Retailers Association of India (RAI) Launched Postgraduate ProgramNews »
Retailers Association of India (RAI) Launched Postgraduate Program
In the next three years, India would need 2.2 million people in the retail sector, of which organised sector would account for nearly 10 per cent of it. But when it comes to south India, the requirement would be in the region of 30 per cent.
Sensing the potential in the much neglected retail sector, the Retailers Association of India (RAI) has launched a Postgraduate Program in Retail Management (PGPRM) in select 15 Business schools in different parts of the country.
The 18-month program would consist of 12 months of classroom training and six months of internship.
Students have to undertake a Common Admission Retail Test (CART) to prove their ability and interest.
Around 2,500 students of different disciplines are expected to appear for CART, of which only 1,500 students would make it.
“While manpower requirements are plenty in the functional areas of retailing, in India we do not find qualified people to perform these functions in adequate numbers.
Management talents are too few and very hard to come by. The real challenge in the coming years is employment of manpower to the space available in the organised retail.
Hence, we have designed this course,” said RAI chairman B.S. Nagesh.
RAI chief executive officer Gibson G. Vedamani said they conducted the program on a trial basis in three Business schools with 120 students. The success made them to enlarge the scope and prepare the course content. Each B-school will set aside 100 seats and two faculty for this program.
It would cost a student anywhere between Rs. 2.75 lakh and Rs. 4 lakh depending upon the infrastructure provided by the B-Schools concerned.
Mr. Vedamani said “the first week would comprise the Foundation course, wherein the stalwarts would enlighten the students on what happens in the Indian retail sector and which direction it is headed to. On Saturdays and Sundays, they will be given industry exposure.
We would conclude the course with a 15-day Retail Yatra, taking them to different malls in different cities to explain them the work culture.”
B.A. Kondandarama Setty, RAI founding director and Vivek chairman and managing Director, said the establishment of RAI fulfils the long felt need for creation of an organised body for the retail sector, while the course would solve the problem of non-existence of professionals.
P.K. Mohapatra, Chennai Business School Governing Council Member, said “we would ensure that the students are made industry-ready from day one. The first batch of 1,500 students have been already been placed.”