The formal economy has no challenges from GST: Kishore Biyani, Future Group

What is the state of the economy and how is the Future Group faring?

India is in an interesting phase. People are consuming much more than what the previous generation has ever consumed. We are in the space of food, fashion and home which are areas of consumption and we have reached a certain size and scale.

We are now operating in every city of India, every town of India and probably every state of India. We influence people all across the country. A lot of work has gone on in the last 25-30 years to build this organisation and now it is all about how to use technology to create your own capacity and much higher capacity is what we are doing.

Things are settling down as far as GST is concerned. On the Future Group on the whole what is the impact across your businesses?
Modern retail as a formalised business did not have much challenges. We had some challenges very early in the days on supply chain but that has corrected a long time back. The formal economy is not going to have major challenges or any challenges because of GST.

In terms of HyperCity, what is the plan as you move ahead? Analysts are also saying it would add about 8% of revenues and help you get a larger target area. How will it pan out from now on?

It is a very good asset. We will have 19 stores to start and add another three stores. Once we get the regulatory approvals, we will love to engage more and more with HyperCity, bring FBB into it first and look at increasing the business of the current stores.

source:https://economictimes.indiatimes.com/markets/expert-view/the-formal-economy-has-no-challenges-from-gst-kishore-biyani-future-group/articleshow/61483819.cms

Related Posts