Indian retail to triple by 2010

Indian retail to triple by 2010

By agencies   |   Thursday, 22 December 2005, 08:00 Hrs
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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.

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