Interview on Indian Retail
There is an excellent interview with Kishore Biyani who is considered to be King of Indian retail. He recently spoke at the Indian Retail Forum. He is the founder of the Indian Retail chain, "big Bazaar", which is really doing well.
According to him 2009 is the defining year in Indian retail as most of the malls would be complete by then and many of the international retailers would have entered into the indian market by then. However the challenge is the real estate market, which seems to be skyrocketing. Real estate prices are touching the sky and for retail to succeed prime real estate is key.
Making credit available at cheap rates is another critical factor to fire up the boom. Credit card industry is booming in India which leads to spending by the middle class.
