New Delhi: The study by the Associated Chambers of Commerce and Industry of India (Assocham) predicts that the boom in India’s retail sector will continue and top $365 billion in 2008, against $300 billion a year before.
With a year-on-year growth of 30-35 percent, the retail trade sector in India will top $440 billion by 2010, says the study by Assocham.
“The retail industry size in calendar 2007, particularly in its organised retail segment, is around less than 5 percent, which works out to be slightly more than $16 billion,” said Venugopal N. Dhoot, Chamber President.
According to Dhoot, the organised retail players occupied a space of one million sq ft in 2002, which ramped up to nearly 14 million sq ft by calendar 2007.
This was likely to grow to 16 million sq ft in 2008. said Dhoot. Large players like Reliance Industries, Plaza, DLF and Spenser, and new-entrant in the field, the Aditya Birla Group, would embark on a major expansion drive in their retail businesses in 2008, Dhoot added.
The study estimated that by 2010, the organised retail segment would witness an additional investment of $70 billion. In 2008, the investment size would be about $25-28 billion.
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This post was written by techhair on January 3, 2008
