The Indian retail market is the fifth-largest retail destination globally. It is estimated to grow from US$ 385 billion in 2007–08 to US$ 405 billion by 2009–10 and to US$ 573 billion by 2012–13. The sector has been growing at a compound annual growth rate (CAGR) of 28 per cent for the last five years and provides employment to 8 per cent of India‘s working population.

India is ranked first on the Global Retail Development Index –2009, conducted by AT Kearney across 30 emerging economies. The country is also ranked fourth in the 2009 Retail Apparel Index.

Significantly, the retail sector revenues are pegged to touch US$ 460.6 billion by 2010–11. Further, the organised retail is projected to grow to US$ 41 billion by 2012–13. The unorganised retail formats are converging and combining in formats such as mushrooming village malls. The number of malls in the top seven cities (NCR, Mumbai, Hyderabad, Pune, Bangalore, Kolkata and Chennai) is expected to go up to 360 by 2010 from the present 148.

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