India’s retail industry is going through a drastic change and all for the better. It is going through one of the fastest development phases and is expected to grow drastically.
Some facts about India’s Retail Industry
It is one of the fifth largest preferred Retail Industrial destinations and it ranks highest among the world in terms of per capita retail store availability.
With the real estate sector on a growth momentum, India is set to add new malls in the retail space. The malls will be spread across 8 of India’s big cities.
A positive and a healthy economic growth, changing demographics, increasing disposable incomes, changing consumer tastes and urbanization are all adding to the booming retail market growth.
Increased participation of the foreign players is adding to the boost in the Retail Industry.
The Indian retail sector is experiencing exponential growth and is poised to be one of the big players in the Indian economy. This is because the retail sector development will not just take place in the big cities or metros but also in the Tier-1 and Tier-2 cities which will only add to the overall retail sector growth.
Retail is further poised for growth-
After a comparatively sluggish retail sector growth the retail sector is on a growth momentum and is going to play a key role in the economy. The reason for this is that the market is now confident that the retail sector will play a positive role in the future growth of the economy.
But at the same time, it is understood that the malls will hold an important destination and will not just be a shopper’s paradise. Alongside that e-commerce stores are also establishing their presence in many prominent malls which is only adding to the fodder.
The market will be bullish and on an upswing for growth over the coming few years. The scope for the expansion of the retail market is tremendous and is only going to get bigger and better and is going to expand.
And so due to this very reason, the investors are very earnest to capitalize and invest in this market and maximize their returns.
So why is there a sudden expansion of the retail space for malls?
As mentioned above foreign retailers are entering the market and are scouting for interesting locations which will be an overall attractive destination.
Which are the cities which will be getting new retail malls?
Amongst these cities, Hyderabad will be witnessing the largest number of malls expansion and will double its inventory.
However, it is important that the malls are professionally managed and are well looked after. It will not just be blind scouting for malls but a lot behind it. Since its going to be a big player in the economy it will be worthwhile to see that how it contributes to our growth trajectory.