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The sector is the largest source of employment after agriculture, and has deep penetration into rural India generating more than 10% of India's GDP 2.
Source: Ernst &Young, The Great Indian Retail Story, 2006.
A look at the statistics shows that the retail sector in India is worth USD 394 billion and is growing at the rate of 30% annually. An ICRIER study has found that retailing ($180 billion) contributes to 10 per cent of GDP and employs 7 per cent (21 million) of the workforce 3. According to AT Kearney, India is given the top ranking as the next foreign investment destination, as markets like China become increasingly saturated 4...
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