Buoyed by improving market sentiment coupled with increased consumer spending, Indian retailers are once again chalking out their expansion plans, providing a big boost to the Indian retail sector.

After a long wait and a poised market, things have started looking better in the Indian retail space. The mood of the market has been upbeat, reflective of the sustained economic growth, with increased consumer sentiment as well as fast expanding organized retail market. All the top retailers, such as Kishore Biyani's Pantaloon, Raheja-owned Shopper's Stop, Aditya Birla's More and Mukesh Ambani's Reliance Retail, Tata's Trent and RPG's Spencer's Retail have witnessed increased footfalls and hence are busy scaling up their operations. In fact, though Indian retailers witnessed a recovery from the economic slowdown, the recessionary phase has been a learning period for all of them. Consequently, retailers are becoming more cautious in their approach towards retail space and are more conscious of footfalls, tenant mix and conversion rates before committing to retail space options.

Comprising of organized and unorganized sectors, Indian retail industry is one of the fastest growing industries in India, especially over the last few years. Indian retail is the fifth largest in the world that is set to grow at 25-30% annually and accounts for 35% of the GDP. According to the 2009 Global Retail Development Index (GRDI) released by US-based global management consulting firm A T Kearney, India has emerged as the most attractive destination for the retail investment among 30 other nations for the fourth time in five years. According to The Analyst 500 ranking of 2010, based on net income, Pantaloons Retail India Ltd. topped the league chart with approximately 20% increase in net sales over the previous year. Shopper's Stop Ltd., occupied the second place with 13% increase in net income.

The year 2009-10 seems to have been brighter for the retail industry; it has recovered from the economic slowdown. The year has boosted the retailer's confidence who began to chalk out future strategic plans. Retailers have stepped into bargains, discount offers and other packages to attract customers, despite being hit by inflation and spiraling of prices.

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