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Retail sector to grow at six percent by 2010
By agencies
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Monday, 16 May 2005, 19:30 IST
NEW DELHI: The organized retail sector is projected to grow at six percent by 2010 and touch $17 billion as against its current growth of three percent, estimated at $6 billion, an Assocham study said.
The study 'Retail Scenario in India', said the sector would grow at seven percent of GDP by 2010 and record a market share of $280 billion from its present level of $200 billion.
Cities that would see a retail boom include Mumbai, Delhi, Chennai, Kolkata, Bangalore and Kanpur and the mode that would be adopted for building and operating shopping malls would be through the build-operate-lease and sell basis.
This would establish closer linkages and relationship between real estate developers, state governments, financial institutions and retail industry.
The study pointed that issues like high stamp duties on transfer of property, Urban Land Ceiling Act, Rent Control Act and Land Acquisition Act might restrict growth of the retail sector.