|  The
gross retail trade, both organised and unorganised,
currently pegged at US$284 billion is expected to more
than double to US$600 billion in the next eight years
by 2015, says the report.
The impending growth, among others, would be driven
by growing young population, migration to urban areas
and easy access to credit, stated Mittal.
Organised retail sector, presently constituting less
than 5% of the total retail is expected to touch US$110
billion during the same period, by 2015. The rate of
growth for the organised sector is estimated at 27%
per annum. According to Mittal, the real growth for
this will come from tier I and tier II towns.
"The entry of domestic and foreign players, which
is opposed by pressure groups, will eventually benefit
the retail market as a whole in terms of lower prices,
better quality and convenience. The Indian market is
huge with enough space for at least 8-10 large retailers,"
added Mittal.
In the fast changing scenario, the ubiquitous Kirana
stores are not expected to lose out. But the organised
retail would lead to investments in development of country's
infrastructure, supply chain and cold chain management
tapping opportunities of inclusive growth.
Bharti group is setting up a pan-India retail chain
of large format stores in collaboration with the world's
US-based biggest retailer Wal-Mart. The first Bharti
store is set to roll out sometime in middle of the next
year.
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