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    Ill-planned malls likely to go out of business

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    “Growing retail industry in India will see a phase of consolidation in the medium term, while ill-planned malls are likely to go out of business,” managing director (Kolkata market) told the media.

    “There is huge potential for the retail sector in the country since India is a large economy and 97 per cent of the country’s retail trade is still in the unorganised sector,” he added.

    Das insisted that there is no issue of small or big players; a small player with an outstanding mall in terms of design, positioning, tenant mix and value proposition would always do better than a large player with a below-average mall, ill-designed and with poor value proposition.

    With the country’s economy projected to grow at a rate of nine per cent per annum, there would be gradual shift of the retail business from unorganised to organised sector, he said.

    The sector would continue to attract investments in the next five years, he said, adding that there was no scope for deceleration in the growth of the industry in the country.