At the DTPS 24 event, the compelling keynote speeches stood out as a major highlight, drawing in partners, tech leaders, and IT experts. During his address, Devesh Rastogi, President, of FAIITA, proudly accoladed the association’s achievements saying that the FAIITA was founded to support the retail, wholesale, SI partners, and the entire IT industry, collectively on a national level. He noted that the association has successfully sustained the changing business models and challenges posed by the rise of online business in the country.
While addressing the entrepreneurs, Mr. Rastogi encouraged them to support and learn from each other and understand the management practices to survive in the long run.
The online business is the new reality of the world. In large-format retail, reliance has 18000 stores across India covering all the commodities, which is commendable.
Working as a member of the National Traders’ Welfare Board for the government of India, he observed that the IT sector got its required ‘oxygen’ as became a ‘necessity’ during the COVID-19 pandemic, while other sectors such as clothes and grocery were affected. Also, he invoked the present IT fraternity to understand and participate in the proceedings conducted by the government and the association as the scenario has transformed significantly since the introduction of the JAM (Jan Dhan-Aadhaar-Mobile) initiative. There are over 250,000 sellers in the government e-marketplace (GeM), with 73,000 in the IT sector. Last year, business on GeM exceeded ₹4 lakh crore, with IT and office automation accounting for nearly 20% owing to the new practice avenues.
The second challenge that needs to be addressed is maintaining adaptability in the Fintech industry, according to Mr. Rastogi. In this sector, retailers should be well-informed about all the essential technicalities. Also, he called upon the present partners and distributors to build trust in small businesses and grow together.
He also highlighted the IT sector, emphasizing the increasing demand for CCTV cameras and advancements in the education sector. These areas, he noted, require enhanced focus as they present with growing opportunities.
While announcing the upcoming FAIITA conclave in Delhi, he mentioned that the primary focus would be on MSME manufacturing and the Make in India initiative.
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