CBRE: Positive signs for Indian retail in 2010

The Indian retail sector that has been reeling under the economic downturn will see a positive trend in consumer spending this year but its full recovery will take some time, according to global consultancy firm CB Richard Ellis. "Though 2009 started on a discouraging note for the retail sector, from third quarter onwards, some movement did take place...For 2010 we hope to see a positive trend in consumer spending," CBRE Chairman and MD South Asia Anshuman Magazine said, while issuing a report 'The India Retail Market View-Second Half, 2009'.  

He, however, cautioned that the sector will still take some time to fully recover. "This (full recovery) will depend on a number of factors, including economic growth and improvement in domestic consumption, consumer sentiment, availability of retail space at competitive costs and so on," Magazine said.