Foreign Direct Investment and Growth of Retail Sector in India

Retailing is defined as all activities involved in selling goods or services directly to final consumers for their personal, non-business use via shops, markets, door-to-door selling, mail order or over the internet, where the buyer intense to consume the product through personal, family or house hold dues. The retail sector of Indian economy is categorized into two segments as organized retail sector and unorganized retail sector with the later holding the larger share of the retail market. At present, the organized retail sector is catching up very fast. It has encouraged large private sector players to invest in this sector. The impact of the alterations in the format of the retail sector changed the lifestyle of the Indian consumers drastically. As customers taste and preferences are changing, the market scenario is also changing from time to time. With the onset of a globalized economy in India, the Indian consumer's psyche has been changed. Many foreign players have also entered India through different routes such as test marketing, franchising, and wholesale cash-and-carry operation.Thus, Political influence must leave their old outlook as overpowered by the Imperialism and government should foresee the future and rising demands of the country. Modern youth needs a respectable and comfortable job, quality education, rural areas need upbringing and urban areas need industrialization.This paper was published in Proceedings bearing ISBN: 978-93-5156-238-