India s Organized Retail market and opportunity for Retail Player s

According to Global Retail Development Index India is positioned as the leading destination for retail investment. This followed from the saturation in western retail markets and we find big western retailers like Wal-mart and Tesco entering into Indian market. India has the youngest population in the world, which is cornering the lion's share of new employment opportunities in the IT and service sectors, and fueling the demand for lifestyle product and services to dizzy heights. The domestic retail industry, the retail estate developers and the large corporate houses have taken note of it and so have the global retailers and brands. The Indian Government too is seized with the issue and efforts are on to devise a long-term strategy to boost the retailing sector. Organized Retail could well become a major driver of the economy in the years ahead. Rated the fifth most attractive emerging retail market, India is being seen as a potential goldmine. It has been ranked second in a Global Retail Development Index of 30 developing countries drawn up by AT Kearney. The list was developed as a response to requests from retail chains facing saturated demand in most western markets.

Autorentext

Presently working as Assistant Professor with Dyal Singh Evening College, University of Delhi, Lodhi Road, New Delhi. He is also working on consumer behaviour and retail related a project with Prof. Bernard Haller, President of ERA, Germany,Prof. Dr. Bob de Wit NB University,Netherlands,Prof.Elena K. Zavyalova-GSOM,St.Petersburg University(Russia).