Where will retail business be if e-commerce becomes very successful?
I don’t think e-commerce is going to be an important factor for everyday goods anywhere in the world, and that includes India. Yes, e-bay now allows all of us to participate in the gigantic backyard sale. That wasn’t the case earlier. E-bay might be successful, but an ordinary dot-com grocery-delivery company is not going to be a very important factor. You said that there are several pitfalls in India, which would make it difficult for the retail business to succeed. How come you still see a bright future for retail business in India. Yes, I do. But I think it is going to take much longer than many expect. I see a combination of factors that will make the growth difficult, like the income growth, the growth of the middle class and the development of infrastructure. But many retail entrepreneurs will enter the field. Foreign direct investment, too, will follow. But it is going to take time. Where do you place the Indian retail market in comparison to the markets of other countries? It i
