Sunday, May 06, 2007

Organized retail requires 1 million people in next 10 years

Speaking at a meet in Hyderabad, Gibson Vedamani of the Retailers Association of India (RAI) said that the organized retail sector requires at least one million people over the next ten years if it is to grow. The current size of the retail sector is Rs 9.30 lakh crore, of which organized retail accounts for Rs 35,000 crore. Most of the retail sector consists of small fragmented shops, owned and managed by independent owners.

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