Union Budget must focus on policy alignment for retail sector: Arrow CEO
The upcoming government budget should focus on policy alignment for the retail sector. This will enable it to take advantage of the Indian consumer's increasing purchasing power, according to menswear brand Arrow’s CEO Suman Saha.
“The Union Budget 2023-24 comes at a very relevant time, as the nation needs the right set of incentives and support measures to accelerate its recovery,” said Arrow’s CEO Suman Saha in a press release. “The retail sector is a versatile industry and has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. This year’s budget must focus on policy alignment for the retail sector since the Indian consumer's purchasing power is increasing, and branded goods in categories like apparel, footwear, accessories, food, and even jewellery are gradually evolving into business and leisure that are well-liked by the urban Indian consumer.”
Saha is a graduate of the National Institute if Fashion Technology and a textile engineer. Saha also has over 19 years of experience in the industry, Arvind Fashions announced on its website.
“While physical or in-store retail is the dominant channel in this market, forms of non-store retailing are becoming increasingly popular too,” said Saha. “Online retailing or e-commerce channels are carving out a share of the retail sector in many global markets. Many retailers operate an omni-channel model, which aims to integrate offline and online channels in a seamless way.”
Arrow is run by Arvind Fashions and specialises in men’s dress shirts. Arrow arrived in the Indian market in 1993 and counts over 200 exclusive brand outlets in the country. The brand also retails from its dedicated e-commerce store.
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