Retailing in India: a goldmine for foreign retailers
Journal Title: International Journal of Engineering, Science and Mathematics - Year 2011, Vol 1, Issue 2
Abstract
Retailing is the largest private industry in India and second largest employer after agriculture. The sector contributes to around 10 per cent of GDP and 6-7 percent of employment. With over 15 million retail outlets, India has the highest retail outlet density in the world. This sector witnessed significant development in the past 10 years from small unorganized family owned retail formats to organized retailing. Liberalization of the economy, rise in per capita income and growing consumerism have encouraged large business houses and manufacturers to set up retail formats; real estate companies and venture capitalist are investing in retail infrastructure. Many foreign retailers have also entered the market through different routes such as wholesale cashand-carry, local manufacturing, franchising, test marketing, etc. With the growth in organized retailing, unorganized retailers are fast changing their business models and implementing new technologies and modern accounting practices to face competition.The present paper analyses the perceptions of foreign Retailers regarding Indian Retail market and emerging sceniario in retail sector.
Authors and Affiliations
Mr. Harvinder Singh and Mr. Krishan Kumar
Keywords
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