India's transit retail market to touch $22 billion in 10 years: Report

A report released by consultancy firm Knight Frank on Tuesday says that the transit retail market in India will grow tenfold in 10 years as the government modernises transport hubs and passenger traffic grows. The transit retail market will touch nearly $22 billion in 2030 from 2.2 billion now. Knight Frank also says that private operators of transport hubs including airports, metros, highways and bus stations are likely to see a threefold jump in lease rental opportunities in a decade as monetisation potential increases. The current lease rental opportunity at transport hubs is pegged at $1 billion by Knight Frank. The consultancy says that the spurt in lease rentals will open up a new revenue stream for operators, who are currently dependent mainly on passenger fares.