The Associated Chambers of Commerce and Industry of India (ASSOCHAM) conducted the retail market study.
It stated that the overall size of Retail Market in India is projected to grow at of about 36 percent by 2008, thus broadening its total size to over Rs.14,79,000 crore from its current level of Rs.5,88,000 crore.
The Study also forecast that the size of organized sector retailing will witness about three-fold growth which will balloon to Rs.15,000 crore by end of 2008 from its present estimated size of Rs.5,000 crore.
In view of ASSOCHAM, the unorganised retailing will continue to have its edge over organised retailing as the government keeps on dithering in taking decision to open up retail to MNCs.
The retail opening is unlikely in near future, therefore still three-fold growth in the size of organised retailing is logical, particularly when the overall retailing will grow at (@) 36 percent per annum.
Releasing the Study on `Retail and its Prospects', ASSOCHAM President, Mr. Anil K. Agarwal said that initiatives of all state governments including that of center in the form of allocation of land at concessional rates, grants of loans at liberalised interest rates to promoters of shopping malls as also rationalization of state levies are prime factors that will aggressively inspire entry of organized sector into retailing in the next few years.
marketing@alchempro.com
