Business Wire India
|Shop Image INR|
Hailing the directive from Central Board of Customs & Excise (CBEC) for Duty Free Retailers to display prices in Indian Rupees (INR); India’s largest Travel retailer – Delhi Duty Free is the first retailer to migrate to INR pricing and billing.
With this change, all product prices will be displayed in INR and billing will also be in INR. In line with a notification from Reserve Bank of India, the CBEC said passengers will be permitted to purchase goods at duty-free shops in Indian rupees up to Rs. 25,000. Though there have been no changes in duty free allowance limit which is Rs. 72,000 per passport.
This will be significantly beneficial for customers as they will be aware of prices upfront in their home currency, pay INR up to Rs. 25,000 by cash, card or wallets, have the option of paying in other leading global currencies and save on foreign exchange conversion charges.
Luke Gorringe; CEO –Delhi Duty Free said “We have been keen to introduce this for a long time. Although the changes involved significant restructuring of business processes; software & finance reporting, we managed to successfully migrate to the new process within a few days. This is good news for our customers as it brings transparency, simplicity and like other countries, they can pay in home currency and save on exchange rates conversion.”
Luke added “This will prompt Indian nationals to spend more and support latest payment mechanisms like wallet based payment, e-payments & contactless payments. This will greatly help foreign nationals’ as well. They are likely to save significantly on foreign currency exchange to INR for payments in top global currencies due cheaper exchange rates to money changer at Delhi Duty free.”
Delhi Duty Free witnessed record sales and significant sales growth for the previous calendar year. Deals on top sellers in Liquor, Perfume & Confectionery which are best in the region; innovative marketing campaigns & focus on staff training has led to significant growth in business during shop refits. The upgraded shops will be launched in a couple of months and customers can expect many new brands, experiential concepts and a world-class retail experience at Delhi.
You can find details of latest offers, new launches & other benefits at www.delhidutyfree.co.in
Delhi Duty Free Services Pvt Ltd (DDFS) was awarded the concession to manage and operate the Duty Free Shops at Terminal 3, Indira Gandhi International Airport in Delhi. DDFS is the single largest duty free retailer in India operating out of T3. DDFS shops are spread over 50,000 sq ft area in arrival & departure security hold areas.
The Company has three shareholders namely:
- Delhi International Airport Private Limited with 49.9% shareholding.
- Yalorvin Limited with 33.07% shareholding
- GMR Airports Limited with 17.03% shareholding