Indian retail industry has been undergoing a rapid transformation in the past few years. This article provides exhaustive information regarding Indian retail industry with special reference to its gradual transformation. It also identifies the key factors that attract global retail giants to enter the Indian markets, although it is still premature to say whether Indian retail market will imbibe the success of giants like Wal-Mart.

The pathbreaking vision of `global village' has become a reality today thanks to cross-border businesses. Education and a global exposure have contributed to the evolution of the Indian middle class. The purchasing and shopping habits of consumers are maturing. India has become a lucrative destination for global giants that have realized its vast potential with over 890 million people.

As India emerges as one of the attractive destination for global brands, retailers have invented a plethora of ways to attract customers. Therefore, manufacturers must capitalize on this ever-escalating trend so that youths can spend their purchasing power in a healthy way, contributing towards the overall development of the country.

Retailing means selling goods and services in small quantities. According to David Gilbert retailing is defined as "Any business that directs its marketing efforts towards satisfying the final consumer based upon the organization of selling goods and services as a means of distribution."

Indian Retail Industry, Indian Retail Market , Global Exposure , David Gilbert, Wal-Mart, Foreign Direct Investment, FDI, Banking in India, Finance in India, Property Law, Food and Grocery, National Council for Applied Economic Research, NCAER.