Retailigence

“Club of Knowledge Hunters”

Indian jewellery retail worth Rs.694 billion ($14.9 bn)

Posted by superstar23 on September 22, 2008

In 2007, amongst the high earning retail sectors in the Indian retail industry, the jewellery retail sector dipped one slot lower to fourth position totaling Rs.694 billion ($14.9 bn), as per 2009 edition of India Retail Report. The report indicated a 9.6 percent increase in the overall market growth of the jewellery retail segment in 2007, while in 2006 it was 9.2 percent. However, growth in organised sector of jewellery retail was 31 percent in 2007, slightly lower than 2006.

The Indian retail market in 2007 was worth Rs.13.3 trillion ($287 bn), gaining 10.8 percent on year-on-year basis. Organised retail amounted to nearly 6 percent or Rs.783 billion ($17 bn) of the total Indian retail sector, and grew by 42.4 percent as compared to 2006. Of the entire retail market standing in 2007, jewellery occupied 5.2 percent share, food and grocery 59.5 percent share and valued at Rs.7.92 trillion ($171 bn), clothing and accessories 9.9 percent share or Rs.1.31 trillion ($28.3 bn) and out-of-home food (catering) services with a 5.4% market share at Rs.713 billion ($15.4 bn).

The report also indicated that the organised retail is expected to witness continued growth momentum over the next three years, as the international and Indian corporate firms are entering retail in full swing.

The report also predicts the Indian retail market to grow to over Rs.18.1 trillion ($391 bn) by 2010, and within this orgainsed retail will occupy 13 percent share.

source:- diamondworld.net

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