The concept of Retail School will be first-of-its kind in India for imparting retail education, training and adoption of modern business techniques amongst unorganized sector of the Country; will be operated in a way to strengthen traditional retail structure to upgrade and modernize the existing unorganized and retail sector and to respond to its requirement.
In the backdrop of globalization and economic liberalization policy of the Govt., the CAIT seeks to promote and grow the Retail Sector in India by providing modern business skills to traditional retailers to make good use of human capital already existed in trading sector. It is focused to cover not only the metro cities but will also cover small cities, towns and villages across the Country.
Being a distinguished revolution keeping into consideration the changes being brought by the Government in various Laws and Acts governing trade and changes in global business scenario, the unorganized sector which should more be called as self organized sector which needs to be given adequate education in order to update the experienced small enterprises to transform their existing business in to modern format of business since both manufacturing and trading is becoming more competitive and challenging and needs quality education amongst the enterprises to achieve success in their business enterprises.
The unorganized sector accounts for around 10% of the GDP with more than 5 Crore small and medium enterprises, shopkeepers, self employed persons and more than 20 Crores people dependent upon them throughout the country excluding low cost kiosks, push cart and foot path vendors.
As far as the retail sector is concerned, India has the highest density of retail outlets in the world – for 1000 persons there are 15 retail outlets in India. The overall size of retail market in India at present is estimated at Rs. 15 Lakh Crores. About 4% of the retail trade is in the so called organised sector and the balance 96% is in unorganized sector.
In its Retail School project, the CAIT will hire best faculty of eminent trainers to impart knowledge about inland and global market and to make best use of information technology in business and to develop business skills to manage their infrastructure efficiently in relation to buying and merchandising. The faculty will also impart knowledge about increasing the survival rate of businesses by focusing on opportunities inherent in these enterprises.
The unorganized sector across the Country make magnificent contributions to the economy both in terms of money income and other tangibles as time, flexibility, control and personal expertise. It add the realities of family life to traditional business ethos, expanding the range of issues, personalities, needs and potential solutions for each decision. Knowing something about consumer behavior, communication patterns, managerial styles and the amount of support members can expect from their own family may be as important to entrepreneurs as knowing how to reach a market or managing cash flows.