Retail format space growing at 8 per cent in India

Chandigarh, Nov 24 (UNI) Emergence of organised retail format which is growing at the rate of eight percent in India at present from three per cent in 2003 will also impart boost to the Indian textile industry.

From two million square feet in 2001, India had 28 million square feet space last year, Mr J N Singh Textile Commissioner said while refering to the retail format space in the country at the inaugural session of the two-day 62nd All India Textile Conference here today.

He pointed out that the retail format space was growing exponentially now, with the entry of Reliance, Tata with Woolwoarth (Croma), expansion plans of Future Group and proposal of Aditya Birla. In every new retail format there is approximately 40-50 per cent space for textiles and garments section, he added.

Mr Singh said textile was emerging as the second important sector after agriculture in India. It contributes four per cent to the GDP, 14 per cent of the total industrial production and 15 per cent of the total exports.

The sector provides direct and indirect employment to 35 million people across the country. Indian market size is growing day by day, particularly domestic market is growing at twice the pace compared to exports, he pointed out.

Fabric production had grown at the rate of 9 per cent in 2005-06 and was expected to grow at the rate of 12 per cent by 2010, the Textile Commissioner said.

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