Bharat Entrepreneurs

Just think of the following companies for a second. Tata group, Reliance, Bharti group, Aditya Birla group,etc. The industries that come to your mind would be Petroleum, Automobile, Electronic goods, Telecom etc. But now, these giant companies have entered into retail market with a lot of investment. The untapped potential of retail Industry in India and the govt approval of foreign direct investment of upto 51% in retailing have created a scuffle among the giant business houses to became a part of Retailing gold rush.

“There are 350 million people in India who are classified as middle class. That’s bigger than America…and when you start getting wealth, you start demanding better nutrition and better food.”

George W Bush, on the Indian Middle Class.

Nearly 35 crore middle class people are living in India with nice salaries and good job resources within reach. The rising affluence of the middle class, with both husband and wife getting sizable income, implies an increase in the purchasing power of the common Indian. Now every one wants value for his money. Majority of Indian population are hardly compromising with the quality and are expecting better ones even at more cost. Shopping in organized retail outlets is a better option to ensure quality of products. At the same time their mind set has been tuned towards entertainment and luxuries. They are treating shopping as an entertainment as they can find everything there. They can also enjoy varieties of tastes in food-courts. More over quality guarantee will be there as these companies are trying to increase their brand image in retail world.

Reliance industries also entered and launched its stores, in a combination of formats from convenience stores to specialty stores and super markets to hyper markets. Almost everything can be retailed like fresh produce, apparel, life style, foot wear, groceries, consumer durables , farm products, etc. Kisore Biyani is in a plan to start 225 Big Bazaar stores all over India.

Not only these, many other firms like Magna Hyper market, Subhiksha, Heritage foods new market, Super Valu etc… are also trying to penetrate into the retail market.

Attracting Middle-Class:

By giving discounts on every thing they purchase, these markets are making the customers to come again and again. Lucky draws and gift coupons are added attractions.

A part from these many co-operative stores have been able to hold its own against the competition and the quality of services & the range of store keeping units had suffered a lot in the process . Moreover some companies like Reliance, ITC, Hindustan Lever are bringing fresh vegetables, fruits & grains directly from the farmers. This is a positive sign for the farmers’ growth as this direct process avoids the involvement of the mediators who rely on farmers by cheating. Because of this Retail Boom more vacancies are creating every year and Reliance announced that they will eventually, directly employ around 10 Lakh people. So we have to accept this as a good sign in Retail field.

It remains to be seen how profitable the yet untapped retail market in India would be for these Big Indian Companies.

Popularity: 8%

Mukesh- who? Obviously Ambani; No? Then must be the versatile singer we had.

Anil-Oh! Come on, there can be only one who goes around by that name and turns heads-Anil Ambani

Rahul—hmmmm? Dravid? History? Gandhi!!!! Yea, you said it.

Sonia- of course, the inevitable Gandhi, you silly.

Yes all these names ring an obvious bell or remind of another name not too far behind. There are several others like this. Because, day in, day out, you see them on TV, or read in the Press.

But now try recalling the name Chandru- Aha! Caught you there. Oh yes, the recently appointed Chairman of SEBI? Oh, excuse me, the ex-chairman of selectors for BCCI, Chandu Borde. No way. I asked Chandru and not Chandu.Ok, keep guessing. But suppose I tell you Chandru Raheja? What??? Where does he fit in? Of Course Rahejas, we know. But Chandru???? No way. Show me one Picture of his. Mention one venture by him…….hmmmmmm…….. give me time.

Now switch to Shopper’s Stop., In Orbit Malls, Hyper City, Mind space. Yes, ring a bell?

I don’t blame you. This is a case where the creator is obscure but the products are better known. Welcome to the world of Chandru Raheja, the Chairman of K. Raheja Corp, promoters of Shoppers Stop, Hypercity, In Orbit Malls etc. This 60-something, reclusive gentleman ranks 368^th in the Forbes’s list of top 500 Billionaires. With an assessed wealth of $3 billion (Rs 12000 crores.)

Mr. Chandru Raheja is credited with the upswing of Shoppers Stop, the pioneer chain that set off the Retail Boom in this country, even before Kishore Biyani came up with the Big Bazaar blitzkrieg. Totally media-shy, Shri Raheja is reputed for his far-sighted visionary zeal and the absolute faith he has in his trusted lieutenants. He is seldom heard to have changed his generals. If Rahejas are a name in Retail and realty, Chandru Raheja is the brain behind the success.

In a world where even the teenage son of a business giant flaunts his pedigree in designer clothes and jelled-up hair style when his dad launches an Airline, or the wives of business magnates suddenly become established social workers and the third Page of any paper is viewed with disdain if the faces of a few of these spouses are not grinning away at you, Chandru Raheja breathes in a whiff of fresh air, unpolluted and fragrant. But with the media attention already zeroing in on him, thanks to the Forbes ranking, the day may not be far off when we have Chandru Raheja “walking the talk” or being in the “Cross fire” of some TV journo or the other.

But, anonymity or not, let’s not fail to give the due credit to this gentleman-business man who ushered in the era of Retail boom and Mall culture, even before they were introduced in our neighbourhood.

Popularity: 25%