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India's Retail Market Grows 10 Percent In 2014

December 21, 2014: 12:00 AM EST
India's retail market grew 10 percent to $560 billion in 2014, compared with the market size in 2013, according to industry estimates. By 2020, the retail sector is forecast to reach $1 trillion in estimated value. India's new government, which took power in May 2014, virtually suspended the previous government's FDI policy allowing foreign retailers to own up to 51 percent of retail operations in the country. This prompted Wal-Mart to put its expansion plans on hold, while French retailer Carrefour shut down its wholesale operations and left the Indian market. According to some industry observers, India must improve its FDI policy to encourage foreign retailers to come and launch their operations in the country. This will help the market reach its target of $1 trillion in value sooner.
"Retail grows to $560 billion in 2014; FDI hopes hang in balance", Economic Times, December 21, 2014, © Times Internet Limited
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