Assocham predicts 36 per cent growth for retail sector by '08

New Delhi: According to a study by industry chamber, 'Retail and it Prospects,' the overall retail market is expected to grow by 36 per cent by 2008 while the organised sector will grow three-fold to Rs15,000 crore by 2008.

The total size of the market is expected to increase to Rs14,79,000 crore from the current level of Rs5,88,000 crore.

Assocham said that the unorgansied retail sector would continue to have its edge over the organsied sector, as the government is yet to decide on opening up of the sector for foreign direct investment.

The study said of the entire retail sector estimated at Rs5,88,000 crore, the unorgansied market is worth Rs5,83,000 crore. The organised sector, which accounts for Rs5,000 crore, would touch Rs1,60,000 crore by 2008, the study said.