page_title: Retailing in India
section_title: Growth
hierarchical_section_title: Retailing in India / Growth
caption_attribution_description: English: Big Bazaar, Sarkhej Gandhinagar Highway, Ahmedabad, Gujarat, India
context_page_description: Retailing in India is one of the pillars of its economy and accounts for about 10 percent of its GDP. The Indian retail market is estimated to be US$ 600 billion and one of the top five retail markets in the world by economic value. India is one of the fastest growing retail markets in the world, with 1.2 billion people.
  As of 2003, India's retailing industry was essentially owner manned small shops. In 2010, larger format convenience stores and supermarkets accounted for about 4 percent of the industry, and these were present only in large urban centers. India's retail and logistics industry employs about 40 million Indians.
  Until 2011, Indian central government denied foreign direct investment in multi-brand retail, forbidding foreign groups from any ownership in supermarkets, convenience stores or any retail outlets. Even single-brand retail was limited to 51% ownership and a bureaucratic process.
  In November 2011, India's central government announced retail reforms for both multi-brand stores and single-brand stores.
caption: An organised retail store in Ahmedabad (ca. 2009)
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