CII Envisages Retail Market Development

New Delhi, Nov 13: | Updated: Nov 14 2003, 05:30am hrs
The retail sector needs to develop and articulate a vision. The Confederation of Indian Industry (CII) hoped to undertake this initiative and complete the exercise by next year, said CIIs national committee on retail chairman Vikram Bakshi at the concluding session of Retail India 2003 organised by the industry body in New Delhi.

Mr Bakshi emphasised the need to work on human resource issues for the industry, which included training and attracting talent.

He said CII would also work with the government to address regulatory and policy issues of concern to the industry.

A debate titled Has MRP Lost Its Relevance was addressed by various stakeholders. Department of consumer affairs additional secretary Satwant Reddy, speaking against the motion, said that MRP was still relevant and was a source of information for both the industry and consumers. This ens-ured transparency and still the best option in India with unorganised retail sale providing consumers with the knowledge as to what they should pay, she said.

Nirulas fastfood restaurant chain MD Lalit Nirula said that MRP had lost its relevance as it went against the interest of both manufacturers and consumers ending up with retailer selling the products at the maximum price.