Food & grocery retail, two-thirds of the US$600bn retail market, has had a roller-coaster ride in India. The start was euphoric, which attracted leading corporate houses, global retailers and entrepreneurs.But events took an ugly turn as the rush to create capacities led to years of struggle and a few businesses collapsed. The realisation was clear: grocery retail is among the toughest retail models to crack and requires a disciplined approach. With this learning set firmly in the minds of the players, today the industry is at US$15bn and despite a calibrated approach, the market will grow at 25-30% to reach US$90bn by 2025 – looks high but not our estimate; experts say so – who are we to challenge!
