Retail Sector can create linkages between various sectors and contribute to GDP: Prabhu

New Delhi: Commerce Minister Suresh Prabhu on Friday said that there was immense opportunity in the Retail Sector to create downstream and upstream opportunities.

It can create linkages between various sectors such as manufacturing, agriculture and services to create jobs and contribute to the country’s GDP, he added.

“Inclusive growth by taking the society along and other entrepreneurs will be the real game-changer for the retail sector,” Prabhu said while released the CII-JLL Report – Fuelling the Retail Revolution – The Paradigm of Emerging Cities.

Speaking on the proactive role played by government today in initiatives for the retail sector, he added, "...today we are trying to adopt a policy which will create an ecosystem where retail will not only reach our masses but also create opportunity for jobs and contribute to the economy. Win-win partnership for those who are already in the business and those entering with huge capital is what will boost the sector.”

Eulogising E-commerce as a game-changer that will add a new dimension to the Retail Sector, he said, “Millions of jobs and opportunity will be created in E-commerce and the real challenge lies in capturing changing customer choice and thinking.”

The Government has planned last mile connectivity which will provide mobile connectivity to all corners of the country. Shri Prabhu said that the Ministry plans to provide poor craftsmen with E-commerce platform which will give them a virtual marketplace.

“We should all come together to bring out the true potential of the Indian Retail sector. The retail sector too has to work keeping in mind the society,” the Commerce Minister said.

Emphasising that the organised retail sector should not displace mom & pop stores, he said that the organised retail should be done in a manner that it does not affect the social challenges.

“They should create more employment, should not displace the retailer who already are in business for years," Prabhu said.