Interview

HP ushering in the digital printing revolution ...

While talking to ITVAR NEWS, Puneet Chadha, Dir
Read More >

READ All

Analysis

Cloud makes small business look big...

Rajesh Rege, Senior VP, Data center and Cloud b
Read More >

READ All

Schemes

Enteg helps Loadstar to run mission critical appli...

Loadstar has implemented SAP ECC 5.0 in 2006. A
Read More >

READ All

Indian Retail set to Become Big on IT consumption

Posted on November, Tuesday 29, 2011 By itVAR News Network

Email
Print
( 0 )

With the Indian government paving the way towards bigger investment opportunities for Indian retail sector, it is likely to become a big buyer of IT and communications equipment within India

Today, India's large retailers have stepped up engagement with foreign superstores, after the government swept aside a big hurdle for foreign investment in the country's $450 billion (over Rs 20 lakh crore) retail segment. This is set to increase their IT and communications buying to an exponential increase.

This is set to increase IT implementations with the burgeoning retail sector such as closed loop surveillance systems, RFID tracking, solutions with biometric technologies, smart cards implementation. Experts also believe that this move is coming at an ideal time, as today a lot of big communications focused multi-nationals have started to focus on the enterprise side and for them retail would automatically become a big sector.

The Indian government has allowed foreign entities to own up to 51% stake in multi-brand retail and raised foreign direct investment or (FDI) in single-brand to 100% in order to boost foreign inflows into the retail sector and improve its infrastructure.

The Videocon group has started its talks with US-based electronics chain Best Buy on a joint venture for its durables retailing business Next Retail and India’s telecom giant Bharti Enterprises has firmed up plans for talks with the world's biggest retailer Walmart for a joint venture in front-end retail.

On the other hand, Best Buy is a $50-billion company with over 1,100 stores globally. It is interesting to note that so far, global retailers such as Walmart, Tesco and Carrefour were barred from entering India's front-end retail due to the country's restrictive FDI policy, today all this is changing to a new dimension.

Moving forward, retail is surely going to need a lot more of IT equipment both is software as well as hardware, in terms of becoming better on the functionality front.

Discuss this Story

Add a Comment

Name (required)

Mail (will not be published) (required)

Phone

Website

Email Alert

Reload Image

Enter above Code *

"ITVAR News welcome comments that advance the story directly or with relevant information. We try to block comments that appear to be spam or use offensive language. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of IT VAR News or Techplus Media. We cannot be held responsible for error and authenticity of details associated with comments. IT VAR News does not endorse the products or its specifications."