Retail Industry in India: The G-Local Perception
Published: 2011
Author(s) Name: Shiladitya Verma
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Abstract
Organized retail has clearly been one of the
most talked about consumption stories of the last
decade in India. Interestingly, in the next 2-3 years,
we will have a generation of urban affluent teenagers
who have continually been exposed to shopping
centres and organized retail since they were born.
Retailing is the second largest industry in the
US in terms of number of people employed. Wal-
Mart, the largest retailer in the world with annual
sales of US$ 284 billion is also the largest employer
in the US. The retailing industry in the US employs
more than 22 million Americans and generates more
than $3 trillion in sales annually. Like the US, many
developed and developing economies rely on this
sector for growth. In India, the retail industry is broadly
divided into the organized and unorganized sectors.
The total market in 2005 stood at Rs. 10,000 billion,
accounting for about 9-10% of the countrys gross
domestic product (GDP).
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