India's retail market is likely to touch a whopping Rs. 47 lakh crore by 2016-17, expanding at a compounded annual growth rate of 15 per cent, a Yes Bank-Assocham study says. Organized retail, which comprised a meagre seven per cent of overall retail market in 2011-12 is estimated to grow at a CAGR of 24 per cent and attain 10.2 per cent share of total retail by 2016-17. On the supply side, retail sector growth will be backed by expansion plans of existing players and the entry of new players, the study said.
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