Retailing in India has expanded its horizons in last few
years offering ample amount of opportunities to Indian business Diasporas. Reasons
are simple; India has the youngest population in the world. Over 65 per cent of
the population is below 35 yrs old; 54 per cent of the population is below 25
years of age. So, due to its large consumer base India provides an opportunity
to the retailers of all over the world to sell their products in India.
With the coming of more and more multinationals in India which
are providing job opportunities to the young generation as in most developing
countries the growth incomes, purchasing power and disposable incomes has
increased immensely which has substantially increased the size of retail market
in India.
Indian government is taking positive steps to
revive the economy and is sure to bring it back to annual growth rate of nine
percent notwithstanding the current global recession. Indian real estate
industry has shown positive results gaining its momentum, as real estate is an
industry which has always been directly associated with the retail revolution
in any country.
Indian Retail Industry
With the boom in the Indian retail industry various Indian
companies has emerged as successful players. For instance, the RPG Group which was
the first to get into the organized retailing business in India, later the
introduced Food world a division of Spencer & Co, a part of the RPG Group,
in May 1996. RPG launched another chain called Music World; in between they
have also formed other companies and opened new stores. As Indian retail
industry started flourishing Pantaloon Retail became one of the largest
companies in this business with their retail presence across various segments
including food, fashion and footwear, home solutions and consumer electronics,
books and music, health beauty and wellness, general merchandise, telecom and
IT, E-tailing, leisure and entertainment and financial products and services.
The company is a part of Future Group, a diversified conglomerate with presence
in multiple consumer-centric businesses.
The Tata Group, with interest in various consumer product
categories has different companies to retail its brands. While in automobiles
it operates through its distributor and dealer network, for lifestyle &
F&G segment, it operates through its retail arm Trent. Titan Industries
Limited, a joint venture between the Tata Group and the Tamil Nadu Industrial
Development Corporation (TIDCO) is also a famous name in watch business and branded
Jewellery business with its brand Tanishq. Primal Group, Vishal retail,
Reliance retail are among the famous business houses which have ventured in to
retail business. Among the wholesalers the German group Metro cash and carry is
a famous name that started operations in India in 2003 and introduced the
concept of Cash & Carry to India.
Attributes driving Indian Retail Industry
The certain points which can be taken under consideration:
- Economic prosperity
- Rising incomes
- increased per capita spending
- rapid urbanization
- Improved infrastructure
- liberalization of the Indian economy
- Flourishing manufacturing and services sectors
- Booming real estate industry
- Increasing foreign direct investment
