As you all know, INDIA RETAIL FORUM (IRF) has been the signature event of the retail sector in India, for the past 13 years, ever since its inception in 2003. It has rightfully garnered its share of international acclaim with RETAIL WORLD of UK, calling it ‘the 10 most significant retail events that will shape the future of retail the world over’, and The Associated Press of USA describing IRF as “the biggest retail industry convention” in India.
At the 13th edition on 21-22 September 2016 at The Renaissance Hotel and Convention Centre at Mumbai, I see a great opportunity to build a period of Retail Renaissance, where with our collective wisdom and collaboration through honing our best practices, evolving newer formats and delivery models, we can grow the pie of the Indian modern retail industry together, and in turn lead to more profitable and expanding businesses for all of us, in our own way.
Earlier this year, India overtook China as the fastest growing major economy, expanding by 7.3 percent and cementing its position as one of the sole bright spots in a troubled global economy. IMF is projecting GDP growth of 7.5 per cent over the next two years for us. In fact, the total size of the Indian economy is now set to surpass Japan and Germany combined by 2019!
We are also rated as the fifth largest global destination in the world for retail. India’s retail market is expected to nearly double to US$ 1 trillion by 2020 from US$ 600 billion in 2015, and within this, modern trade would expand twice as fast at 20 per cent per annum, driven by income growth, urbanisation and attitudinal shifts.
That, precisely, is the reason that I am writing to you in my role as the Chairman of India Retail Forum, and take the pleasure of bringing you onboard in our efforts to lead by Igniting, Reinforcing and Forging, new ideas and relationships – at IRF 2016.
As Chairperson of India Retail Forum 2016, I am very proud to share with you the theme for this year’s event, which aptly asserts the latent power of the Indian consumption and retail story: ‘NAVIGATING THE FASTEST GROWING MAJOR MARKET OF THE WORLD’.
IRF is truly the only forum which matters in India when it comes to retail leaders sharing game-changing insights, world-class concepts, as the breaking ground for India entry strategy for global players, and as the incubation ground for fruitful multi-million dollar partnership ideas and alliances. Now in its 13th edition, this annual event will bring together delegates from all nooks and corners of India and the world, 175+ distinguished speakers from around the world, 100+ exhibitors of next-generation innovations for the retail sector, and innumerable opportunities to tap into this high potential market.
With best regards,
Chairman | India Retail Forum
President and CEO | Walmart India