Retail

The Indian Retail industry is the fifth largest in the world. Comprising of organized and unorganized sectors, India Retail industry is one of the fastest growing industries in India, especially over the last few years. Traditionally the Retail industry in India was largely unorganized, comprising of drug stores, medium, and small grocery stores. Most of the organized retailing in India have started recently and is concentrating mainly in metropolitan cities.

Retail market in the organized sector in India is growing can be seen from the fact that 1500 supermarkets, 325 departmental stores, and 300 new malls are being built. Many Indian companies are entering the Indian retail market which is giving Indian organized retail market a boost.

In 2007, the retail trade in India had a share of 8-10% in the GDP (Gross Domestic Product) of the country. In 2009, it rose to 12%. It is also expected to reach 22% by 2010. By the same time, the organized sector will be 20% of the total market share. It can be mentioned here that, the share of organized sector in 2007 was 7.5% of the total retail market.

Few Challenges faced by Indian Retail industry are the tax structure in India favors small retail business, Lack of adequate infrastructure facilities , High cost of real estate, Dissimilarity in consumer groups, Restrictions in Foreign Direct Investment, Shortage of retail study options ,Shortage of trained manpower ,Low retail management skill .

ENAM is perfectly placed to help you understand and manage these risks. We can advise you on risk management and risk transfer solutions available to the Retail sector, and work with you to tailor insurance policies to respond to specified risks.

ENAM Risk Management Strategy

Assistance in determination of the objectives of the client company
Advice on specific and detailed risk identification, analysis and assessment
Selection of the risk treatment devices or appropriate covers from the market
Arranging for risk transfer with optimization of covers at best possible quotes
Prompt claims facilitation, cooperation and provision of technical expertise.

To know more, please feel free to write to insure@enam.com

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Enam Insurance Broker is regulated by Insurance Regulatory and Development Authority; License Code: DB – 340/06’