Gulf firms eyeing booming Indian retail sectorJun 10, 2007
With a retail boom sweeping India, private entities from the Gulf region are making a bee-line to invest in the sector but are wary of some challenges in the huge and diverse market, according to experts here.
"Over the next two years, India is planning to develop a staggering 518 shopping malls across the country. Typically every 100 miles, the food and language changes, which means that your communications has to be key," Srinath Sridharan, head of lifestyle business and strategic alliances at Wadhawan Holding Private Limited in India was quoted as saying by Gulf News.
The size of the country is another factor that could deter retailers from investing in India, said Shubhranshu Pani, president, retail services at Trammell Crow Meghraj Property Consultants.
"By 2015 almost 72 per cent of the population would be under 35-years-old, which I think will contribute to the highest number of consumers in the world."