Indian retail to exceed $22 b by 2010: Assocham

Size of organised retail in India will exceed $22 billion by 2010 from the current level of $ 4 billion. Requirement of space for the retail is also going to touch 220 million sq.ft. Currently, within the organised retail sector, about 40 million sq.ft of space is generating revenue of almost $ 4 billion. The total size of retail in India is $ 16 billion of which 25 per cent is in organised sector. Smaller towns will experience a retail boom of 50-60 per cent where over 1,000 malls are expected to come up due to availability of land and increase in purchasing capability of people. However, growth level in metros will remain less than 30 percent, where 600 malls are in the pipeline, mainly due to scarcity of space. Some of the key areas in which retail boom will prevail are food items, consumer goods, grocery, sportswear, outerwear, tailored clothing, eyewear, watches, footwear and accessories.

Courtesy: www.indianretailer.com
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