Retail sector to grow to $410 bn by 2010: Assocham
The Indian retail sector is expected to grow at a rate of 5.5 percent to USD 410 billion (around Rs 19,03,844 crore) by 2010 from the present about USD 300 billion, Assocham said on Monday.
New Delhi: The Indian retail sector is
expected to grow at a rate of 5.5 percent to USD 410 billion
(around Rs 19,03,844 crore) by 2010 from the present about USD
300 billion, Assocham said on Monday.
The chamber said that organized retail, which at present
accounts for nearly 5 percent of the overall retail market,
is likely to touch USD 13 billion (around Rs 60,375 crore) by
2010 from USD 9.23 billion (around Rs 42,000 crore) currently.
"The size of Indian retail sector is estimated to grow by
a compound annual growth rate of 5.5 percent, to become USD
410 billion market by 2010," it said.
India has one of the largest number of retail outlets in
the world. The sector is witnessing exponential growth with
retail developments taking place not only in major cities but
even in tier-II and III cities, Assocham President Swati
Over 100 malls of over 30 million square feet are
projected to open in India by 2010 end, it added.
DLF has cleared its intentions to come up in retail
segment with 500 luxury lifestyle stores across India within
five years, while Tata Sons are expanding their business
activities with 100 new Croma stores under their retail head
Infiniti retail within three years, it said.
It also said that the retail sector income may grow by
22.7 per cent and 30.25 percent in the third and fourth
quarter of 2009-10 respectively.