Indian retail to triple by 2010
By agencies | Thursday, 22 December 2005, 08:00 Hrs
MUMBAI: India's organized retail industry is expected to grow 25-30 percent annually and triple in size by 2010, research firm CRIS INFAC said. "This would entail an investment of approximately $7.4 billion per year," Nagarajan Narasimham, CRIS INFAC's head of research said. Food and grocery were the industry's fastest-growing segments, with revenues expected to grow by five times over the next five years, he said. "At present all the current players in the organized industry account for a mere 10 percent of its total potential," Narasimham said. Narasimham said small cities had the most scope for organized retail growth as penetration was lower than in big cities.