Organized modern retail segment is all set to grow by three times during the next five years. According to Global consultancy firm Technopak the figures are expected to reach over USD 80 billion. Private labels sales is also expected to increase from the existing 10 to 15 percent to 25 percent by 2014. Addressing the Leadership Summit 2010, Technopak President Raghav Gupta said, “The organized modern retail sector, which is at present USD 25 billion, will grow over three-fold during the next five years to reach a figure of up to USD 80 billion. It will be facilitated by growth in consumption level of the consumers and expansion of the modern retail sector”.
He further said, “The country’s modern consumption level will also double within five years to an annual figure of USD 1.5 trillion from the existing USD 750 billion”. “This increase in consumption along with an average growth of 8 per cent in the economy will help the organized retail sector to grow,” he said.
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