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South better organised than the country average: Study

Bangalore June 1 With organised retail growing at an annual average of 45 per cent, the retail industry is gaining higher weightage in the overall sectoral employment outlook ranking.

The retail, media and FMCG sectors together score highest with eight points in the 2006 Retail Labour Index followed by the infrastructure sector (7 points), said a study `South India Retail & Realty Report: 2015 and Beyond', conducted by Images F&R Research, with real estate services firm Cushman & Wakefield as its knowledge partner, released by the Governor of Karnataka, Mr T.N. Chaturvedi, here.

The report deals with the southern retail market in its entirety, with special focus on the food and apparel retailing segments, besides exploring the real estate market in the South.

The retail market in South India is valued at Rs 2.62 lakh crore (at 2006 current prices). Of this, the size of the organised retail market in 2006 stood at Rs 12,825 crore, comprising 4.9 per cent of the total retail market.

In nine out of 13 retail categories, the southern market is better organised than the country average.

Organised retail

Of the southern States, the organised retail constituent is the largest in Karnataka (5.3 per cent), followed by Kerala (4.8 per cent), Andhra Pradesh and Tamil Nadu (4.7 per cent).

Food and grocery is the largest retail category (South India - Rs 1.62 lakh crore; all-India - Rs 7.43 lakh crore), of which 1.2 per cent is organised in the South against 0.8 per cent for all-India.

Fashion is the largest category in the organised retail segment valued at Rs 4,665 crore, and comprising 19 per cent of the organised market share in the South.

The report adds that by the end of the financial year, an estimated 100-million-sq-ft quality shopping centre space is expected to generate retail sales of over Rs 50,000 crore ($11 billion). Concurrent with the growth in organised retail, the present two-sq-ft-per-capita retailing space will rise by 15-20 per cent by 2010.

Employment

There are about 15 million retail units in the country, including the paan (betel leaves) stalls and neighbourhood kirana stores, and about 50 million people are dependent for their livelihood on these.

Retail and wholesale thus absorb 8.7 per cent of the country's total workforce. South India employs nearly 21.5 per cent of the 50 million people engaged in retail and wholesale. Future projections show that retail will generate nearly 11 million additional jobs across the country by 2010, when the share of retail in total employed will go up to 9.9 per cent (equivalent to 60.6 million).

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