Trends in Retail Business in IndiaApr 25, 2007
India is seeing big movement in Retail Sectors. Big players are coming in retail sectors like TATA, Reliance, Bharti Enterprises, and so on.
Though it is not new that a big player is involving in retail sectors, but currently it is a great surge in this segment of economy. Earlier Tata has entered in this market as goldsmith. All traditional goldsmiths have protested against “Tanishq”, as I can remember.
I first personally feel this emerging trend where traditional players felt problem in Milk market. No big established players come to this but through large cooperative organizations established with time, traditional milk men felt the heat and they started coming to doors of people for milking cows. Previously people have to go to khatal (English: cow shed).
FICCI seeks retail sops to grow $ 430 billion by 2010. So, Federation Of Indian Chambers of Commerce and Industry has sough industry status and liberalization of foreign direct investment (FDI) regime for the sector for it growth. At present the size of the Indian retail industry is estimated to be $ 328 billion.
Both Reliance Retail (Mukesh Ambani) and Bharti Enterprises (Sunil Mittal led) has drafted a similar business model of bringing local kirana store (small retail store) owners into its own networks. They will use small retail store property on lease and sign a no competition pact with them.
India's $300-billion retail industry is gripped by a new concept — discount malls. Top realtors and local retail chains are developing malls in regional boroughs, specifically to sell premium branded goods at prices 30 to 40 per cent cheaper than the maximum retail price (MRP)>>Mushrooming ‘discount malls’ to spur retail biz
Report on Retail for youngster
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