INDIA: Retail Sales Expected To Grow To $410bn This FY
The Indian retail market is expected to be worth $410bn in sales by end-March 2010, according to latest estimates from the Associated Chambers of Commerce and Industry of India (Assocham). Of that amount, organised retail sales are expected to amount to $9.23bn,
If sales do meet the target, it will be a 5.5% growth from last year, helped by estimated sales rises of 22% and 30% in the last two quarters, respectively. The figure would also mean that retail sales would account for about 12% of India’s GDP for the year, up from an estimated 8% in 2007, highlighting the growth in the sector in recent years.
NamNews - Tuesday 8th December 2009