Analytical Study of the Impact of Retail Industry in India's Overall Development

Retailing is very dynamic industry by its nature. The present scenario of the retail industry is going through a period of dramatic change from the conventional kirana shops bazaars mandis moving towards departmental stores shopping malls hyper markets and franchise retail chains. Retailing has been the most effective and attractive sector of last decade after the information technology. It is considered as the sunrise industry for its respectable share in GDP. It is necessary to understand that in the complex world of trade, where the customer is the king and marketers are focusing on customer delight, retail may be redefined as the first point of customer contact. Retailing is one of the oldest businesses. Earlier it was only known for the buying and selling of goods and is considered as the basic economic activity. In fact most of us become either buyer or seller in retailing very regularly in our daily lives. This paper focuses light on how the growth of retail industry simultaneously shows the progress of India's development. For the purpose of research correlation statistical tool is used. The researchers has derived correlation between growth of retail and its correlation with GDP and FDI. Further t-test: Paired Two Sample for Means has be applied.