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Retailers Association of India’s Retail India Summit and Expo brings together retailers across all formats to discuss “COLLABORATION: THE NEW BUSINESS IMPERATIVE”

Thursday, August 31, 2017, New Delhi: The apex body of retailers in India, Retailers Association of India (RAI), today organised Retail India Summit and Expo(RISE) 2017. Themed“Collaboration:The New Business Imperative”, the summit brought together key decision makers from across Indian retail industry to deliberate upon collaborations in the new business imperative.
“In order to cater to the constantly changing value perception of customers, retailers need to create propositions that also evolve rapidly. This cannot be achieved by standing tall and alone. Collaboration is the name of the game for them. They need to constantly seek value across the value chain or face the risk of being redundant. They need to collaborate for merchandise, people, resources, space, finance and technology to offer the best to customers. We, at RAI, constantly try to give retailers and service providers to the retail industry, effective platforms that they can use to look for potential partners and collaborate. RISE 2017 is one such initiative,” said Kumar Rajagopalan, CEO, RAI.

Delivering the inaugural address, Guest of Honour Shri Santosh Kumar Gangwar, Hon'ble Minister of State of Dept. of Finance, Govt. of India,acknowledged the contribution of retail to India’s economy and reaffirmed the government’s commitment to facilitate ease of business for retailers. Thanking retailers for readily accepting and implementing the Goods & Services Tax, he explained that the government was keen on helping retail grow in India.

 Retailers Association of India’s Retail India Summit and Expo brings together retailers across all formats to discuss “COLLABORATION: THE NEW BUSINESS IMPERATIVE”

While the Summit sought to equip retailers with insights on the current trends and paradigms in retail, the Expo served as the definitive platform to help retailers find the right business partners and solutions to help take their businesses to the next level.

Discussions at the Summit revolved around the following topics:
The Future of Retail: Emerging Technology and Store Formats
Creating Memorable Customer Experience: Together We Win
Omni-channel success through Digital Transformation
Trends and Innovation in Retail Real Estate

The GST session was one of the most appreciated as it helped retailers and tax profesionals in attendance understand the finer nuances of the Goods & Services Tax.
Expert Panelists included:
Rishabh Sawansukha, Founder, GST Street
Anil Bahl, Head-Indirect Taxes, Bharti Airtel Limited
Bimal Jain, Chairman - Indirect Tax, PHD Chambers
Vinod Jain, Founder, INMACS
Sujit Ghosh, Partner, ADVAITA Legal
JP Bajoria, Regional Operations Head – North India, Udyog Software
Arun Gupta, Founder, Win Over Cancer & Partner GSTStreet
CA. Utsav Dogra, GST Trainer and Consultant

Some of the insights shared by the expert panelists are as follows:
In GST, Application Service Provider will be the backbone for a company and all tax people.If a company’s ASP is good, it can’t go wrong with compliances.
Retailers may have to be prepared for their margins getting squeezed.
Retailers have the biggest advantage in the #GST regime.
The intention behind GST is right and phase 2 may smooth all the teething trouble.
For the first time, we are all looking India. This is a realistic advantage to all whether we do business in Kanyakumari or Delhi.
Trans -1 under GST should not be filed in a hurry.
Companies should get a good tax expert to examine all their records to ensure they do not miss out on Input Tax Credit.

Attendees also benefitted from A MASTERCLASS on Design Thinking Trends Curating Unique Store Experiences by experience expert Surender Gnanaolivu.

RISE 2017 proved to be a great learning and meeting ground for retailers in the region.

About Retailers Association of India:
Retailers Association of India (RAI) is the unified voice of Indian retailers. RAI works with all the stakeholders for creating the right environment for the growth of the modern retail industry in India. It is a strong advocate for retailing in India and works with all levels of government and stakeholders with the aim to support employment growth and career opportunities in retail, to promote and sustain retail investments in communities from coast-to-coast, and to enhance consumer choice and industry competitiveness.