FDI in retail will not lead to unemployment and closure of small shops, asserted Vikas Garg, Senior Consultant, Technopak Advisors, while addressing the ‘National Level Retail Summit 2007’ organised by Jain Group of Institutions owned, MATS School of Business & Information Technology in Bangalore.”The retail revolution is on us, and regardless of FDI the revolution will happen. Even, FDI when allowed in retail, will also not result in unemployment and closure of small shops,” added Garg.
Shoppers are now wanting the cheapest, biggest and the quickest products/services from their retailers. They are moving towards the ‘est’ model, said Vipul Parekh, Vice-President, Merchandising, Indiaplaza.in (erstwhile Fabmall.com). He was commenting on the changing behaviour the Indian customers.