Vol: 4, Issue: 2 2014

Page: 34-36

Local Retailers: Perception Over Entry of FDI in Retails With Special Reference to Grocery Segment in Delhi

H.L.N. Murthy

Retailing in India is one of the pillars of its economy and accounts for about 15% of its GDP. The Indian retail market is estimated to be US$450 BILLION and one of the top five retail markets in the world by economic value. India is one of the fastest growing retail markets in the world, with 1.2 billion people. India's retailing industry is essentially owner manned small shops. In 2010, larger format convenience stores and supermarkets accounted for about 4 percent of the industry, and these were present only in large urban centers. India's retail and logistics industry employs about 40 million Indians (3.3% of Indian population).