MSMEs rolling out products should use barcodes to give them a unique, global, ID. A not-for-profit standards body in India, GS1, can help local firms in the adoption of bar codes -- the set of black vertical lines of varied thickness, with white spaces separating two lines.
The Indian retail sector has scaled impressive heights with the advent of chain stores, new high streets and the creation of malls in tier 1 and 2 cities. Comprising of organized and unorganized sectors, the Indian retail industry is the fifth largest in the world.
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.
Big farm lobbies in India, where agriculture accounts for 16 percent of the country’s GDP and 10 percent of its export earnings, believe that foreign direct investments into multi-brand retail will benefit farmers in the years to come.
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.
India’s decision to allow foreign direct investment, to the tune of 51 percent, into multi-brand retail could serve a death knell to five crore traders, and their families, whose livelihoods are at stake because of this one government decision, according to the national traders’ body.
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.
Vijay Jumani, founder and CEO of Hoopos.com, believes that the internet is now becoming a preferred destination for shoppers. He feels that people are increasingly getting attracted to the online medium because of the ease in shopping that it offers.
A venture started by Megha and Pawan Deokule in 2011, i2cook creates organic retail packaged products, which are available across Mumbai and Bangalore. A business that believes in organic production, it makes all its products using organic ingredients.
Brown Tree is a chain of health food stores, located in Bangalore and Chennai. Started in July 2009, it is the brainchild of Abhinandan B and Dinesh Kumar. It claims to be the one store that stocks all your needs to maintain a healthy lifestyle.