IBPC hosts signature event ‘Retail Conclave 2023’

DUBAI: The Indian Business and Professional Council (IBPC) hosted its signature event Retail Conclave 2023 at the Anantara Hotel Downtown. The topic of the event was ‘Digital Transformation and Sustainability in Retail’.

The event was timely, coming as it did on the heels of COP28, where a landmark UAE ‘Consensus on Climate Change’ was adopted by nearly 200 countries.

Extending this to the retail sector is important, and indeed essential, as this is the sector that sees the most interaction between us as consumers and the millions of products and services that we seek daily. No other sector comes close, which underlines the importance of sustainability in retail.

Mr Suresh Kumar, Chairman IBPC, welcomed the gathering and in his key note address narrated about digital transformation where sustainability is no longer simply an option, but a strategic imperative for retail success.

H.E. Shri Satish Kumar Sivan, Consul General of India in Dubai, emphasised that the intersection of digital innovation and sustainability will determine the future of retail.

Special guest of honour, H.E. Dr. Mohammed Al Kindi, former UAE Minister of Environment and Water, addressed how digital transformation is empowering retailers not only to optimise operations but also to champion sustainable practices that resonate with conscious consumers; it is a commitment to leveraging digital advancements for a greener, more responsible industry going forward.

Representing the Indian diaspora, IBPC Dubai honoured Dubai customs represented by H.E. Ahmed Mahboob Musabih, Director General of Dubai Customs, CEO of Ports, Customs and Free Zone Corporation for Retail Facilitation in all the aspects of doing business in Dubai.

Thanking for the honour, Director General of Dubai customs mentioned the digital developments and benchmarking the quick and timely processing systems for ease of business.

H.E. Ahmed Mahboob attended the full session and appreciated the panel discussion moderated by Dr. Sahitya Chaturvedi, the convenor of IBPC and accounts head of Ajmal Perfumes.

The conclave awarded the retail recognitions to CEO of Ajmal Perfumes Group Abdulla Ajmal, Chairman of famous jewelry brand Joy Alukkas and the director of Lulu Group International for their path-breaking work in the retail sector.

Presenting the social economic facts, Dr. Sahitya said that 83 percent of UAE consumers are more likely to shop with retailers who use technology to improve the customer experience.

He further highlighted the growth contribution of Dubai in the entire GCC and opportunities unveiled by D33, the vision of doubling the size of Dubai economy to AED 32 trillion with the growth drivers of digital economy and going green and sustainable.

The thoughts were echoed by Prof. Adil Matin, President of WeTel Center for Sustainability, followed by a panel discussion with very high senior officials from the retail industry including Vikas Chadha, Jumbo Electronics CEO; Rajiv Warrier, T Choithram & Sons CEO; MVK Vijaykumar, Director for Digital Transformation at EY; Joseph Eapen, MEA Head at Asian Paints; Ashish Panjabi, Jacky’s Electronics COO; and Prateek Vahie, Chief Commercial Officer of WIO Bank, who shed light on the challenges and benefits to organisations from their involvement in digital transformation, and also on imperatives and progress on sustainability in retail.