The Confederation of Indian Industry Northern Region recently hosted the CII (NR) Retail & Omnichannel 2022 event, where Tradewind Finance participated as a contributor and sponsor. A major focus of the event was retail’s role in propelling India’s economy to the $5 trillion mark.
During the virtual conference, it was reported that the retail industry will contribute $1.3 trillion to India’s overall economy by 2025. It is a rapidly-growing sector of the economy, driven in part by increasing income levels and family populations. The industry accounts for 10 percent of India’s GDP and 8 percent of its employment.
As part of the section titled “CEOs Forum: Driving the Future of Digital Supply Chain,” Peter Maerevoet, CEO, Tradewind Asia, shared insights regarding nearshoring’s increase in traction. He noted, however, that it is still limited. According to Maerevoet, those who choose nearshoring often employ a hybrid production method. In addition to taking advantage of cost-saving opportunities overseas, these brands are setting up regional distribution centers to cater to local consumer preferences.
The credit-insured financing from Tradewind is consistent across supply chains, reducing insolvency and other trade risks for buyers and suppliers. Retail’s flourishing sector needs the cash flow solutions of a finance provider whose local and global presence will facilitate growth in the Indian industry. Working capital additions will also allow these companies to invest in broader priorities, such as sustainability initiatives.
Coca-Cola India and Pepe Jeans were notable sponsors for this event, which was attended by major retailers in India.