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Retail sector ended up with a growth rate of 25-28%
01
Jan '08
Retail and real estate boom will further roll down in 2008 as these two key sectors are well poised to notch a year-on-year growth of 30-35% and between 40-45% respectively over the calendar year 2007, according to projections made by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

In calendar 2007, the retail sector ended up with a growth rate of 25-28% as against 35-38% that of real estate. Organized and unorganized retail size in calendar 2007 has been estimated at US$ 300 billion which is likely to grow up to US$ 365 billion in calendar 2008 and further reach the size of US$ 440 billion by 2010.

Releasing the assessment, the ASSOCHAM President, Mr. Venugopal N. Dhoot said that of total US$ 330 billion, retail industry size in calendar 2007 particularly in its organized retail segment is around less than 5% which works out to be slightly more than US$ 16 billion.

The organized retail occupied a space of 1 million sq. ft. in the year 2002, which shot up to nearly 14 million sq. ft. by calendar 2007 and in 2008, the space occupation in the organized retail sector is likely to be 16 million sq. ft. as retailers like Reliance, Plaza, DLF, Spenser and even Aditya Birla Group more would witness their major expansion drive in retail sector in calendar 2008, pointed out Mr. Dhoot.

As per estimates made by ASSOCHAM, the organised retail segment would witness an additional investment of US$ 70 billion by 2010 and in 2008 especially, the investment size would be around US$ 25-28 billion as the Chamber has projected retail growing between 30-35% in next 3-4 years.

The ASSOCHAM Chief also said that in 2007-08 fiscal, total retails, contribution to national GDP is estimated between 8-10% which would further jump up to nearly 12% in next few years. By 2010, retails contribution to national GDP in totality is likely to be 22%.

The Chamber is also of the view that India has already emerged as the 5th world's largest investment destinations globally in retail sector because of its market and potential which is made up of India's population base.

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