Future Group founder and modern retail business pioneer Kishore Biyani today said that doing business is “getting more difficult in the current scenario of regulations” but expressed hope the situation will improve over the next two years.
Speaking about the current regulatory environment at the India Retail Forum (IRF) here, Biyani expressed disappointment over ever-increasing number of permits for doing business.
“The numbers of permits we need to obtain are ever- increasing and doing business is getting more difficult in the current scenario of regulations,” he said.
Biyani, however, was positive that the situation will improve over the next two years.
On expectations from the festive season, Biyani said after a couple of tepid seasons, the mood is quite positive and the company expects more than 25 per cent growth in sales during the current fiscal.
He also pointed out that monsoon was not that bad this year, except in few regions, and he did not foresee any problems because of it.
“The drought-like situation is in a few parts of the country and we are probably not in those regions,” he said.
With specific reference to the Maharashtra government, he said, “We had discussions on draft retail policy with the Maharashtra government, in which they had agreed to take more views of the retailers. And I think the government is very proactive in understanding us.”
In the recently released ease of doing business index by the World Bank, Maharashtra was ranked eighth behind states like Jharkhand, Chhattisgarh and Odhisa.
While pointing out that competition was very low this festive season, Biyani said he expects most retailers to achieve double-digit growth.
“We are looking at more than 20-25 per cent growth in sales. Fifty percent of our business comes in the second half of the year. We expect this period to be much better than the last year,” he said.
“I think the mood is quite positive now… we didn’t have the best of seasons earlier. The beginning of the pooja season which started in the eastern part of India is also quite positive. There are some feelings which tell us that this time the festive season will be far, far better than the last year,” he said.
“This festive season has come at the right time in terms of the season change for the fashion business. It’s a beginning of the winter, so there is very good chance that the season will be good. The optimism started with Onam in Kerala,” he added.