China & India's retail sector to continue growing rapidly, says Deloitte report

28 Jun '07

2 min read

China and India are well poised to grow rapidly on the retail front, according to the recently published Deloitte Touche Tohmatsu report.

This online report titled China and India: Comparing the world's hottest consumer markets has drawn comparisions between the two growing economies driven by retail sector.

It announces: "The integration of more than one billion Chinese and Indian workers into the global economy over the past quarter century was one of the most important economic events ever."

During 2006, China's retail sales sood at US $785 billion while Indian figure for the sector was $395 billion.

Clearly stating that China and India take up the first and second pole position as the largest growing economies of the world, it is "tens of millions of people in both countries moving from poverty to middle class affluence" that matters the most.

Both the countries are currently witnessing influx of large amounts of investments fueling gowth of this particular sector.

The report indicates world's major retailers and suppliers will vie respective marketplaces in both the countries.

Foreign retailers look set to dominate the retail landscape of China, while a mix of domestic and foreign retailers will jostle for the marketplace in India.

China's consumer spend will shift from goods to services while that in India will be focussed on goods, forecasts the report for the year 2015.

Deloitte Touche Tohmatsu, USA

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