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9, December 2006 Pragati Maidan, New Delhi.
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Speaking at a discussion on “Innovation at Retail” at the World Economic Forum, the Secretary for the Commerce and Industry ministry, Ajay Dua said that global retailers must adapt different business models to be successful in developing countries. He added that each country required a “unique country characterization” instead of using the same strategy that has worked elsewhere. On the peaceful co-existance of organized retail and mom and pop stores, he said, “While organised retail formats in all the emerging markets are growing, given the rise in disposable incomes and rapid additions to the middle class, they will have to co-exist with the traditional mom-and-pop stores which have their own place.”
Date: 01-Feb-2007
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