Home / Knowledge / News / Rise of services industry & working women to propel retail industry
Rise of services industry & working women to propel retail industry
25
Apr '08
The Indian retail market will grow to $637 billion by 2015 and modern retail, which presently accounts for 4 per cent of the total market, is likely to increase its share to 22 per cent by 2010, said Dr Ashwani Kumar, Minister of State for Industry, Government of India, at Retail Symposium 2008 on “Making Delhi a Global Retail Destination”, organized by Confederation of Indian Industry, on Friday in New Delhi.

“Delhi is India's largest consumer market with the highest concentration of households with an annual income of $110,000 and per capita income more than double the national average. Delhi is a destination for shopping across India besides its own consumption appetite. It is the principal business and commercial centre in northern India, well complemented by industrial areas in the National Capital Region,” Mr Kumar said.

With an economy size of Rs 1,18240 crore, Delhi is the largest market in the country. Delhi is the biggest consumption centre in north India. It distinguishes itself as super centre for trade. It has attained the status of major distribution centre by virtue of its geographical location and other historical factors, availability of infrastructure facilities etc, he said.

“A family in Delhi spends Rs 2.1 lakh per annum on an average, while it saves Rs 50,000. As people prosper further, the savings will further go up, which will result in bigger retail industry. As the benefit of economic liberalization spreads and more and more people rise above poverty line, retail activities will gain momentum,” Mr Kumar said.

He praised entrepreneurs and government policies in facilitating the rise of modern trade. He underlined the employment opportunities that organized retail industry can create. The rise of services industry and working women will propel the retail industry in India. The minister highlighted the fact that India won't be hard hit by the global slowdown as 95% of growth is driven by domestic consumption.


Must ReadView All

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search