India, Oct. 26 -- India's retail transformation is one of the most visible expressions of its economic progress. A consumer can now purchase groceries within minutes, compare thousands of products on a mobile phone, pay digitally, track delivery and seek a refund without leaving home.
At the same time, the neighbourhood kirana, street vendor and traditional market continue to serve millions of families, provide informal credit and sustain livelihoods in almost every town and locality.
These two Indias need not become adversaries. Yet without thoughtful regulation and responsible competition, the race for speed, scale and market share could produce a retail system that is convenient for consumers but progressively inhospitable to small ent...