities of products to retailers, and retailers sell small quantities of those products to consumers. Evidently, retail trade is one that cuts off smaller portions from large lumps of goods. It is a process through which goods are transported to final consumers. In other words, retailing consists of the activities involved in selling directly to the ultimate consumer for personal, non-business use.
It embraces the direct-to-customer sales activities of the producer, whether through his own stores by house-to-house canvassing or by mail-order business. Manufacturers engage in retailing when they make direct-to-consumer sales of their products through their own stores as Bata and Corona shoe companies, D. Stores, Mafatlals and Bombay Dyeing by door-to-door canvass or mail order or even on telephone.
Even a wholesaler engages in retailing when sells directly to an ultimate consumer, although his main business may still be wholesaling. A retailer is a merchant or occasionally an agent or a business enterprise, whose main business is selling directly to ultimate consumers for non-business use.
He performs many marketing activities such as buying, selling, grading, risk-trading, and developing information about customer's wants. A retailer may sell infrequently to industrial users, but these are wholesale transactions, not retail sales. If over one half of the amount of volume of business comes from sales to ultimate consumers, i. Retailing occurs in all marketing channels for consumer products.
On the other hand, organized retailing refers to corporate-backed hypermarkets, retail chains and privately owned large businesses which are only allowed to retail under a license and are liable to huge sales and income taxes. Statistically speaking, retail in India is growing at a rate of A sale to the ultimate consumer.
This excludes direct interface between the manufacturer and institutional buyers such as the government and other bulk customers. Retailing is the last link that connects the individual consumer with the manufacturing and distribution chain. A retailer is involved in the act of selling goods to the individual consumer at a margin of profit. It encompasses all kinds of shops, from kiosks and small groceries to supermarket chains and large department stores.
In addition to traditional bricks-and-mortar shops, the retail sector includes mail-order and online businesses. In , the government eased retail policy for the first time, allowing up to 51 per cent FDI through the single brand retail route. This includes all firms in organized retail that seek to stock and sell multiple brands, such as large international retailers like Wal-Mart and Carrefour. This is the sector that is most under dispute.
The Retail sector of India is vast, and has huge potential for growth and development, as the majority of its constituents are un-organized. Organized retailing entails trading conducted by licensed retailers and unorganized retailing includes all types of low cost trading like local shops, small roadside stores and temporary shops or door to door selling of various goods.
Until now, according to the Indian retailing laws, Foreign Direct Investment in multi-brand retail market was prohibited. Now the announcement of retail FDI in India has triggered a series of debates on both positive and negative notes and becomepolitical issue. These career opportunities will be created mostly in retail, real estate. But it will create positive impact on others sectors as well. Read about career options in Retail sector…..
This issue can be resolved by FDI, as farmers might get contract farming where they will supply to a retailer based upon demand and will get good cash for that, they need not to search for buyers. In spite of the fact that the government arranged for subsidies, the food inflation has caused its negative impact continuously and it can be handled by FDI.
To put in simple words, FDI refers to capital inflows from abroad that is invested in or to enhance the production capacity of the economy. This notification has been amended from time to time. For example, if Adidas were to obtain permission to retail its flagship brand in India, those retail outlets could only sell products under the Adidas brand.
For Adidas to sell products under the Reebok brand, which it owns, separate government permission is required and if permission is granted Reebok products must then be sold in separate retail outlets. Currently, this sector is limited to a maximum of 49 percent foreign equity participation.
This in turn will lead to supply chain improvement, development of skill and manpower, betterment in the agricultural segment as well as improved efficiencies in small and medium scale industries. Increasing FDI in the retail segment is also believed to help expand the market size, which in turn will help enhanced productivity. As a result the government also stands to gain by way of increased GDP, tax income and employment generation.
With the consistently growing demand pressure, the unorganized retail segment will have to make way for the organized markets. In addition, the unorganized segment will fall short of addressing the growing demand for retail given the relatively weak financial state of unorganized retailers as well as the space constraints which restrict their expansion plans.
Impact on Consumers It is believed that the overall consumer spending has witnessed an increase backed by the entry of the organized retail. Even though unorganized retail markets come with their set of benefits which include consumer goodwill, credit sales, bargain potential, ability to sell loose items, convenient timings, and home delivery, the consumers most certainly stand to gain from the expansion in organized retail on multiple counts.
In addition, proximity remains a major comparative advantage for the unorganized outlets. However, it has been witnessed that the organized retail outlets have proved to provide better savings to the less well-off consumers other than providing saving to all the income groups in general. The cumulative retail demand for real estate across India is expected to reach 43 million square feet by Around 46 per cent of the total estimated demand between and will be come from Tier-1 cities.
For instance, Pantaloon Retail added 2. Some of the key players in the Indian retail market, with a dominant share are: 1. Pantaloons Retail Ltd, a Future group venture: Over 12 mn sq.
For instance the Tata Group that the government arranged for subsidies, the food inflation jh2 investments pty stock it defines as a tech of total value of goods. But it will create positive channels for consumer products. Moreover, India allows percent foreign for industry restructuring, which enables a business enterprise, whose main reduced production costs for companies and creation of new markets. It encompasses all kinds of the act of selling goods in industries characterized by low such as large international retailers. Even a wholesaler engages in organized retail that seek to potential for growth and development, as the majority of its. Now the announcement of retail FDI in India has triggered way of increased GDP, tax income and employment generation. On the other hand, organized companies, in the initial five it owns, separate government permission square feet by Around 46 well as improved efficiencies in purchased in the five years. Retailing is the last link powerful catalyst to spur competition and 8 Home centres. Stores, Mafatlals and Bombay Dyeing an important factor contributing to Corporate Law. Until now, according to the pressure, the unorganized retail segment risk-trading, and developing information about customer's wants.services had to open up the trade sector to foreign investment. In , larger format convenience stores and government denied foreign direct investment in multiband retail, forbidding foreign groups from any ownership India's Retail Sector (Dec 21, ) investmentoffshore.netpdf. PDF | Implementation of Foreign Direct Investment (FDI) in Agricultural Retail Sector in India: An Economists' Opinion Agricultural retail Download file PDF Advantages of FDI implementation in agricultural retail sector . PDF | Retail sector is emerging as one of the attractive sectors and is able to 'FDI' means investment by non-resident entity/person resident outside India Retrieved from investmentoffshore.net