|Sexy at Sixty
Sixty years after India cast out colonial rule, the world is taking note of India’s transformation into a world power. India is the 4th largest economy in the world after USA, China & Japan in terms of purchasing power parity and within a matter of few years it is all set to be the 3rd largest economy in terms of GDP and among the top 10 FDI destinations in the world.
Over the last few years, retail has become one of the fastest growing sectors in the Indian economy with organized retail growing at over 30%. About 65% of the population is younger than 35 and is in the right age for the mall experience.
There is an overwhelming acceptance of modern retail formats across the country, which in turn is fuelling several local players to enter the market with an international flavor. There is no doubt that there is tremendous opportunity in this new high growth industry. In the past few years, some of the world's leading brands such as Audi, Rosenthal, Louis Vuitton and Porsche have made their presence felt in the country.
With positive interventions from the government facilitating the retail industry, the future of the retail segment in India looks bright.