East India: The colonial touch it offers is a reflection of the glorious yesteryears, the feeling of nostalgia is still very much intact in this region.Geographically, it is one of the fi nest regions in India, the reason why the British, during the Colonial era, zeroed in on Calcutta (now rechristened as Kolkata) as their capital.
At one point of time many leading business houses and conglomerates were based out of Kolkata. Between 1960s and 1990s many large factories and business houses were closed due to a long standing tradition of trade unionism. The lack of capital and resources clubbed with political instability has resulted in the depressed state of the city’s economy, holding true for other cities of East India as well. Somehow, this is one of the main reasons why retail market of East India couldn’t grow to its optimum potential. Ho wever with the political scenario changed and people becoming more aspirational, transformation in the retail scenario has definitely arrived and one can say is here to stay.
East India is one of the most mystical and complicated markets in India, but there is no denying the fact that it is also one of the most potential regions in the country. The available opportunities in the region can be actualised only if ground work is done to facilitate the growth of demand and supply.
So in a quest to facilitate better understanding of the retail market of Eastern region, we bring this- ‘East focused’ special issue of IMAGES Retail. In this issue we have tried to encapsulate all the recent happenings and the market analysis of East India’s retail and retail real estate markets.
Needless to say, each and every brand that have recently ventured in the region are gung-ho! about its potential and so are we. East India will be the next retail destination of India and we all will be part of its retail journey. Together we will witness how Eastern India will regain its lost glory!