Boston, MA -- (SBWire) -- 08/08/2013 --In September 2012, in what might be in time remembered as the most significant global retail event of the year, India finally opened up its retail industry to foreign investors, potentially paving the way for the likes of Carrefour, Tesco and Walmart to enter what is a potentially outstanding retail opportunity. The new legislation has been met very favourably by the pro-business lobby, which has grown frustrated at how long it has taken India to pass this legislation, especially after some false hopes, including most recently in late 2011 when the government reversed its decision to allow foreign retailers to invest in controlling stakes. We believe Walmart to be the strong favourite to lead investment in India over the next few years, ahead of Carrefour and Tesco who, as we have argued previously, are preoccupied with sorting out their domestic businesses.
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Headline Industry Forecasts (local currency)
- 2013 food consumption growth = +6.6%; five-year compound annual growth rate (CAGR) 2012-2017 = +7.3%.
- 2013 alcoholic drink value sales growth = +12.6%; CAGR to 2017 = +13%.
- 2013 soft drink value sales growth = +17.8%; CAGR to 2017 = +16.3%.
- 2013 mass grocery retail sales = +16.6%; CAGR to 2017 = +14.3%.
Key Company Trends
Unilever Raises The Stakes With US$5.4bn Investment: In April 2013, it was reported that the consumer staples giant Unilever was committing an additional US$5.4bn to India via the purchase of a further 22.5% stake in subsidiary Hindustan Unilever, taking its overall shareholding to 75%. Apart from giving Unilever greater claim to its subsidiary's earnings and therefore a larger slice of a pie that is expected to grow quite considerably over the next few years, the move will give Unilever more strategic control within the country.
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India Food & Drink Report Q3 2013 - New Market Study Published
New Food market report from Business Monitor International: "India Food & Drink Report Q3 2013"