Indian Retail Market:Growth, Opportunities and Challenges

Abstract

With India growing to be a hub for buyers and sellers, increasing purchasing power and growing consumption within the huge population that India caters to,it is a great opportunity to invest in for multinationals as well as local brands. Its competitive environments help firms to grow to their fullest potential and explore untapped potential of the Indian markets. Retailing is one of the core aspects that affects the economy, lifestyle, employment, consumer behaviour, purchasing power, value for money and time. The global retail giants have their own motives to have an interest in being part of the Indian market. The traditional Indian retail markets are in two major segments organized and unorganized, majorly in urban and rural regions majorly. This paper throws light on what is the current market size of retail sector today in India's economy where it stands on global level, the aspects that attribute to its growth and challenges and setbacks that are hindrances to it. Also with big players entering the local markets and dynamically changing consumer needs, survival of small scale retailers could be a major challenge. This paper covers various aspects of retailing; provides a 360 degree look to retailing and a detailed angle on current scenarios.