Notwithstanding the current slowdown, India’s retail industry is poised to become a USD1.3 trillion opportunity by 2020, driven largely by modern trade, a joint report by industry body The Federation of Indian Chambers of Commerce and Industry (FICCI) and Tata Consultancy Services (TCS) said.
"The estimated value of the retail sector at the present juncture is about USD500 billion. Penetration level of modern retail, which stands at 5 percent at present, will grow about six times from the current USD27b to USD220b in 2020," the report said.
The report titled Driving Consumption through Integrated Multi-Channel Retailing was released in New Delhi on Tuesday at a retail summit organised by FICCI.
(Source: Business Standard)