The Indian Institute of Management, Indore (IIM-Indore), and Retailers Association of India (RAI) have signed a memorandum of understanding (MOU) to set up a Centre for Retail Education and Management (CREAM) at the institute to develop quality manpower for the rapidly growing sector.
“The MoU was inked by IIM Indore Director SP Parashar and the Association CEO Gibson Vedamani,” a spokesperson from IIM Indore told Indiaretailing.
The centre will be a source of research, training, consulting and executive education programmes for the retailers in India. “It’s a revolution that is taking place in the retail industry and it will be successful only when it is backed up by trained quality manpower,” informed Parashar.
“The apprehension that small retailers would be wiped out due to the growing competition is not based on real assessment as there is enough scope for all types of retail formats to co-exist in India,” Vedamani asserted. “There is a need for a 2.5-million strong manpower in the retail industry,” Parashar added.
The institute plans to launch the programme on retail management in September.
– Vishnu Rageev R, Bangalore Bureau
