Speciality retailers going slow on India plans

The Indian retail market is attracting a lot of supermarket and hypermarket companies to open up shop here, but specialty store retailers are still not keen on opening their stores in the country till the time that FDI rules are changed. Specialty retailers that will stay away are Gap, H&M, Zara, Office Depot and Target. One of the main reasons that specialty retailers are not rushing to open in India is given by Akil Hirani, managing partner of law firm, Majumdar & Company, who says that “In the retail business, companies tend to develop certain internal intellectual properties, which they are not comfortable sharing. If a company has to franchise its business, it will have to share some critical information and data with the franchisee.”