Organized Retail Must Work Together with Unorganized Retail Sector to Ensure Growth: Suresh Prabhu

The organised retail sector should not displace mom & pop stores but help create more employment opportunities besides offering wide range of products at reasonable price, Commerce Minister Suresh Prabhu said. 

Addressinga CII conference here, the minister said the government is in the process of making policies to boost growth of every sector, including retail.

He said the retail trade has a huge potential and this industry will play an important role in the growth of manufacturing, agriculture and even services sectors.

"Retail business must take into account the social issues. The organised retail should be done in a manner that it does not affect the social challenges. They should create more employment, should not displace the retailer who already are in business for years," Prabhu said. Organised retail should add value to the business and must create employment, he said, adding that they should provide customers varied choice and offer good price.