Bengaluru : Retailers Association of India (RAI), the apex body for retailers in India, today hosted Retail CFO Summit 2018 at Hotel ITC Maratha, Mumbai. The Event was partnered by National Payments Corporation of India (NPCI), the umbrella organisation for payment and settlements in India and the multinational professional services network, Deloitte. Themed around ‘Exponential Opportunities in Experiential Times,’ the summit witnessed a gathering of the finance heads and CEOs of retail along with other industry stakeholders to discuss how the evolution in consumer behaviour is changing the face of retail.

Speaking at the event, Kumar Rajagopalan, CEO, Retailers Association of India said, “The biggest driver of the change is the consumers’ need to consume ‘experiences’ in a dynamic environment. This, coupled with leaps in technology, and changes in policy environment are redefining retail as we know it. It’s a time for both opportunities and challenges; the retail CFO Summit set out to help retail professionals in India channel their resources and transform the challenges into opportunities.”

The CFO Summit is a definitive platform for the future-focused finance leaders that aims to equip retailers with the finance-related wherewithal to grow. The Summit was divided into special addresses by financial leaders of the industry, panel discussion on key topics, report launch and ignite sessions.

The key highlights included:

Panel Discussions –

1. Digital transformation – Should we dabble in it or go all in?
2. Managing Customer Loyalty and Engagement for the Omni-Channel Shopper.
3. Corporate Governance – Driving Performance & Business Value.
4. GST: Radical Reflections and the way forward.

Ignite Session –

Shailendra Mandrawadkar, Vice President-Enterprise Sales, Happay.

The Summit was the preferred platform for the release of the report ‘Retail FDI in India: Leaping Forward’ by Deloitte India and RAI.

India is one of the most lucrative retail markets in the world, making it a magnet for big retail brands from different countries. Many global brands have entered India and have seen encouraging results. However, entry into the Great Indian market has not been an easy ride for most retailers, thanks to the complicated Foreign Direct Investment (FDI) rules of the country. The report has been released as an attempt to bring clarity to the retail ecosystem about the FDI policy of India.

“There is a desperate need for retailers in the country to become world-class, and this cannot get done without the right kind of investment climate. While Indian retail needs foreign retailers to come into the country, there is a greater need for the government to create a level playing field by enabling them easy access to foreign funds. The RAI – Deloitte report, ‘Retail FDI in India: Leaping forward’ comes at an opportune time and is a short but comprehensive guide for those retailers who are mulling an India entry and for those who are exploring foreign tie-ups. We hope it equips them with all the right information they need to succeed in their FDI related endeavours,” said Kumar Rajagopalan, CEO, Retailers Association of India about the report.

The insightful discussions of the day uncovered several practical insights that the CFOs and retailers present at the summit can implement and succeed in the changing landscape of the retail business.