India - Retailing - Destination

Retailing is not only an important aspect of the economic structure but very much a part of our lives. Its current contribution which is 10% of the country's GDP, proves its significance towards the growth of country's GDP. For centuries now, India has been operating within its own unique concept of retailing. In the words of David Gilbert retail is a business that guides its marketing effort towards the final consumer satisfaction primarily based upon the organization of selling goods and services as a way of distribution. It is sure and certain that India will be the destination for retailing as existing Indian middle class purchasing power is increasing at a rapid pace. Rural India can be considered as heart land of retailing. But according to Indian Market Research Bureau (IMRB) study 0.6 million villages in India did not have a retail outlet of any kind. Further, the outlet density in rural India is lower than that of urban India. It indicates a lot of potential being left untapped. The retail companies are rising in India at a remarkable rate year after year. And, they have brought upon a striking change in the shopping attitude of the Indian customer. Many major international retail enterprises such as TESCO, METRO AG, WAL-MART have already recognised the scope of growth in Indian retail industry. As India is the second fastest growing economy in the world, it provides plethora of opportunities and increasing scope for the Indian retail market. Investor have outstanding investment options in Indian retail segment and allied sectors. India has the uppermost shop compactness in the entire world with around 1, 20,000 shops diagonally the country. Furthermore over, India has been rated surrounded by the top 10 FDI destinations of the world.