The Indian Retail industry is all set to go to the next level. According to the report prepared by global consultancy Northbridge Capital, the retail market, which is currently worth $400 billion, is clocking an annual growth rate of 30%. “The market is expected to grow to $700 billion by the end of 2010. Of the total retail market, the share of organised retail in 2008 is 7.5%, valued at $300 million,” Although most of the Indian Retail industry is still characterized by an unorganized market but the last few years have seen tremendous growth in the organised retail in India. With the Indian big giants like RPG, Pantaloons, Reliance, ITC etc and the foreign players like Adidas, Reebok, McDonalds, the Indian Organised retailing has been growing at a rapid pace. Noting that organised retail market is growing at the rate of 40%, Northbridge Capital said that faster growth rate would be maintained in the next three years, especially with the entry of major global players and Indian corporate houses.Drivers of the Indian Organised Retail IndustryChanging consumption patterns – Convenience is the need of the hour. The concept of one stop shopping is “IN” and with the rise in the… Read full this story
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