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Retail seen hitting $500 bn by 2010

Consultancy firm A T Kearney has projected a 11-12 per cent compounded annual growth rate for the Indian retail sector, up from the current level of 7-8 per cent, which will accelerate sales to $504 billion by 2010.

By: PTI | Mumbai |
November 30, 2006 1:06:21 am

Consultancy firm A T Kearney has projected a 11-12 per cent compounded annual growth rate (CAGR) for the Indian retail sector, up from the current level of 7-8 per cent, which will accelerate sales to $504 billion by 2010.

“If key issues that come in way of retail growth are addressed, we believe India can achieve a CAGR of 11-12 per cent which will add $80 billion in GDP as incremental revenue,” AT Kearney principal, consumer industries & retail practice, Hemant Kalbag, pointed out from the CII-A T Kearney report released today.

The 10 key issues highlighted in the report include underdeveloped supply chains with reference to underdeveloped logistics infrastructure, absence of national cold chain networks. Other critical issues include inadequate utilities, and taxation and human resource hurdles.

Pointing towards policy issues, the report says the government should grant industry status to retail. “The industry faces hurdle in financing leading to high interest rate for retail, pushing up the capital cost and thus it is imperative that government grants industry status to retail,” the report states.

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The reports suggests a reduced license requirement for starting retail operations and amendment of Agricultural Produce Marketing Committee Act (APMC) that would pave the way for contract farming.

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First published on: 30-11-2006 at 01:06:21 am

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