Research firms predict: ‘Organized retail to touch $45 billion’
The size of the Indian retail industry is a hotly debated issue. One can come up with a host of different figures depending on who has conducted the research. Here is a place that you can get all the pertinent numbers put together by all the research firms together. The Economic Times reports that a joint study conducted by top global research firms such as AT Kearney, Ernst & Young, PWC, Technopak, KPMG, ICICI, AC Neilsen-ORG Marg, Synovate, Cushman & Wakefield, predicts that the organized retail in India is going to reach Rs. 100,000 crore in the next four years from Rs. 35,000 crore in 2005. The annual growth rate of the organized retail sector will be about 30%.
The joint study was for the second edition of the India Retail Report 2007, which is brought out by Images F&R Research. The report added that India was the place where all the global majors were rushing to, "With escalating consumerism, unprecedented awareness and a youth-heavy customer base, India is the 'Promised Land' for global brands and retailers.” According to the mister of Commerce and Industry, Kamal Nath, who released the report, the boom in organized retail will create 10-15 million jobs for Indians in the next five years.
The joint study was for the second edition of the India Retail Report 2007, which is brought out by Images F&R Research. The report added that India was the place where all the global majors were rushing to, "With escalating consumerism, unprecedented awareness and a youth-heavy customer base, India is the 'Promised Land' for global brands and retailers.” According to the mister of Commerce and Industry, Kamal Nath, who released the report, the boom in organized retail will create 10-15 million jobs for Indians in the next five years.
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