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Large retailers form association
By Our Staff Correspondent
MUMBAI, SEPT. 28. In a significant development for the modern Indian retail sector, leading retailers of the country have come together to form the `Retailers Association of India' (RAI) — the first independent body of retailers in India.
The RAI constitutes 25 founding members and includes retailers such as Pantaloon India, Shoppers' Stop, Trent, Globus, Piramyd, RPG Retail, Vivek's and Subhiksha. The RAI has appointed Gibson G. Vedamani as the first CEO of the association.
"The retail industry today has no single voice, standards or representation. Surely RAI is a welcome step so that all members, especially the new and growing ones get guidance and there are certain standards, code of conduct and benchmark for all of us to emulate and follow,'' said B. S. Nagesh, CEO and Managing Director, Shoppers' Stop.
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