The current FDI in India stands abysmally low at $ 5.3 billion, representing less than 1% of the foreign trade worldwide. With the new UPA government initiative of opening up FDI in retail, it seems that we would have the likes of Wal-Mart and Carrefour in our cities. The retail market has grown substantially in the past 3 years, thanks to the high disposable income of the knowledge workers and call center executives. The growth rate is at 30%, which means immense scope for business. Currently the retail market in India is worth $ 180 billion, with a plethora of shops in the unorganized sector. A lot of international brands could actually open up exclusive showrooms once the FDI is allowed.
Shopping would never be the same again, though we don’t see us getting rid of the good old grocery stores! They will remain, after all, the personal touch matters too!!
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