Retail Sector in Tier 2, 3 cities Get Higher Investment

Retail sector in Tier-2 And Tier-3 cities has witnessed a much higher investment of $6.2 billion between 26 and 2017 as against $1.3 billion of the same in Tier-1 metro cities during the same period. Factor including lack of space in retail malls in metro cities increasing lease rent as in metro malls, and high land prices in Tier-1 cities have made it difficult for retailers to own real estate in metro. The Report Identified 20 cities including tier-2 cities such as Lucknow, Jaipur, Chandigarh, Kochi, Patna, Bhubaneshwar, Indore and Nagpur among the leading cities, as the next retail destinations in the country. The organised Retail should be done in a manner that it does not affect the social challenges. They should create more employment should not displace the retailers. There is need to understand complementarity between the so called organised retail and large scale retailers working in India from a long time. There was a need to provide poor craftsmen with an E-Commerce platform, adding that the e-commerce sector has the potential to create million of jobs and that the government is keen to ensure mobile connectivity across the country in this regards. The government was considering a proposal to set up a hub for exports of vegetables and fruits, adding that his ministry was in discussions with civil Aviation ministry in this regards.