The transformation of just 10% of the 13 million kiranas in India could boost retail consumption by more than 5% and generate approximately 3.2 million new jobs in the country, says a report jointly released by Accenture and Trust For Retailers and Retail Associates of India (TRRAIN) on Thursday.
Titled “Transforming Kirana Stores to Drive Economic Growth,” the report outlines a strategic approach for unlocking value by transforming kirana stores through a framework that focuses on store location, layout, technology, store funding and product placement.
The report puts the spotlight on the pivotal role of the kiranas in the community and the impact of their transformation not just on them and the industry, but also on India as a whole, as per am Accenture statement.
B.S. Nagesh, founder of TRRAIN said, “India is a nation of shopkeepers, and kiranas play a crucial role in the country’s retail sector, which in turn contributes nearly 11% of the nation’s gross domestic product and 8% of its total workforce.’’
“The transformation process needs to be expedited with comprehensive policy intervention, technology support, and, most importantly, a collaboration between key ecosystem players,’’ Sameer Amte, a managing director in Accenture’s Strategy & Consulting business in India.