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FDI in single brand retail to boost commercial space demand

Press Trust of India  |  New Delhi 

The government's decision to grant 100 per cent for single would boost demand for space from foreign brands looking to set up stores in India, according to property developers and consultants.

"Allowing 100 per cent in single trading is sure to boost the demand for in the country," Pacific group Executive said.

Stating that commercial properties have been in demand from last few years, he said the demand would further increase as lot of foreign players would like to open up direct stores in the country or look forward to handing out franchises to deserving players.

Pankaj Renjhen, Managing Director, Retail, JLL India, said the government's decision to grant 100 per cent for single retail is a major step in providing quantum growth to

"The timing for this announcement is significant as the is poised to receive significant real estate supply in the near future. After a prolonged period of slowdown in the over the last few years, we saw strong comeback with developers and investors betting high on the sector," he added.

As per industry estimates, Indian retail sector is pegged at Rs 1 trillion by 2020 at an estimated CAGR of 15 per cent, Renjhen said, adding that this move would be a strong catalyst for the sector to reach and exceed its potential in

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 10 2018. 18:25 IST