Abstract

The origin of retail business in India can be traced back to the emergence of Kirana (Mom-and-Pop) stores in the nineteenth century, although India has been a leading nation in international trade since the fourth century B.C. Today, retailing in India has a huge impact on its economy, accounting for over 10% of GDP and around 8% of all employment and is one of the top five retail markets in the world by economic value. The Indian retail sector is likely to grow at a CAGR of 23% to reach US$1 trillion by 2020–1. Modern retailing is expected to grow three times from its present share of 11% at US$66 billion to 21% of the overall retail market reaching US$210 billion by 2020– 1 with traditional retailing also growing at 10% per annum. India is also expected to become the world’s fastest growing e-commerce market by 2020–1.