India's Retail Revolution: 50% Growth Expected in Retail Space by 2025
India's retail sector is on the cusp of a massive expansion, with a projected 50% increase in retail space by 2025.
Retail SpaceIndiaReal EstateDelhi NcrMumbaiReal Estate MaharashtraJun 06, 2024
The growth of organized retail in India has been remarkable, with a plethora of international brands entering the market. The ease of doing business, coupled with the relaxation of FDI norms, has made India an attractive destination for global retailers. The Indian government's initiatives, such as the 'Make in India' and 'Smart Cities' programs, are also expected to boost retail growth.
The demand for retail space is expected to be driven by the food and beverage, fashion, and entertainment segments. The rise of e-commerce has also led to an increased demand for logistics and warehousing facilities. As a result, developers are focusing on creating mixed-use development projects that integrate retail, office, and residential spaces.
Delhi NCR and Mumbai are expected to be the top markets, accounting for over 50% of the total retail supply. Other cities such as Bengaluru, Hyderabad, and Kolkata are also expected to witness significant growth.
The retail boom is also expected to create new job opportunities, with the sector projected to employ over 10 million people by 2025.
The Indian retail sector has undergone significant transformation over the past decade, driven by changing consumer behavior and the entry of international brands. The growth of organized retail has been remarkable, with players such as DLF, Unitech, and Phoenix Mills developing large-scale retail projects.
DLF Limited is a leading Indian real estate company, with a presence in various segments, including residential, commercial, and retail. Unitech Limited is another prominent real estate company, with a diverse portfolio of projects.
Phoenix Mills Limited is a leading retail real estate company, with a presence in major cities across India.
Frequently Asked Questions
What is the projected growth rate of retail space in India?
The retail space in India is expected to grow by nearly 50% by 2025.
Which cities are expected to be the top markets for retail space?
Delhi NCR and Mumbai are expected to be the top markets, accounting for over 50% of the total retail supply.
What is driving the demand for retail space in India?
The demand for retail space is expected to be driven by the food and beverage, fashion, and entertainment segments.
How many people are expected to be employed in the retail sector by 2025?
The retail sector is projected to employ over 10 million people by 2025.
What is the current retail stock in India?
The existing retail stock in India is 89 million square feet.
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