In the current scenario, organized retailing has finally emerged from the shadows of unorganized retailing and is contributing significantly to the growth of the Indian retail sector. India's organized retail market is likely to grow from the current $4 bn (2.1% of total relevant consumer spending) to $64 bn (10.8%) by financial year 2015. In such a situation, organized retailing in India poses a challenge to HRD. In this context, it is extremely important to understand certain issues that will successfully have a far-reaching impact on effective handling of HRD.
Retailing is selling products and services to consumers for personal use. It is responsible for matching the individual demands of the consumer with vast quantity of supplies produced by a huge range of manufactures, which leads to the economic prosperity of consumers.
The Indian retail industry has seen phenomenal growth in the last five years. Organized retailing has finally emerged from the shadows of unorganized retailing and is contributing remarkably for the growth of Indian retailing. According to the Indian Retail Sector Analysis (2006-2007) report, total market for the Indian retail industry (broadly divided into organized and unorganized retail sectors) amounts to Rs. 10 mn in 2005. |
