Delhi - India’s hot favourite retail destinationApril 25th, 2008 - 10:11 pm ICT by admin
New Delhi, April 25 (IANS) With the Indian retail industry poised to become a $637 billion sector by 2015, the capital city is emerging as the largest consumer market in the country consisting of a booming middle class. Delhi has the highest concentration of households with an annual income of $110,000 and per capita income more than double the national average.
“Delhi is a destination for shopping across India besides its own consumption appetite. It is the principal business and commercial centre in northern India, well complemented by industrial areas in the National Capital Region,” Minister of State for Industry Ashwani Kumar said at a symposium organised by the Confederation of Indian Industry (CII) here.
Being the biggest consumption zone in northern India, Delhi has also emerged as a distinguished centre for trade, he said.
“A family in Delhi spends Rs.210,000 per annum on an average, while it saves Rs.50,000. As people prosper further, the savings will further go up, which will result in bigger retail industry,” the minister said underlining the importance of the industry in creating employment opportunities.
Tags: appetite, concentration, confederation of indian industry, consumption, delhi india, employment opportunities, households, india delhi, industrial areas, middle class, minister of state, national capital region, New Delhi, northern india, principal business, retail destination, retail industry, shopping, symposium