India should be able to accommodate at least 6-7 big retail players, considering that the country’s organised retail market is likely to grow to $100 billion in the next 3-4 years, Bharti Enterprises Vice-Chairman Rajan Mittal said today.
“The retail market is projected to be about $500 billion in another 3-4 years, and if organised retail has to pick up 20 per cent of that you are talking about $100 billion between a few players,” Mittal said.
“India has sustainability for few players... Difficult for me to suggest... I think 6-7 players, if not more,” he added, saying that “co-existence” will happen like one sees in international markets where you see many players.
Mittal, who focuses on the group’s Bharti Retail business, said that organised retail in the country was just about 4-5 per cent and it is yet to expand and take shape. Bharti Retail commenced operations last year and is looking at opening 40 new stores, called Easy Day, by December, in the National Capital Region.
