Even as sections of the advertising and marketing industry did not like many others foresee the new political formation, the retailing industry is hoping that some of the pending policy issues related to it will be resolved by the new government.
Rediffusion DY&R president Preet Bedi said, “It’s good that they have given a clear verdict-no hung parliament. Personally, I think this change will not affect our ad industry in any way.”
Mudra Communications chief executive officer Madhukar Kamath said, “These results have been unexpected, surprising and extremely revealing. I think a stable government will propel the growth of any industry in India.”
Panta-loon Retail India Ltd managing director Kishore Biyani said, “The results have been surprising to a certain extent given the buoyancy which one witnessed. However what is needed now at the centre is a decisive government, willing to take decisions.”
According to KN Iyer, CEO — Crossroads, Jammin and Piramyd Supermarket and director & CEO of Piramyd Megastore, the industry expects the new government at the centre to look at FDI in retail more seriously. The issue needs serious attention for the growth of organised retail in the country.
BA Kodandarama Setty CMD Vivek Ltd said, “The outcome was not at all anticipated. Indian consumer really benefitted in last six-seven years due to favourable economic poilcies. We expect the new government to open up the economy further, including the retail sector with provision for FDI (foreign direct investment). There could be a bit of uneasiness among people in accepting Sonia Gandhi as prime minister but we dont have a choice.”
Shopper’s Stop Ltd customer care associate and managing director and CEO BS Nagesh said, “My personal belief is that the new government will also be pro reforms and will not reverse any of the earlier measures. However, their reformed agendas may start after a few months once they have finished with their earlier stated agenda. Indian economy’s growth is going to be highly driven by improving consumption at all levels of society.”