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ICRIER starts surveying the Indian Retail Sector

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According to the sources available with www.propertykhazana.com, on recommendation of commerce ministry the Indian Council of Research in International Economic Relations (ICRIER) has started the task of studying the effect of planned retailers which has seen teeming of malls on the ‘mom-n-pop stores’ in 20 Indian cities. Verifying about the survey, Rajiv Kumar Director of ICRIER’s said the www.propertykhazana.com that the “Survey is going on between consumers, retailers and malls across the country in 2 phases. 1st phase study will be performed in 20 cities which has the malls, as 2nd phase ICRIER will study the reply of petite shops and consumers in cities where the planned retail is at the early stage.” Retail survey is the outcome of a letter sent by the UPA president Sonia Gandhi to the Prime Minister’s Office as she had uttered anxiety over the crash of multinational retail chains on petite retailers.
ICRIER will assist the Development and Research Services and Technopak for performing the studies. But, discussing regarding the nature of company’s work in the enduring survey, Technopak President Preeti Reddy said to www.propertykhazana.com that, “Her firm was selected for this project for its yawning knowledge about the Indian Retail Segment and will be giving optional services for the study. As per to the Technopak’s facts, the planned retail market is growing at 35% annually as unplanned at 6%. With 15 times hike from 2002-10 share of planned retail is expected to be 20% of the total retail trade. Indian retail market is at $6 Billion that accounts about 3% of the total.
Source: Press Trust Of India

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