SPR Group, a leading real estate developer in India, signed a Memorandum of Understanding (MOU) with Chennai Apparel Association (CAA) to set up 100 apparel shops in Market of India (MOI). The MOU was signed between Mr Hitesh Kawad, Managing Director, SPR Group, andMr. Bharat Sarda, President, CAAin the city today. The MOU signing was held as a part of the ongoing efforts to unite the trade industry from different verticals under one roof. Prior to this, a similar MOU was signed between the Bathroom and lighting giant Jaquar Group and MOI for the setting up of an experience centre at the market.
Following the successful signing of the MOU with CAA, Mr Hitesh Kawad, Managing Director, SPR Group said,
Market of India has the potential to transform the country’s business landscape and is all set to become a leading trade destination in the future. Towards this vision, we have been relentlessly working to bring onboard traders from across the country. Today, this MOU between the largest apparel association in TN and Market of India marks a major milestone in fulfilling the vision of making India one among the top trade destinations in the world, rivalling the likes of China.
In a joint statement, Bharat Sarda, President, CAA and Mr Ramesh Bisani, Member of CAA said at the event, “Chennai is the largest garment consumer market in the country recording the highest sales of all types of garments. In this hub of textiles, the upcoming ‘Market of India’ is going to be a landmark in itself. By setting up 100 textile shops, we will ensure that all types of and all strata of garment manufacturers & retailers will be presented under one roof and thus will boost business growth in the sector.”
Jadgeesh Sarda of Smart Ventures added, “Market of India will easily be the largest wholesale market in the country. In the near future, it is bound to be the preferred address for global and national brands and businessmen. The association between CAA and MOI will allow textile traders in the state to tap into the business potential presented by the global platform that the market offers.”
SPR Group is the developer behind Market of India, India’s largest wholesale market with 5000+ shops and offices. Built to overcome the current trading challenges witnessed in unorganized traditional Indian markets, the wholesale centre provides a cohesive marketplace for business and is expected to rival the biggest trade centres in China. Providing world-class infrastructure, warehousing, logistics, supply, and trade ecosystem, Market of India is expected to transform India into a trade destination and will provide enable traders in India and South Asia to expand their business.
CAA’s association with Market of India is expected to provide a global opportunity for all its member organizations to expand their business presence and reach. To benefit traders from all corners of the country, SPR Group now plans on forming similar associations with representative organizations from other verticals which will be lined up in the next few months.