Leading the Future of Retail Finance: RAI Retail CFO Summit2024 Establishes New Growth Standards

Mumbai, August 23, 2024: The Retailers Association of India (RAI) successfully hosted  the ‘Retail CFO Summit 2024’ in Mumbai on August 22, 2024. This prestigious event  brought together an array of CFOs, CEOs, and finance leaders from across the retail  industry. The summit centered on the compelling theme: New CFO Checklist: A  Roadmap for 10x Growth. 

As the retail landscape continues to evolve, the role of the CFO is becoming increasingly  critical, with a strong focus on embracing digital innovation, ensuring economic  resilience, and driving sustainable growth. The ‘Retail CFO Summit 2024’ provided a  platform to explore these essential elements, offering industry leaders a unique  opportunity to exchange ideas, learn from best practices, and strategize for the future. 

Throughout the day, engaging panel discussions addressed key topics aligned with the  summit’s core theme. Noteworthy sessions included in-depth discussions on the  strategic role of CFOs in advancing digital transformation, strengthening leadership and  human capital, navigating regulatory compliance and risk management, and crafting  future-ready financial strategies. 

The event underscored the importance of forward-thinking financial leadership in  driving exponential growth and preparing the retail sector for the challenges and  opportunities ahead. 

Speaking about the Retail CFO Summit 2024, Kumar Rajagopalan – Chief Executive Officer,Retailers Association ofIndia (RAI), said,”As the retail sector undergoes rapid  transformation, the role of the CFO is not just to manage finances but to spearhead  innovation, ensure resilience, and drive sustainable growth. The integration of advanced  technologies is becoming indispensable, as it allows CFOs to create strategies that align  with evolving market dynamics while maintaining robust regulatory compliance. Today’s  retail CFOs must balance financial performance with environmental responsibility,  ensuring that their organisations are not only profitable but also sustainable in the long  run. This summit is a testament to the critical role that financial leadership plays in  shaping the future of retail.” 

The summit boasted a stellar line up of speakers, including Amit Agarwal, Group CFO,  Raymond; Anand Agarwal, CFO, V-Mart Retail; Anish Jhaveri, CFO, Spykar Lifestyles;  Girdhar Chitlangia, CFO, Arvind Fashions; Jayesh Patel, CFO & Head – Logistic, Globus  Stores; Kaushal Parekh, CFO, Metro Brands; Kiran Shinde, CFO, PMJ Jewels; Naveen  Golchha, CFO, Apparel Group India; Pramod Dangaich, CFO, Infiniti Retail (Croma);  Rajesh Annamalai, CFO (Ethnic Business), Aditya Birla Fashion and Retail; Rajesh Mohta, CFO, Specialty Restaurant; Sameer Patel, CFO, Restaurant Brands Asia (Burger  King) among many others. 

Throughout the day, engaging panel discussions addressed key topics aligned with the  summit’s core theme. Noteworthy sessions included in-depth discussions on topics like New CFO Checklist – A Roadmap for 10x Growth; Green Growth and Sustainable Development; GST 2.0 – The changes and challenges for taxpayers, Leveraging AI and  Automation for Financial Efficiency, Strengthening Regulatory Compliance – Beyond the  Basics, to name a few.  

Speaking about the retail industry outlook at the summit, Hrushit Shah – CFO, Westlife  Food World Ltd., said, “The retail industry is at a crossroads where financial leadership  needs to evolve to meet the challenges of a digital-first world. Our focus must shift towards  integrating technological advancements with financial strategies to enhance efficiency  and foster growth. This summit highlights the need for CFOs to lead with agility and  foresight, ensuring that we not only navigate uncertainties but also capitalize on emerging  opportunities.” 

Kiran Shinde – CFO, PMJ Jewels, said, “In the dynamic retail industry, the ability to  navigate complexities requires a deep commitment to financial excellence and innovation.  As CFOs, we are uniquely positioned to steer our organizations through the challenges of  today’s market by leveraging financial insights to drive strategic decisions. Our role is  critical in ensuring that our companies not only adapt to changing consumer behaviors  and economic conditions but also remain resilient and poised for future growth. By  fostering a culture of innovation and embracing new financial tools, we can lay the  groundwork for long-term success in the retail sector.” 

Anand Agarwal – CFO, V-Mart Retail Ltd., said, “In the rapidly evolving retail sector, the  role of the CFO has expanded beyond traditional financial stewardship. Today, we must be  at the forefront of driving industry-wide innovation, harnessing technology, and utilizing  data analytics to make informed decisions. Our responsibility is to ensure not just the  financial stability of our organizations, but also to anticipate and adapt to market trends,  enhance operational efficiency, and create value for customers. The future of retail will be  shaped by those who can seamlessly integrate these elements into their strategic planning,  ensuring sustainable growth in an increasingly competitive environment.” 

RAI’s Retail CFO Summit has established itself as a pivotal annual event for the retail  finance community, providing a platform to explore opportunities, discuss industry  reforms, and share best practices on achieving rapid yet sustainable growth. 

About Retail CFO Summit 

Factors like leaps in technology, rise of digital channels, entry of foreign players and  increase in business costs are all affecting a company’s financial health. They are raising  new challenges for Chief Finance Officers (CFOs) who have to not just mitigate the risks and ensure profitability but also adopt to the changing roles. RAI’s CFO Summit focuses brings together CFOs and other finance professionals in retail and CEOs to discuss all that matters in achieving sustainable business growth. cfo.rai.net.in 

About RAI 

Retailers Association of India (RAI)is the unified voice of Indian retailers. RAI works with all stakeholders to create the right environment for the growth of the modern retail industry in India. It is a strong advocate for retailing in India and works with all levels of government and stakeholders to support employment growth and career opportunities in retail, promote and sustain retail investments in communities from coast to coast, and enhance consumer choice and industry competitiveness. 

Visit: www.rai.net.in | Follow on Twitter: @rai_india 

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