While franchising in India has been growing at a rate of 30 - 35% over the last 4-5 years, it is now at a take-off stage. Currently, more than 750 national and international franchisors operate in India. This alone provides direct employment to over 3,00,000 people, with an annual turnover of approximately US $ 3.3 billion, and growing at an exponential rate.

With the saturation in western retail markets, large western retailers like Wal-Mart and Tesco have plans to enter the Indian market. Indian retail giants like Reliance and the Future Group are set to storm the already booming retail space.

India's retail industry accounts for 10 percent of its GDP and 8 percent of the employment, and is expected to reach $17 billion by 2010. About 300 new malls, 1,500 supermarkets and 325 departmental stores are being built across India, which are either operational, or will be operational very soon.

With the shopping revolution in the country, a large population between 20- 34 age groups in the urban regions has boosted demand by 11.1 percent in 2004-05 to a Rs 23,308 per capita purchasing power. India has seen huge international retail investments and more liberal FDI. The time is ripe with unprecedented opportunities for budding entrepreneurs to venture into new businesses with leading retailers across the country.

Licensing in India is another powerful contemporary forms of marketing and extension of western brands and it is growing at a fast pace. More than manufacturing, it is licensing today that works wonders in terms of money for some companies like Harley-Davidson and Nathan's.

*Source: Academy Asia Pacific Retailing