Retail sector is one of the strong pillars of our economy and it accounts for over 20% of our Gross Domestic Product (GDP). Statistics has revealed that the golden days for retail sector might continue in the country. A survey has found that, the Foreign Direct Investment (FDI) in the retail sector has notched up to a massive $70.75 million between October 2014 and September 2015.
The PE investment alone into the retail sector touched $39 million last year. In 2016, it is anticipated to be doubled to $75-80 million, according to the survey. Retail sector had opened 100 % FDI last year and with favoring factors like economic stability and the improved approach of the customers are expected to double the PE investment in retail sector this year.
Eyeing this favourable scenario, more foreign retail brands are expected to step foot in the Indian soil. This increased foreign activity will result in the real estate boom. In order to provide the breeding ground for businesses, large number of malls will be put up within residential and commercial pockets. Adjacently, infrastructural developments like public transport and roads will also gain momentum.
The major foreign retailers have already started experimenting with the potential markets and analyzing the formats and sizes at which they can adapt to these markets. Retail industry in India has been constantly evolving and in the future days, it will evolve much faster. The retail boom is also expected to sprout more job opportunities all across the country.