Kishore Biyani is an Indian businessman. He is the founder and chief executive officerof Future Group. Biyani's net worth is valued at $1.3 Billion... (wikipedia)
We believe that in India we have the opportunity to grow for the next two to three years. We believe at the moment consumers are feeling psychologically stronger than they ever were to spend.
If we provide people with an occasion to shop, they will come, whether in the cities or in the small towns.
We have learned that if we provide people with an occasion and an excuse to shop, they will come.
Why do we want to give them easy access? The 'Wal-Mart effect' is well documented.
We are assuming India will grow, that we are going to have a lot of young people who will want to shop. But everything can change overnight.
There's a tearing hurry. We should be large enough before anybody comes in - whoever that may be. We learned from them that you can sell utensils and fashion together.
It's not so easy to get people in smaller towns to spend money, but they still come to the store, all dressed up with their families. It's an outing for them.
It's not a matter of can we take on foreign retailers, but how big a gorilla you are.