A Nation of Shop keepers... getting Better !
India, like Britain, is also a nation of shopkeepers. With over 12 mn retail outlets, India has one of the highest densities of retail outlets in the world with one retail outlet for ~90 persons. No wonder India is the ninth largest retail market in the world with annual retail sales of ~USD 215 Bn in 2005. However, the share of organized trade in India is currently very low estimated at just Rs. 35,000 Cr. in 2005 (Rs. 28,000 in 2004). This accounts for less than 4% of the total retail trade in the country. Organised trade in India is highly under-developed as compared with other emerging markets in Asia, Latin America and Eastern Europe and developed markets like the US. Country % Share of Organized Trade (2003) India 4% China 17% Poland 20% Indonesia 30% Russia 33% Brazil 35% Thailand 40% Malaysia 55% USA 85% Organised Retail : India Vs. China Indian and Chinese markets are comparable in many aspects. • Both countries are not homogeneous. They are composed of many markets within a s