| The boom in India's retail industry is mainly due to the rise in shopping malls across the country in the past five-six years even as their management has emerged as a big challenge, industry experts, reports IANS. Industry leaders discussed the need for an effective mechanism for the proper management of the shopping malls at a seminar - Retail Symposium 2006 - held in Delhi last Thursday under the aegis of the Confederation of Indian Industry (CII).
'Mall management is the biggest concern faced by the country's retail industry today. This is one area which has been neglected time again, either by the real estate developers or by the retailers,' Kabul Chawla, chairman and managing director of BPTP Ltd., told the conference.
Said Kamal Taneja of Taneja Developers and Infrastructure Ltd.: 'We should first understand the needs of the market where a specific mall is going to be set up. A right mix of retail and mall management by developers will together weave a success story.'
India is the ninth largest retail market in the world and organised retailing in the country would cross the $21.5-billion mark by 2010 from $7.5 billion now. For full report, click
http://news.monstersandcritics.com |
