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Audacious! – A word seldom used to describe an industry. But then, rarely has there been an instance of an industry showing such effrontery to prove the market watchers wrong and orchestrate a spectacular turnaround. Any guesses about which sector we’re talking about? It is undoubtedly the Indian retail sector, which is scaling gravity-defying heights. Retailing in India today stands at a never before seen crossroads and is progressing at such a scorching pace that players are readying themselves to entrench themselves fully in the retail sector. From Pantaloons to Shopper’s Stop, from RPG Group to Lifestyle, from Reliance Retail to the yet to be launched Bharti-Wal-Mart venture –all are unveiling new growth plans, lest they miss the retail bus. Factors such as changing demographics, upswing in the middle class population along with growth in disposable incomes and easy financing schemes are making India the next major retail destination of the country. If numbers are any indication of the potential of the sector, then CII has forecasted that organised retailing which stands at Rs.350 billion currently is said to touch the Rs.1.1 trillion mark in the next five years.
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Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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