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New Delhi, April 25 Delhi is emerging as a prime destination for shopping in the country. The presence of a large number of students and tourists here will give an impetus to the retail industry in the city, which must gear up for it, said experts here.

Speaking at the retail symposium ‘Making Delhi a Global Retail Destination’, organised by the Confederation of Indian Industries, the Minister of State for Industries, Mr Ashwani Kumar, said: “Delhi is India’s largest consumer market with the highest concentration of households with an annual income of $110,000 and per capita income more than double the national average”.

He said Delhi will grow to be a major retail destination in the future. “A family in Delhi spends Rs 2.1 lakh 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 a bigger retail industry. As the benefit of economic liberalisation spreads and more and more people will rise above the poverty line, retail activities will gain momentum,” the Minister said, highlighting that the country won’t be hard hit by the global slowdown as 95 per cent of growth is driven by domestic consumption.

Mr Sanjay Verma, Executive Managing Director, South Asia, Cushman & Wakefield, called on retailers and developers to collaborate to make the shopping experience hassle-free. He suggested that retailers should also work closely to come up with formats suitable for customers.

Mr Nilesh Ved, CEO, Apparel Group, called on retailers and the Government to learn from the experience of Dubai. He said India needs more retail space and the retailers need support from landlords and the Government.

Mr Pranay Sinha, Conference Chairman, Retail Symposium 2008, said, “Delhi has all the ingredients to become a world-class city. In view of the Commonwealth Games, we need to transform the city. Retail industry can play a critical role in transforming it”.

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