In accordance with the Knight Frank & Retailers Association of India “Think India. Think Retail. 2016” report, Mumbai Metropolitan Metro has the highest potential for modern retail in the country at Rs 1.05 lakh crore.
- Mumbai Metropolitan Metro is followed by Delhi National Capital Region, which has total potential of Rs 77,900 crore and Bengaluru is third in the list, with potential of Rs 48,600 crore.
India’s Growth Potential in Retail Sector:
In Mumbai, modern retail is set to upgrade from the current 13.5% to 50% by 2036 and 26% to 50% by 2028 in NCR and from 24% to 50% in 2026 in Bengaluru.
- Market potential of daily needs supermarkets and hypermarkets is pegged at Rs 58,800 crore in Mumbai, Rs 51,200 crore in NCR and Rs 24,300 crore in Bengaluru.
But as compared to international market, India’s potential is extremely low at 19% compared to US, Singapore and China, where the figures are 84%, 71% and 63% respectively.
About Knight Frank
Headquartered in London, Knight Frank is a global real estate consultancy with an integrated prime commercial and residential offering, operating in key hubs across the globe.
- It has over 417 offices in 58 countries, employing more than 13,000 professionals and spanning 5 continents.
It provides the highest standards of quality and integrity in global residential and commercial property advisory services.