Interviews
ASSOCHAM on 'Retail Scenario in India and Its Related Issues'
05 Feb '07
3 min read
In a Paper brought out by ASSOCHAM on `Retail Scenario in India and Its Related Issues', it has been stated that approx. 40 million sq. ft. is currently generating a business of about US$ 4 billion in organised retail.
According to the Paper, the total retailing size in India is currently estimated at US$ 16 billion of which organised sector accounts for only 25% market share and remaining 75% is in the unorganised sector. Slowly and gradually, with boom in retailing continuing, the organised retail sector in small towns beyond metros will grow at a staggering level of 50-60% as compared to less than 35% in the large cities purely on account of scarcity of space which is in plenty beyond metros with reasonable land prices and without cumbersome procedure for land acquisitions, says the Paper.
Commenting on the Paper, ASSOCHAM President, Mr. Venugopal N. Dhoot said that, “India's vast middle-class and its almost untapped retail industry are key attractions for global retail giants wanting to enter newer markets and India provides for the ideal locations”.
Since, Delhi and its suburbs have so far seen the growth of 100 bigger and smaller malls, roughly 600 new malls are coming up in other metropolis and large townships in which less than 35% of retail business is going to be transacted. The Paper reveals that over 1000 malls are in the pipelines for smaller townships in which the retail sector is projected to grow at over 60% because of ample availability of land and increased purchasing power of the folks living in those areas because of increased economic activities.
According to the Paper, the total retailing size in India is currently estimated at US$ 16 billion of which organised sector accounts for only 25% market share and remaining 75% is in the unorganised sector. Slowly and gradually, with boom in retailing continuing, the organised retail sector in small towns beyond metros will grow at a staggering level of 50-60% as compared to less than 35% in the large cities purely on account of scarcity of space which is in plenty beyond metros with reasonable land prices and without cumbersome procedure for land acquisitions, says the Paper.
Commenting on the Paper, ASSOCHAM President, Mr. Venugopal N. Dhoot said that, “India's vast middle-class and its almost untapped retail industry are key attractions for global retail giants wanting to enter newer markets and India provides for the ideal locations”.
Since, Delhi and its suburbs have so far seen the growth of 100 bigger and smaller malls, roughly 600 new malls are coming up in other metropolis and large townships in which less than 35% of retail business is going to be transacted. The Paper reveals that over 1000 malls are in the pipelines for smaller townships in which the retail sector is projected to grow at over 60% because of ample availability of land and increased purchasing power of the folks living in those areas because of increased economic activities.
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