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Indian retail market to grow two-fold in four years
23 Jan '13
1 min read
Indian multi-brand retail market is expected to grow two-fold in the next four years with the help of foreign direct investment (FDI), said Mr. Kishore Biyani, CEO of Future Group.
Speaking at 'Manfest-2013', an Indian Institute of Management - Lucknow event , Mr. Biyani said the FDI in India’s multi-brand retail sector is going to impact the farmers more than the small retailers.
He said small grocery shops will not be affected through FDI since 75 percent of the population prefers to choose unorganized retail market.
According to him, most of the ongoing discussions and debates on the FDI in multi-brand retail are due to the media.
He opined that the farmers could gain more profit by selling their products through retail sector than selling in roadside markets.
Talking about the purchasing power of Indian consumers, he said that only 12-14 percent of the total population choose to buy a product depending on their purchasing power.
Informing that every year multi-brand stores make most of their profit by selling carpets and towels, he said that a good entrepreneur should be prepared for the best and for the worst.
Fibre2fashion News Desk - India
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