India
- Land area
- 3,287,000 km2
- Population
- 1.26 billion
- Currency
- Indian rupee [INR]
With almost 1.3 billion people, India is the second most densely populated country on earth, next to China. The multi-ethnic nation is seen as a developing economy and occupies a key position in Asia. The size of the population and the projected demographic growth make India an attractive market for both foreign and domestic suppliers. However, the country is still shaped by major social contrasts: while the middle and upper classes are growing, over 800 million people still live below the poverty line. Battling this social imbalance is one of the greatest challenges for the country’s society, economy and politics.
The cautious opening of the Indian retail sector to foreign investors in 2012 has led to an increasingly dynamic expansion of modern formats. Today, there are supermarkets in many Indian cities. However, the retail sector remains largely in the hands of small businesses and family operations. Traditional neighbourhood stores (kiranas) continue to be important employers even today.