The Indian retail industry is poised to grow from USD 322 billion to USD 590 billion in 2011-12. It is set to enter a new growth trajectory owing to rising household incomes, increased discretionary spending power and an expanding middle class of consumers, among other factors. Across the developed world, the organized retail sector and the retail behemoths play a significantly large role in economic and social transformation. From controlling the impact of inflation, to catalyzing domestic consumption, from spurring economic activity to supporting the growth of small and medium enterprises, large retailers shape macro-economic trends in developed economies.

In addition, they provide huge direct and indirect employment opportunities. Among the list of fifty largest employers in the world-a list largely dominated by the state-owned utilities-there are eight retailers. The retail industry is now re-engineering itself to prioritize the demands of the consumer through a host of different arrangements. The entire value chain and the retail ecosystem are changing and this change needs to be properly channelized in order to meet the expectation of all segments of society. The need of the hour is therefore to develop a collaborative platform among retailers and other stakeholders that facilitate further growth of the sector. We need to focus on creating an inclusive model that brings more consumers into the fold of modern retail.