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Even as most countries attracted less foreign direct investment last year, investment in India surged on hope its economy is set for take off.
- The Indian retail industry has experienced tremendous growth over the last decade with a significant shift towards organised retailing format and development taking place not just in major cities and metros, but also in Tier II and Tier III cities.
- The overall retail market in India is likely to reach $792.84 billion by 2017.
- The Indian retail market, currently estimated at around $490 billion, is project to grow at a compound annual growth rate (CAGR) of 6% to reach $865 billion by 2023.
- Food and grocery is the largest category within the retail sector with 60% share followed by the apparel and mobile segment.
- Organised retail, which constituted 7%t of total retail in 2011–2012 is estimated to grow at a CAGR of 24% and attain 10.2% share of total retail by 2016–2017.
- India has about one million online retailers – small and large – which sell their products through various e-commerce portals.
- The online retail industry in the country touched $12.6 billion in 2013, according to a recent report by the Internet and Mobile Association of India (IAMAI).
- The foreign direct investment (FDI) inflows in single-brand retail trading during the period April 2000 – March 2014 stood at $106.66 million.