Where I'm coming from, as far as India is concerned, its still too early to tell. Apart from IT being the flavour of the month, it remains on the the horizon here. But there are positive signs, he concedes. Retailing hasn't actually changed all that much. We're still stuck with the small retailer.
Real estate is expensive.
Yes, companies are getting in, but in a piddley sort of way. Three years ago, when Godrej applied for permission for a joint venture with Macro, it was turned down. Last year, Macro got approval for a 100 per cent set-up. You have to have numbers. Actually, what we need is lower prices.