| The country's organised retailing market, which has evinced a lot of interest among domestic and foreign corporate giants, is expected to grow to Rs 200,000 crore by 2010 from Rs 35,000 crore in 2005, according to a report by Indian Retail Forum.
The size of the organised market was estimated to touch Rs 1,00,000 crore by 2010 two years ago in the Indian retail report 2005. But with homegrown established players like Planet Retail and incoming giants such as Tatas, Reliance and Birlas as well as world's largest retailer Wal-Mart joining the bandwagon with Bharti, the industry is expected to reach double that size, as per the Indian retail report 2007.
Existing players in organised retail have stepped up their expansion drive with Reliance announcing big plans and other Indian corporate houses evincing interest on investing heavily in this sector.
India had kept retail sector largely closed to outsiders and only allows 51 per cent foreign investment in single-brand retail with prior government permission, the report said.
However, Nath had recently indicated the government might consider opening up retail trading for select sectors such as electronic goods, stationery, sports goods and building equipment, said the release. |
