Pearl Academy of Fashion participated in the Indian Mecca for retail – India Retail Forum (IRF), the largest congregation of Retail industry professionals, brands and ideas to analyze, interpret and solve the contemporary problems and issues faced by Indian retail industry.
The 2011 edition of IRF was organized on the theme ‘Shopping for Retail Success’, where more than 3000 participants, 100 exhibitors and 200 speakers participated at the colloquium. Dr Tarun Panwar from Pearl Academy of Fashion participated as one of the speakers on the dais and presented his thoughts on ‘The Journey to Modern Retail.’
There has been a significant change in retail trading over the years; a transition has taken place from the traditional retail sector to organized retailing. The size of Indian retail at present is US $ 400 billion; by 2015 Indian business is expected to be worth more than US $ 720 million. With around 13% contribution to the GDP and 9% employment of the national workforce, retailing is undoubtedly a strong pillar of the Indian economy and a sector offering huge opportunities.
While addressing the most innovative and successful retail brands, companies and minds from across the globe Dr Tarun Panwar, HoD Pearl Academy of Fashion said, “Indian retail industry is on verge of a revolution, hence, the requirement for more skilled manpower is on the rise. Market liberalization and increasingly assertive consumers are sowing the seeds of a retail transformation that is bringing bigger Indian and multinational operators on the retail arena.
A sustained growth in the income and purchasing power of the Indian people has given a significant boost to the retail Industry in India. With the emergence of learned, fashion conscious consumers of India, retailers are ready to offer goods with aesthetic sense and fashion quotient. A lot of scope therefore lies for fashion retail business and professionals to manage the value chain, which also highlights the demand for providing platform to enhance the skill-set and knowledge to face the challenges of this booming industry.”
India Retail Forum was a unique event to attain deep understandings, learn, share and evolve with the leaders in the retail industry, explore out- of- the- box ideas, witness innovation in merchandise, spaces, IT and support systems, and celebrate outstanding achievements in the business of retail in India.