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Organised Retail in India
Why is it in the news?
- According to a latest joint report by Deloitte and the Retailers Association of India (RAI), the share of the organised retail market is expected to increase from 12% in 2017 to 22%-25% by 2021.
More in the news
Findings of the report:
- The retail market is expected to grow from $795 billion in 2017 to $1.2 trillion by 2021, as per the report.
- The growth will be driven by increased internet penetration in the country and more international retailers operating in India.
- It would also be partly driven by the growth of e-commerce market from $24 billion in 2017 to $84 billion in 2021.
- The report pegs the growth in e-commerce market to factors like growing Internet penetration and increased usage of smartphones among others.
Organised Retail:
- Organized Retail refers to standardization of the otherwise fragmented retail industry.
- For Example, Modern retail chains and stores are organized and managed by a central entity.
- It is one of the fastest growing and promising sectors in India .
- In recent years, it has become more organized with the entry of big players and foreign retailers.
Source
The Hindu.