India’s first international modern grocery retail store opened in Mumbai in the year 2006. A lot has changed since then. Today, the country has more than 400 such Hyper-markets. The retail market has grown more competitive in the recent years and this has forced retailers to provide better customer-oriented services. While the modern retail market accounts for only 2% of the entire market, but the customer base is growing fast.
UN forecasts show that India will exceed China in terms of population by the year 2028. Food requirement in the country is expected to rise steeply. IGD estimates that the country’s grocery market value will grow by 118% to $847.9bn by 2020.