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The head of Pantaloon, Indias leading retailer, has warned that high property prices in big Indian cities are threatening the countrys burgeoning retail industry and adding to the pressures brought on by soaring construction and labour costs.

Kishore Biyani, chief executive of Pantaloon, told the Financial Times: At current property prices, you cant exist in the modern retail business.

Either productivity has to increase significantly or rent has to come down.

More : ft.com

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