Organized Food Retail Driving the Agriculture Sector in India
IMARC Group, one of the world’s leading research and advisory firms, finds that the agriculture market in India is expected to grow robustly in the coming years reaching sales worth INR 42,707 Billion by 2017-18. Findings from the report suggest that a number of factors are currently inducing a major transformation in this sector. These include – a newfound interest of the organized sector, new and improved technologies, farming becoming more mechanized, new markets and demands, easy credit facilities, rapid growth of contract farming, agriculture friendly policies from the government, etc.
The report finds that, although currently small, the Indian organized food retail market has immense potential. The total market for organized food retail was worth INR 221 Billion in 2011-12 and is expected to grow at a CAGR of around 14% reaching revenues worth INR 477 Billion by 2017-18. Organized food retail outlets such as Reliance, Vishal Mega Mart, Spencer Retail, Future Group, etc, have now opened their outlets not only in the metros but also in the smaller cities of India. Organized retail outlets are currently offering consumers an access to a diversified range of products directly or indirectly related to the agriculture sector. The report expects an access to a very wide range of products coupled with attractive discounts to create a positive impact on the agriculture sector in India.
IMARC Group’s new report entitled -Indian Agriculture Market Report & Forecast: 2012-2017- provides an analytical and statistical insight into the agriculture industry along with its various segments and sub-segments. The study that has been undertaken using both desk-based and qualitative primary research has analyzed various aspects and provides a comprehensive understanding of the Indian agriculture market. The report can serve as an excellent guide for investors, researchers, consultants, marketing strategists, and all those who are looking to foray into the Indian agriculture market in some form or the other.
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