Press Release
For Immediate Publication

~’Food Retail is the best business in India’, says retail guru, Kishore Biyani ~ 
Food Forum India 2009 concludes on a positive note

Mumbai, March 20th, 2009: After a power packed evening of glitz and glory the second day of the Food Forum India 2009 saw the stalwarts of Indian retail like Kishore Biyani, Founder & CEO, Future Group, Thomas Varghese, CEO, Aditya Birla Retail, Ashok Bhasin, MD, Wadhwan Food Retail, Damodar Mall, Customer Director, Future Group discuss some key topics like economic downturn, efficient infrastructure for fresh produce, consolidation in retail industry and catering businesses.

Addressing the gathering of esteemed industry players at the Food Forum India 2009, Kishore Biyani, Founder & CEO, Future Group commented, “Food business in India has been the least affected by the economic downturn. It is so far the safest business with a size of $200 bn. The growth in consumption is higher than the GDP growth. India’s is a consumer centric economy which throws a lot of opportunities for retailers to grow and thrive.”

Providing an optimistic viewpoint on the slowdown, Mr. Biyani added that the correction seen in various sectors is a healthy one. A right business model which engages the consumers and generates maximum productivity is the key to success. He also reiterated that consolidation is inevitable in the retail industry given the current economic scenario.

The retail guru also elaborated on Future Group’s growth plans. He explained, “The group has launched many private brands in the last few years which have been very successful. Going forward we plan to leverage on the private label model and launch many more products in different categories which fit modern retailing.”
On the sidelines of the Food Forum India 2009, IMAGES Group released key highlights of the India Food Report ’09, to be launched shortly. The Report points out that the annual private consumption expenditure on food, grocery and beverages is currently estimated at Rs 9, 400, 00 cr, in which organized retail contributes a nominal Rs 15,000 cr. This, the Report asserts, explains for the vast potential and promise this sector holds out for investors.
The report presents a detailed analysis of the Indian market with brief overviews of the global scenario as well. It dwells into consumption trends across various regions, foreign investment norms in the F&B market and government initiatives on food parks, abattoirs and cold chains.
Expected to be a path breaking compilation, the Report addresses all issues and challenges of the Indian food industry from farm to fork: from food production to captive farming, packaged and processed food, food and grocery retailing, and finally the Out-of-Home food, Quick Service Restaurants and Catering business.
Most importantly, the India Food Report ’09 discusses at length the vital support systems that include logistics and supply chain management, and also list out all major players in the Indian Food Industry – producers, brands, F&G retailers and food caterers. With all these ingredients for success, the sumptuous India Food Report ’09 promises to dish out a gourmet treat.
The Food Forum India 2009 (FFI) also attracted involvement of international experts sharing their thoughts on topics like International Quality Assurance and Food Safety Benchmarks. The panelists discussed the importance of applying for global certification standards that has proven to be very successful and efficient not only to protect consumers but also to develop sustainable farming models. Gurender Kapur, President and Chief Executive, Food Business, RIL commented, “The consumer has to be assured that the product they are buying is hygienic and fresh and it is very important for the retailers to deliver on that promise.”

The grand finale of the two day event saw major food brand and retailers such as Food Bazaar, Wadhwan Food Retail, HUL, Spencers Retail, ITC, Dabur India, BPCL, PepsiCo India and BPCL deliberating on ways to innovate and re-invent brands, strategies to run an efficient food chain and the way ahead for food industry in India.

 
For more details please contact: Payal Raj/ Tushar Gandhi/ Tejal Deshpande, Vaishnavi Corporate Communications at 09867035865/ 09987069281/ 09987069285