Retail sector to grow to $410 bn by 2010: Assocham
  • This Section
  • Latest
  • Web Wrap
Last Updated: Monday, December 07, 2009, 15:04
  
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 Piramal said.

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.

PTI


First Published: Monday, December 07, 2009, 15:04


comments powered by Disqus