The Hindu : Karnataka / Bangalore News : Wal-Mart coming to India next year

Online edition of India's National Newspaper
Saturday, Nov 24, 2007
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Karnataka

Karnataka - Bangalore

Wal-Mart coming to India next year

Special Correspondent

BANGALORE: The U.S.-based international chain of superstores, Wal-Mart, will enter the Indian market in 2008. International experts on retailing estimate that the retail business turnover in India would be to the tune of Rs. 200,000 crore by 2010, which was likely to grow to Rs. 900,000 crore by 2025.

These details came up for discussion during a business seminar organised by the Ramms J.C. Williams group held here on Friday. India will soon see a revolution in retail marketing. The growth had already begun as statistics for the year 2007 have shown. The retail sector recorded 37 per cent growth in 2007 and it was estimated to go up by 46 per cent in 2008.

Giving details at a business seminar, R. Kannan, senior partner of Ramms J.C. Williams group, stated that India would have 87.8 million sq. ft. under malls by 2008. He said shoppers in the country were now looking for better shopping environment and exploring the options available to them in determining the cost of the goods and services.

He said business establishments in malls would do well to compete in the value aspect rather than the cost aspect. He said the future customers, especially those from the middle class, would have more income at their disposal which they would use to buy quality and value goods rather than cost-effective goods.

The seminar featured a talk by senior retail expert from the United States, John Williams, who outlined the entry of Wal-Mart into India in 2008.

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