The Indian pizza market is worth approximately Rs 1,300-1,400 crore out of the Rs 8,000 crore organised food sector of India, as per Euromonitor data last year. Domino’s enjoys 54 per cent share of the pizza market, and 70 per cent share if you look at the organised home delivery space.
We are operating at the premium level of the market, while Teacher’s Highland Cream is actually at the top end of the pecking order. We are playing up the inspirational value. We believe in offering the best and not necessarily at the least price, and that has been our effort; we have been very true to our quality. The consistent quality in the spirits, especially the Scotch, is the key to our success. Yes, Teacher’s has had its share of challenges, but has never compromised on its quality.
If you look at examples from the world, it’s the Walmarts who call the shots for stock markets in those countries. If they can do it, we can do it as well. We can do wonders if we have patience and the confidence in us. Indian retail is contributing 22 per cent to the GDP, 6 per cent from the employment front. Retail is set to create more employment opportunities than any other. International brands are also looking forward to come into India, so it is the right time to be in this space.
The remittance market globally is driven by migration. Migration is broadly segregated into two types – one is that of knowledge workers and the other is the unskilled labour force. The key segment drivers are migration and skilled/ unskilled labour force demand globally. The migration story is pretty strong and India is a strong base for both these categories. Also, India is the largest receiver of remittances globally, with more than $55 billion coming in annually from Indians overseas.