Structural Changes in Indian Retail Market: from Unorganised to Organised

In India during the time of beginning there were only kirana stores called Mom and Pop stores, the friendly negihbourhood stores selling day needs. In the 1980s manufacturer's retail chains like DCM, Gwalior Suitings, Bombay Dying, Titan etc started making its manifestation in metros and small towns. Multi brands retailers came into the depiction in 1990s.India has the highest shop density in the world and the present retail market in India is estimated to be US$200 billion of which only 3%(around US$64 billion) is in the organized sector. This organized retail sector is poised for a take off. AT Kearney ranks India second in the global retail development index out of 30 nations. The increasing purchase power of the great Indian middle class is the major reason for retail sprint that is being witnessed. The percentage of young people in the country is increasing. It portends well for the retail business, as it is the young people who buy more than the old. Again the percentage of women in the population is showing an increasing trend. Organinsed retail market boom is expected to create the much-needed mass employment. It will upgrade India's layer second and third tier cities to international standard. While this boom addresses India's basic infrastructure challenges to create demand for the product of rural India and a more efficient agricultural sector. The organized retail market boom is expected to bring positive outcomes in may of sectors like economic growth, exports, education, IT industry, food processing, infrastructure, banking, tourism, management along with the greater customer satisfaction. This paper focuses a clear picture of looming retail boom through the form of organized retail format. It gives a glance of the progress organized retail format and its positive and negative impact in Indian economy.