India to be largest retail industry

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Confederation of Indian Industry (CII) organized an international conference on `Private Labeling in Food – Gaining Shelf Space and Market Space’ with Tech 2006 in Chandigarh. Experts participating in the conference unanimously agreed that the Indian retail industry is likely to become the largest in the world.

Managing Director of Mega Food Company, Amit Vaishnav reiterated that modern retail in India accounts for approximately 36 per cent of the retail industry just in a decade’s time, and is expected to cross 70 per cent by 2020. An estimated 10,000 new retail stores are expected to come up, which would approximately cover 2.5 lakh sq feet.

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