The UK-based research agency, IGD, predicts that Wal-Mart will be the first global retailer to enter the Indian food and grocery retail market. The Indian retail sector, worth US$203bn, is currently closed to Foreign Direct Investment (FDI), but the government may open the doors to international players over the coming year, according to a report on www.kamcity.com, quoting the IGD findings.

If this happens, IGD believes that Wal-Mart will be the first to make a move with its hypermarket format. If the government drags its heels, Wal-Mart is likely to get a head start by establishing a cash and carry operation in the unrestricted wholesale sector.

"Global retailers cannot afford to ignore India if they are looking for growth," reports Fiona McTavish, Senior International Business Analyst, IGD. "By 2010 it will have overtaken France, Germany and the UK in the league of global grocery markets, and will double to a value of US$482bn by 2020."

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