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ICRIER Begins Survey of Indian Retail Sector

Add comment   |   March 19, 2007    03:17pm   |Contributed by Indian Realty News

Acting on the advice of commerce ministry, Indian Council of Research in International Economic Relations (ICRIER) has begun the task of studying the impact of organized retailers that have seen swarming of malls lately, on the “mom-n-pop stores” in 20 Indian cities .

Confirming about the survey, ICRIER’s Dirctor, Rajiv Kumar, said they are carrying out survey among consumers, retailers, and malls across India in two phases. In the first phase, the study will be conducted in 20 cities that already have malls.

While, in the second phase, ICRIER will study the response of small shops and consumers in cities where organised retail is at an early stage.

This retail survey is the result of a letter sent by UPA Chairperson Sonia Gandhi’s to the Prime Minister’s Office (PMO) where she had expressed concern over the impact of multinational retail chains on small retailers.

For conducting the studies, ICRIER will be taking the help of Development and Research Services and Technopak.

However, talking about the nature of his company’s work in the ongoing survey, Technopak Vice-President Preeti Reddy, said that his firm has been selected for this project for its deep knowledge about the Indian retail sector and will be providing advisory services for the study.

According to Technopak’s data, the organized retail market is growing at 35 percent annually while growth of unorganized retail sector is pegged at 6 percent. With 15-times increase from 2002 to 2010, share of organized retail is estimated to be at 20 percent of total retail trade.

Where as, the Indian organized retail market is valued at $6 billion that accounts for approximately 3 percent of the total retail market.

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