Retail Scenario in India : Touching Meteoric Scales As the corporates the Piramals, the Tatas, the Rahejas, ITC, S.Kumar's, RPG Enterprises, and mega retailers- Crosswords, Shopper's Stop, and Pantaloons race to revolutionize the retailing sector, retail as an industry in India is coming alive. Retail sales in India amounted to about Rs.7400 billion in 2002, expanded at an average annual rate of 7% during 1999-2002. With the upturn in economic growth during 2003, retail sales are also expected to expand at a higher pace of nearly 10%. Across the country, retail sales in real terms are predicted to rise more rapidly than consumer expenditure during 2003-08. The forecast growth in real retail sales during 2003- 2008 is 8.3% per
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No FDI restrictions in the retail sector pre-1997
51:49 JV between RPG and Dairy Farm International,
Leading food retailer in India now McDonalds.
POLITICAL:- In the wake of the Nandigram incident, West Bengal will have to work hard and move quickly to restore investor confidence, Union Minister of State for Commerce and Industries Jairam Ramesh has said. "No party can claim moral high ground now as the entire matter is reflective of the State's political milieu." He felt that for creating a new economic climate, the Buddhadeb Bhattacharjee Government needed to take the lead in transforming the State's political culture. He said industrialisation and SEZs should not be given a bad name due