Indian Retail sector to grow to USD 280 bn by 2010-11
The booming retail sector in India is expected to grow at 7 per cent to 280 billion dollars by 2010-11 from the present 200 billion dollars, a report by Assocham said. The report on the future of the retail industry in India estimates the size of organized retail to grow from the current $6 billion to $17 billion in the next 4-5 years.
The retail boom is likely to have a significant impact on the commercial real estate sector as the large metros will have sizeable retail construction projects underway. The development of shopping malls in cities like Mumbai, Delhi, Chennai, Kolkata, Bangalore and Kanpur would be based on build, operate, lease and sell basis, which would lead to a close link between real estate developers, state governments, financial institutions and retail industry, the report said.
By INRnews Correspondent
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