For decades, the Indian consumer walked into the kirana shops across the street, purchased his monthly requirements with scanty choice and walked back home with bulky bags. Not anymore.

Indian retail companies led by Kishore Biyani of Biz Bazaar, who laid the rules of the game, are set to entice Indian consumers with a wide choice of goods, air-conditioned ambience and as a one-stop shopping and entertainment destination. Little wonder, customers are lapping it up.

The stakes for retailers are getting higher. According to the Tata Management Consultancy Group, in the next 10 years the Indian retail industry would grow at a rate of 5.5 per cent. Of this, the organised retail market would grow much faster at 21.8 per cent to become a Rs 2,46,000 crore industry.

The top five organised retail categories by 2015 would be food, grocery and general merchandise, apparel, durables, food service and home improvement. No wonder, every big player from the Ambanis, the Lalbhais to the Birlas are eyeing the growing income of Indian middle-class by targeting either one or all of the five retail segments.

With Reliance and the Tatas opening their first stores next week, customers can expect some big bang discounts during the coming festival season. Reliance officials are busy giving final touches to their Hyderabad stores, which will open next week, while the Tata's first consumer goods store in Juhu will be open for business on Monday.

This will immediately reflect in existing organised players to bring down their prices to Big Boys levels. "As we have the option to export consumer durables from India to our partner in Australia, we will have a price advantage which we will pass it on to the consumers," promises Ajit Joshi, CEO of Tata Sons-owned Infinity Retail.

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