India’s vast and expanding market is undisputed and has opportunities for nearly all types of industrial activity and services, said Kazem Samandari, Executive Chairman, L’Opera.
“The market segments we are addressing today, comprising consumers with growing purchasing power, represent an attractive opportunity for almost all types of business activity and services,” he said.
Samandari noted that so far, the demand in India extends from the lower end which are simple and unsophisticated customers for products and services to the very top who are exclusive or luxury end of the market, Samandari said. “You can visualise this by thinking from the street vendors up to the malls, which we mentioned earlier,” he noted.
Furthermore, the Indian market is far from reaching saturation indicating that there are ample opportunities for new initiatives in almost all areas of business.
Therefore, the window for developing and producing new products and services remains wide open, and there is no need to miss out on such opportunities, he added.
While addressing the challenges of ‘brick and mortar’ retail activity in India, Samandari said, “In my opinion, one of the most critical factors is the availability of retail space commensurate with their exploding demand, compared to more organised markets.”
The available retail space is absolutely inadequate and not in sync with the growing need of the retail sector, he said.