PRNewswire
Mumbai (Maharashtra) [India], February 25: India's retail industry gathered its biggest names under one roof next week at Great India Retail Summit this week at the Jio World Convention Centre, Mumbai. Themed 'India's Blueprint for the World', the event is set to host renowned Bollywood celebrities to global retail giants.
India is racing to become the world's third-largest consumer market, but the old playbook doesn't work anymore. Quick commerce is delivering groceries in 10 minutes. AI is predicting what one will buy before they know it. And small-town India is suddenly shopping for luxury goods.
Atul Ruia, Chairman and Non-Executive Director of The Phoenix Mills Ltd said, "Everybody's eyes are on India. But for me, it's not that India is the next big story. Today, India is the story for the world. We are in the now. Political stability, low inflation, high growth. and a steady taxation regime makes India very, very investable."
Over 1,000 retail leaders, 200+ speakers, and 400+ brands converged for what's being called the industry's most critical gathering in a decade. Here's what some of the other speakers shared:
"Why do you want to build a brand abroad when the largest consumption population is in this country? We do all our branded business fundamentally in India and in the Middle East. The minute you want to build a brand in the UK, it looks very interesting, but the chances of success are very, very low. We've debated being on Oxford Street hundreds of times. The answer is no. It takes disproportionate time, energy, effort, and capital to chase what can become an egoistic opportunity," said Gautam Hari Singhania, CMD, Raymond Ltd.
Rajneet Kohli, Executive Director-Foods at HUL added, "India is a continent, not a country. A trillion-dollar economy will add more consumers. Per capita consumption will add more money in their hands. The answer is not or -- it is an and."
The iconic Bollywood actress, Kajol also chimed in, "What will work globally, are stories from India, about India, rooted in our culture."
The Small-Town Revolution: Sessions led by mall developers and retail chiefs revealed how Tier 2 and 3 cities--not metros--are driving India's retail explosion.
Tech That Actually Works: Google Cloud, AWS, and other tech giants showcased AI tools that are changing everything from inventory management to customer service.
Global Playbook: International experts including Ron Kaufman, IKEA's Patrik Antoni, Reebok's Co-founder Joe Foster, shared what Indian retailers can learn from global success stories.
The summit featured 'Retail Mela' where direct-to-consumer brands can pitch to mall developers on the spot for prime retail space. A Tech Zone that let attendees test-drive tomorrow's retail technology today.
About the Summit
The Great India Retail Summit, organized by ETRetail.com (The Economic Times), is India's flagship platform for retail innovation. In its second year, the event is charting the roadmap for India's retail decade (2025-2035).
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