Guru Nanak. Khalsa College Yamunanagar, INDIA E-mail: mandeepbindra@live.in
The Indian retail sector is at an inflection point, with organized retail poised for an approximately 35 per cent compounded annual growth rate (CAGR) for the next few years. However, valued at around USD 320 billion, the Indian retail sector is still relatively small by global standards. But India is catching up and catching up fast. For two years in a row, A.T. Kearney has ranked India at the top of the Global Retail Development Index. Several of the major Indian conglomerates have announced and are in the process of implementing major retail projects (Reliance, AV Birla Group, Tata, etc.), existing retailers continue to experiment with new formats and concepts (Pantaloon, Shopper's Stop, etc.), many of the multi-national retailers are pacing the sidelines and evaluating different ways to participate, and mall development continues at a staggering pace What lies behind this euphoria is an omnipresent confidence in the ability of organized retail to grow along with the ongoing wealth generation amongst the middle class in India. The consumer class in India is estimated at 400 million people with a rising disposable income. About 29 per cent of the population is now urban, compared to 26 per cent in 1991, and over 50 per cent of the population is below the age of 24, and faces a job market more resilient than it is has ever been before. The Present paper analyse the causes of retail Growth in India.
