Global and Internation Business Context

SM0269

GLOBAL AND INTERNATION BUSINESS CONTEXT

Quek Ee Seng

CT0169753

Student ID: 14042075

Words Count: 3439

INTRODUCTION

India has an estimated population of 1.24 billion and has become one of the most attractive emerging markets. The food retail market is still dominated by small outlets with rising incomes. Rise in population, changing customer preferences and emerging economies are making way for the food retail industry. About 1.5 billion households globally would be in the middle-class category by year 2020.

India’s food retail industry is the largest among all other industries. The food retail industry in India has the most dynamic and fast paced industries attracting several players entering the market but none has really achieve success because of the high investment cost. In India, the vast middle-class group and its almost untapped retail industry are the key attractive factor for global retail players such as Walmart and Giant wanting to enter into the untapped market, which will help the India Retail Industry to grow faster.

India’s retail market is expected a growth of 25 percent annually. Modern retail in India could be worth US$ 175-200 billion by 2016. The Food Retail Industry in India is one of the most potentially market globally. The future of the India Food Retail Industry is a potentially growing market, with the support of government, new policies that is becoming more favorable and the emerging technologies facilitating operations.

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