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Organized retail set to touch $30 Bn in three years: Study
By siliconindia
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Thursday, 13 December 2007, 01:48 IST
New Delhi: 'Winning with Intelligent Supply Chains', a study made by Federation of Indian Commerce and Industry (FICCI) and Ernst & Young reported that organized retail is set to grow from present $14 billion to $30 billion within three years.
"The low penetration levels of organized retail in India and the fact that the market size is set to grow at a frenetic pace provide a huge potential for retailers to tap a highly unexplored market," the report said.
The key drivers of organized retail sector are the tendency of youth to consume and the easy availability of credit at low interest rates.
There are many challenges that the sector faces, which need to be solved quickly. Inadequacies in infrastructure such as lack of good quality road networks, power shortages and insufficient storage spaces, multiple state and central taxes and a shortage of skilled manpower are some of the challenges faced by the industry, said Rajan Bharti Mittal, MD, Bharti Enterprises.