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India's retail sector is wearing new clothes and with a three-year compounded annual growth rate of 46.64 per cent, retail is the fastest growing sector in the Indian economy. Traditional markets are making way for new formats such as departmental stores, hypermarkets, supermarkets and specialty stores. Western-style malls have begun appearing in metros and second-rung cities alike, introducing the Indian consumer to an unparalleled shopping experience.
Retail sector: on an upward curve
India's vast middle class and its almost untapped retail industry are key attractions for global retail giants wanting to enter newer markets. While organised retail in India is only two per cent of the total US$ 215 billion retail industry, it is expected to grow 25 per cent annually, driven by changing lifestyles, strong income growth and favourable demographic patterns.
KSA-Technopak, a retail consulting and research agency, predicts that by 2010, organised retailing in India will cross the......

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Approximate Word Count: 441
Approximate Pages: 2 (250 words per double-spaced page)

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