Chennai: Real estate developer, SPR Group, has announced that it has signed a memorandum of understanding (MOU) with Chennai Apparel Association (CAA) to set up 100 shops in Market of India (MOI).
The MOU was signed by SPR Group MD, Hitesh Kawad, and CAA president, Bharat Sarda, in the city on Monday.
A release said the 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 Jaquar Group and MOI for the setting up of an experience centre at the market.
MD, SPR Group, Hitesh Kawad, 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.”
CAA’s association with Market of India is expected to provide a global opportunity for all its member organisations 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 organisations from other verticals which will be lined up in the next few months, said the release.