retail

India’s evolving retail market needs to innovate to understand customer behaviour. Lokvir Kapoor started Pine Labs in 2004 in a bid to become the leading provider of innovative financial transaction solutions. Over a period of eight years, his company has created an impact on the market.

It is a mixed bag as far as reactions to government decisions, to permit foreign direct investments into multi-brand retail and tweak sourcing norms for single-brand retail, in India are concerned. Those in praise of the government’s moves point out that policy hurdles, that can make it difficult for foreign retailers to enter India, still exist.

The Andhra Pradesh government has taken a decision to reduce the rate of value added tax (VAT) on the sale of textiles in that state, to one percent, from the earlier rate of five percent, according to an industry body.