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Apparel retail sector on high growth trajectory
19
Sep '09
Retail sector in India is expected to grow and reach $833 billion USD by 2013, and to $1.3 trillion USD by 2013.

Among 30 emerging countries in the retail index, India ranks first, followed by China at the fifth position. Investors give first priority to this ranking, and global retail strategies are developed on the basis of the growing economies of the countries. For this reason alone, international retail giants are seeking entry into India.

Apparel is the second largest category in the Indian retail market and is predicted to grow by 12-15% every year. Along with food and grocery, apparel is expected to dominate in the organized retail category.

Changing consumer behavior, and lifestyle, and the influence of western culture among Indians, have resulted in a phenomenal growth of the retail sector of the country.

India is now on the radar of global retailers. Accelerated development of the retail industry in the country and building brand value of domestic products is essential not only for marketing the consumer products more efficiently, but also for the development of the retail industry.

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Fibre2fashion News Desk - India

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