The Current Scenario of Organized Retailing in India

The Retail sector of India is now among top five fastest growing markets globally and by 2015 it is going to touch $ 637 bn. Most of it is going to be through Modern retail i.e. through shopping malls, which is expected to increase by 22% by 2015 and the number of malls is going to touch a promising figure of 500 approximately by 2015. The total mall area available in India is more than 900 lacs sqft. The economic environment has changed and retailers are not confident of developer’s ability to get enough foot all. That’s why no retailer would like to be the first to test the water. He would like to wait to understand the synergy with other tenants before stopping into a mall. Anchor tenants hesitation will make life difficult for mall developers as they are already facing excess retail capacity.