Retail sector in Tier-II and III cities has received higher investment than that to Tier-I cities in India, during the last 10 years. The report identified 20 cities including Tier-II cities such as Lucknow, Jaipur, Chandigarh, Kochi, Patna, Bhubaneshwar, Indore and Nagpur among the leading cities, as the next retail destinations in the country. However, on the other hand, Tier-I cities are witnessing withdrawal of malls. These factors have become a deterrent for expansion and growth of malls in metropolitan or Tier-I cities. It is for this reason, retailers and private equity firms have started taking an increased interest in Indian retail sector through investments in high-end retail malls in Tier-II and III cities.”

Source: dna December 05, 2017 10:22 UTC