Significance of retailers and traders in India
Studies have shown that the retail industry is set to report that the retail industry is expected to double to $ 1 trillion by 2020 from the current $ 600 billion in 2015. Besides, India is a fifth largest global destination in the retail industry. The recent growth in the income of the people and the rapid urbanization of cities and also the increase in population are responsible for the rapid growth in the retail sector. The growth in the retail sector is expected to grow by 12 per cent every year and with the modern infrastructure and the industries and manufacturing units growth, the retail industry would fast expand at 20 per cent. The studies have shown that the retail spending of first 7 cities of the country accounted for Rs. 3.58 trillion with a penetration at 19 percent in 2014 by the organized retail sector. The investments in the country have led India to be among the fastest growing e-commerce market in the world. The people who use the internet are increasing, and that is why the e-commerce market will reach $ 100 billion by 2020.
Scenario for retail industry in India
The international investors and manufacturers and even big brand names are keen to invest in a big market like India. The scenario is quite positive with many new reforms from the government that will be soon implemented to help investors get attractive returns. The country provides a good opportunity even for the domestic investors as there is a big market that is young and open to everything that is new. Both, the brick and mortar as well as the online market are experiencing the trend that is now seen in the market. The organized, as well as the unorganized retail companies, will be seen together that will help the retail industry in small and large cities.
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General traders, department and retail stores
- Agricultural co-operative associations India (14)
- Auxiliary trade activities India (20)
- Buying and commission agents India (215)
- Central purchasing organisations India (24)
- Commodity merchants India (46)
- Department and chain stores India (158)
- Experts and auctioneers India (44)
- Fair trade products (trade) India (39)
- General merchants India (3)
- Importers and exporters India (769)
- Mail order organisations India (1)
- Online retailers/e-commerce India (346)
- Retail trade India (109)
- Scrap and waste (trade) India (202)
- Second-hand equipment India (518)
- Trade, antiques and collectables India (161)
- Traders, textile fibres India (40)
- Vending machine operators India (21)