Mlip1549 0014

India - Agricultural Products 0102 - 2000 - 2014

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MarketLine Industry Profile

Agricultural Products in India February 2015

Reference Code: 0102-2000

Publication Date: February 2015

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EXECUTIVE SUMMARY

Market value The Indian agricultural products market grew by 3.6% in 2014 to reach a value of $116,211.7 million.

Market value forecast In 2019, the Indian agricultural products market is forecast to have a value of $144,405.8 million, an increase of 24.3%

since 2014.

Market volume The Indian agricultural products market grew by 4.2% in 2014 to reach a volume of 611.5 million units.

Market volume forecast In 2019, the Indian agricultural products market is forecast to have a volume of 711.5 million units, an increase of 16.3%

since 2014.

Category segmentation Cereals is the largest segment of the agricultural products market in India, accounting for 36.4% of the market's total

value.

Geography segmentation India accounts for 8% of the Asia-Pacific agricultural products market value.

Market rivalry Rivalry in the agricultural products market is driven up primarily by the large number of relatively undifferentiated players

operating in the sector. Rivalry is assessed as strong overall.



TABLE OF CONTENTS

Executive Summary..........................................................................................................................................................................2

Market value ..................................................................................................................................................................................2

Market value forecast...................................................................................................................................................................2

Market volume...............................................................................................................................................................................2

Market volume forecast ...............................................................................................................................................................2

Category segmentation................................................................................................................................................................2

Geography segmentation ............................................................................................................................................................2

Market rivalry .................................................................................................................................................................................2

Market Overview ...............................................................................................................................................................................7

Market definition............................................................................................................................................................................7

Market analysis .............................................................................................................................................................................7

Market Data........................................................................................................................................................................................8

Market value ..................................................................................................................................................................................8

Market volume...............................................................................................................................................................................9

Market Segmentation .....................................................................................................................................................................10

Category segmentation..............................................................................................................................................................10

Geography segmentation ..........................................................................................................................................................11

Market Outlook ................................................................................................................................................................................12

Market value forecast.................................................................................................................................................................12

Market volume forecast .............................................................................................................................................................13

Five Forces Analysis ......................................................................................................................................................................14

Summary ......................................................................................................................................................................................14

Buyer power.................................................................................................................................................................................15

Supplier power ............................................................................................................................................................................16

New entrants ...............................................................................................................................................................................17

Threat of substitutes...................................................................................................................................................................18

Degree of rivalry..........................................................................................................................................................................19

Leading Companies........................................................................................................................................................................20



Aditya Birla Group.......................................................................................................................................................................20

Apna Bazaar ................................................................................................................................................................................22

Margin Free Market ....................................................................................................................................................................23

Reliance Retail ............................................................................................................................................................................24

Macroeconomic Indicators.............................................................................................................................................................25

Country Data ...............................................................................................................................................................................25

Appendix...........................................................................................................................................................................................27

Methodology ................................................................................................................................................................................27

Related MarketLine research....................................................................................................................................................28



LIST OF TABLES

Table 1: India agricultural products market value: $ million, 2010–14(e) ................................................................................8

Table 2: India agricultural products market volume: million units, 2010–14(e).......................................................................9

Table 3: India agricultural products market category segmentation: $ million, 2014(e) ......................................................10

Table 4: India agricultural products market geography segmentation: $ million, 2014(e)...................................................11

Table 5: India agricultural products market value forecast: $ million, 2014–19 ....................................................................12

Table 6: India agricultural products market volume forecast: million units, 2014–19 ..........................................................13

Table 7: Aditya Birla Group: key facts .........................................................................................................................................20

Table 8: Apna Bazaar: key facts ...................................................................................................................................................22

Table 9: Margin Free Market: key facts .......................................................................................................................................23

Table 10: Reliance Retail: key facts .............................................................................................................................................24

Table 11: India size of population (million), 2010–14................................................................................................................25

Table 12: India gdp (constant 2005 prices, $ billion), 2010–14...............................................................................................25

Table 13: India gdp (current prices, $ billion), 2010–14 ...........................................................................................................25

Table 14: India inflation, 2010–14 ................................................................................................................................................26

Table 15: India consumer price index (absolute), 2010–14 .....................................................................................................26

Table 16: India exchange rate, 2010–14.....................................................................................................................................26



LIST OF FIGURES

Figure 1: India agricultural products market value: $ million, 2010–14(e) ...............................................................................8

Figure 2: India agricultural products market volume: million units, 2010–14(e) .....................................................................9

Figure 3: India agricultural products market category segmentation: % share, by value, 2014(e)....................................10

Figure 4: India agricultural products market geography segmentation: % share, by value, 2014(e) ................................11

Figure 5: India agricultural products market value forecast: $ million, 2014–19...................................................................12

Figure 6: India agricultural products market volume forecast: million units, 2014–19 .........................................................13

Figure 7: Forces driving competition in the agricultural products market in India, 2014 .....................................................14

Figure 8: Drivers of buyer power in the agricultural products market in India, 2014............................................................15

Figure 9: Drivers of supplier power in the agricultural products market in India, 2014........................................................16

Figure 10: Factors influencing the likelihood of new entrants in the agricultural products market in India, 2014 ...........17

Figure 11: Factors influencing the threat of substitutes in the agricultural products market in India, 2014 .....................18

Figure 12: Drivers of degree of rivalry in the agricultural products market in India, 2014...................................................19



MARKET OVERVIEW

Market definition The agricultural product market is considered here as having six segments: cereals (barley, wheat, maize, rice, etc); fruit,

vegetables, roots and tubers (apples, cabbages, potatoes, etc); oilcrops & pulses (lentils, soybeans, linseed, etc);

sugarcrops and sweeteners (represented here by raw and refined sugar expressed as raw sugar equivalent); spices and

stimulants (coffee, ginger, etc); and nuts (walnuts, almonds, etc).

It excludes livestock and poultry, fisheries, forestry, etc. The market volumes reflect supply (consumption) in each

country. No allowance is made for changes in stock levels, and forage crops and wastage are also not included.

Agricultural products are valued at producer prices. Any currency conversions included in this report have been

calculated using constant 2013 annual average exchange rates.

For the purposes of this report, Asia-Pacific comprises Australia, China, India, Indonesia, Japan, New Zealand,

Singapore, South Korea, Taiwan, and Thailand.

Market analysis The Indian agricultural products market saw a good rate of value growth and a modera te rate of volume growth overall

for the period 2010-2014. Steady growth is expected for the forecast period in both value and volume terms.

The Indian agricultural products market is expected to generate total revenues of $116.2bn in 2014, representing a

compound annual growth rate (CAGR) of 5.7% between 2010 and 2014. In comparison, the Chinese and Japanese

markets will grow with CAGRs of 11.1% and 2.9% respectively, over the same period, to reach respective values of

$1,062.5bn and $107.8bn in 2014.

Market consumption volume is forecast to increase with a CAGR of 2.5% between 2010 and 2014, to reach a total of

611.5 million units in 2014. The market's volume is expected to rise to 711.5 million units by the end of 2019,

representing a CAGR of 3.1% for the 2014-2019 period.

The cereals segment is expected to be the market's most lucrative in 2014, with total revenues of $42.3bn, equivalent to

36.4% of the market's overall value. The fruit, vegetables, roots & tubers segment will contribute revenues of $37.0 bn in

2014, equating to 31.8% of the market's aggregate value.

The performance of the market is forecast to decelerate, with an anticipated CAGR of 4.4% for the five -year period 2014

- 2019, which is expected to drive the market to a value of $144.4bn by the end of 2019. Comparatively, the Chinese and

Japanese markets will grow with CAGRs of 7.5% and 3% respectively, over the same period, to reach respective values

of $1,524.5bn and $125.0bn in 2019.



MARKET DATA

Market value The Indian agricultural products market grew by 3.6% in 2014 to reach a value of $116,211.7 million.

The compound annual growth rate of the market in the period 2010–14 was 5.7%.

Table 1: India agricultural products market value: $ million, 2010–14(e)

Year $ million Rs. million € million % Growth

2010 93,104.7 5,445,314.7 70,020.4

2011 106,240.4 6,213,565.3 79,899.2 14.1

2012 111,362.7 6,513,144.9 83,751.4 4.8

2013 112,192.5 6,561,680.1 84,375.5 0.7

2014(e) 116,211.7 6,796,746.9 87,398.2 3.6

CAGR: 2010–14 5.7%

SOURCE: MARKETLINE M A R K E T L I N E

Figure 1: India agricultural products market value: $ million, 2010–14(e)




Market volume The Indian agricultural products market grew by 4.2% in 2014 to reach a volume of 611.5 million units.

The compound annual growth rate of the market in the period 2010–14 was 2.5%.

Table 2: India agricultural products market volume: million units, 2010–14(e)

Year million units % Growth

2010 554.6

2011 584.6 5.4

2012 598.7 2.4

2013 587.0 -2.0

2014(e) 611.5 4.2

CAGR: 2010–14 2.5%


Figure 2: India agricultural products market volume: million units, 2010–14(e)




MARKET SEGMENTATION

Category segmentation Cereals is the largest segment of the agricultural products market in India, accounting for 36.4% of the market's total

value.

The Fruit, vegetables, roots & tubers segment accounts for a further 31.8% of the market.

Table 3: India agricultural products market category segmentation: $ million, 2014(e)

Category 2014 %

Cereals 42,296.9 36.4%

Fruit, vegetables, roots & tubers 36,994.4 31.8%

Oilcrops & pulses 21,114.9 18.2%

Nuts 6,471.0 5.6%

Sugarcrops & sweeteners 5,293.6 4.6%

Spices & stimulants 4,041.0 3.5%

Total 116,211.8 100%


Figure 3: India agricultural products market category segmentation: % share, by value, 2014(e)




Geography segmentation India accounts for 8% of the Asia-Pacific agricultural products market value.

China accounts for a further 73.3% of the Asia-Pacific market.

Table 4: India agricultural products market geography segmentation: $ million, 2014(e)

Geography 2014 %

China 1,062,548.1 73.3

India 116,211.7 8.0

Japan 107,823.4 7.4

South Korea 36,137.0 2.5

Rest of Asia-Pacific 126,600.2 8.7

Total 1,449,320.4 100%


Figure 4: India agricultural products market geography segmentation: % share, by value, 2014(e)




MARKET OUTLOOK

Market value forecast In 2019, the Indian agricultural products market is forecast to have a value of $144,405.8 million, an increase of 24.3%

since 2014.

The compound annual growth rate of the market in the period 2014–19 is predicted to be 4.4%.

Table 5: India agricultural products market value forecast: $ million, 2014–19

Year $ million Rs. million € million % Growth

2014 116,211.7 6,796,746.9 87,398.2 3.6%

2015 121,722.9 7,119,074.4 91,542.9 4.7%

2016 127,316.3 7,446,205.5 95,749.5 4.6%

2017 133,287.8 7,795,457.8 100,240.4 4.7%

2018 139,569.3 8,162,835.6 104,964.5 4.7%

2019 144,405.8 8,445,702.5 108,601.8 3.5%

CAGR: 2014–19 4.4%


Figure 5: India agricultural products market value forecast: $ million, 2014–19




Market volume forecast In 2019, the Indian agricultural products market is forecast to have a volume of 711.5 million units, an increase of 16.3%

since 2014.

The compound annual growth rate of the market in the period 2014–19 is predicted to be 3.1%.

Table 6: India agricultural products market volume forecast: million units, 2014–19

Year million units % Growth

2014 611.5 4.2%

2015 642.0 5.0%

2016 659.4 2.7%

2017 678.0 2.8%

2018 696.2 2.7%

2019 711.5 2.2%

CAGR: 2014–19 3.1%


Figure 6: India agricultural products market volume forecast: million units, 2014–19




FIVE FORCES ANALYSIS

The agricultural products market will be analyzed taking farming practices and producers as players. The key buyers will

be taken as grocery retailers and food processing companies, and fertilizer and machinery providers as the key

suppliers.

Summary

Figure 7: Forces driving competition in the agricultural products market in India, 2014


Rivalry in the agricultural products market is driven up primarily by the large number of relatively undifferentiated players

operating in the sector. Rivalry is assessed as strong overall.

These same factors also drive up buyer power, as buyers are free to choose from a number of comp eting agricultural

producers. Typically, a few large supermarkets dominate the retail of agricultural products, and so market players must

compete for highly valuable contracts with these retailers. This increases buyer power further, and buyer power is also

assessed as strong overall.

In terms of supplier power, while inputs such as chemicals for fertilizer are fairly undifferentiated, the companies which

provide these inputs tend to be relatively larger than the farms they supply; supplier power is therefore assessed as

moderate.

The threat from new entrants is dependent on a number of factors; while entry and operating costs at the large scale end

of the market can be daunting, it is sometimes possible to break in to the market through the production of a single type

of product on a smaller scale, and since buyer loyalty is low, new entrants stand a reasonable chance of success if

they've a quality product. The threat from new entrants to this market is assessed as strong.

Finally, the threat from substitution is assessed as weak, since the only real substitutes to market players' produce is

homegrown produce. While it is sometimes possible for homeowners to supplement their diet with homegrown produce,

this takes time, expertise, land, and a lot of work, and the quality and variety of homegrown produce might also fall short

in comparison to professionally produced goods. The threat from substitutes is therefore assessed as weak.



Buyer power

Figure 8: Drivers of buyer power in the agricultural products market in India, 2014


Due to the wide range of agricultural produce available, there are a number of different buyers in this market. Large

grocery retailers, such as Reliance and the Aditya Birla Group, are the major buyers of market-ready products, such as

fruit and vegetables. The major buyers of products requiring processing, such as cereal grain, are wholesale dealers and

food processing companies.

Large supermarket chains are able to negotiate low prices through bulk purchasing. Contractual arrangements between

market players and the large supermarkets they supply typically favor the interests of the latter; buyer power is enhanced

considerably by the resultant low switching costs.

A relatively low level of product differentiation also drives up buyer power, although producers might offer fair -trade,

organic, or locally sourced products in order to mitigate this effect somewhat.

Buyer power is also limited somewhat because the prices for many agricultural commodities are set on global

exchanges. Here, producers can hedge in order to cushion the impact of price fluctuations and therefore limit buyers'

leverage over them in the face of downward price pressure.

Forward integration may also be possible for farmers who sell fresh fruit and vegetables direct to consumers through a

farm-store outlet. In many markets, consumers are willing to pay higher prices for local and organic produce as it is seen

as more ethical and beneficial for the environment. As these practices currently operate on a small scale, however, they

are unlikely to have any significant effect on large buyers.

Overall, buyer power is assessed as strong.



Supplier power

Figure 9: Drivers of supplier power in the agricultural products market in India, 2014


Strong growth in farming worldwide has led to growing demand for agricultural machinery, fertilizers, and other inputs to

the agricultural products market, driving up supplier power.

Large chemical companies manufacture and supply most fertilizer products. Producers' size, and the high demand for

such products, both work to increase supplier power.

On the other hand, fertilizer products typically lack differentiation and are relatively simple chemicals; a fairly consistent

quality is available from a large number of suppliers. Moreover, production costs for fertilizers are highly dependent on

input prices, and these can be volatile. For example, the price of nitrogen-based fertilizers such as ammonia and

ammonium nitrate has fluctuated recently in line with natural gas prices. These trends work to undermine supplier power.

Market players have some alternatives to traditional suppliers. Organic farming practices eliminate the use of artificial

fertilizer products, for example. As well, in many western countries the popularity of organic products and production

processes is increasing, increasing the pressure felt by traditional chemical companies supplying the agricultural

products market.

Overall, supplier power in the agricultural products market is moderate.



New entrants

Figure 10: Factors influencing the likelihood of new entrants in the agricultural products market in India, 2014


The purchase of arable land, machinery and the provision of working capital to sustain initial operations are typically

needed to enter the agricultural products market.

High operating costs pose a significant entry barrier; large scale operations leverage economies of scale in order to

remain profitable, but due to the high cost of land and equipment it is difficult for small scale farmers to develop in to fu lly

fledged agribusinesses.

The entrance of players deemed suitably qualified is eased somewhat by the existence of loans, which can be obtained

due to the lucrative nature of the agricultural products market. The low level of differentiation between most agricultural

products means it is relatively easy for new entrants to get their product to market. Additionally, brand loyalty is low,

meaning market players are free to source products from an array of suppliers. New entrants might also choose to focus

on a particular product or crop in order to ease their move in to the market. All this increases the likelihood of new

entrants.

A strong rate of growth in the Indian agricultural products market further drives up the threat of new entrants.

Overall the threat from new entrants is assessed to be strong.



Threat of substitutes

Figure 11: Factors influencing the threat of substitutes in the agricultural products market in India, 2014


There are no truly threatening substitutes to agricultural producers' output. Produce such as fruit, vegetables, wheat,

sugar, potatoes and rice form a stable and important part of most people’s diets. As such buyers can be confident that

consumer demand will remain strong.

That being said, on a small scale, some end users might choose to grow their own fruit and vegetables, and become

self-sufficient. However, switching costs are high here.

Subsistence level farming is time consuming, requires some degree of specialist knowledge, and brings with it the cost of

purchasing seeds, fertilizer, gardening products, and so on. Moreover, many people do not have the land required to

make this a viable option, and the quantity and quality of the end product is not guaranteed. In India, much of the

population is rural and many are still involved in agriculture. A large proportion of people will produce crops for their own

consumption and therefore this substitute is more of a threat than in more developed countries.

Even those who make a success of this approach though are unlikely to be able to grow all of the food they need; other

crops and products which depend on different environments or more complex or labor intensive production processes

will still have to be bought.

Overall the threat from substitutes is weak in this market.



Degree of rivalry

Figure 12: Drivers of degree of rivalry in the agricultural products market in India, 2014


Players within the Indian agricultural products market range from small, individually owned farms, to large consolidated

corporations. The presence of large incumbent market players works to drive up rivalry.

Individual operators in this market compete primarily for supply contracts, especially those with large supermarkets. The

importance of these large buyers to market players increases rivalry in this market further.

Rivalry is also increased by the low differentiation between producers; where differentiation does exist, it is typically

down to quality of produce.

The land, machinery, equipment and other inputs in to the agricultural products market can be expensive. Operating and

exist costs are therefore high, particularly at the upper end of the market. This drives up rivalry between players.

Overall, rivalry in this market is assessed as strong.



LEADING COMPANIES

Aditya Birla Group

Table 7: Aditya Birla Group: key facts

Head office: Aditya Birla Centre, 3rd Floor C Wing, S K Ahire Marg Worli, Mumbai 400 030, Maharashtra, IND

Telephone: 91 22 6652 5000

Fax: 91 22 6652 5741

Website: www.adityabirla.com

SOURCE: COMPANY WEBSITE M A R K E T L I N E

Aditya Birla Group (Aditya Birla) is a privately held multinational corporation, engaged in a range of businesses. The

group operates in Asia, Europe, the Americas, the Middle East and Asia Pacific.

The group operates its business through various subsidiaries, including Grasim Industries (Grasim), Hindalco, Aditya

Birla Nuvo, Aditya Birla Retail and Essel Mining & Industries.

Grasim is engaged in the manufacturing of textiles, viscose staple fiber (VSF), cement and chemicals. Grasim's

subsidiary, UltraTech Cement's products include ordinary portland cement, portland pozzolana cement and portland

blast furnace slag cement. Grasim operates its textile business through i ts subsidiary, Grasim Bhiwani Textiles Limited,

which operates its textile plants in Bhiwani (Haryana, India) and Malanpur (Madhya Pradesh, India). Grasim operates a

rayon grade caustic soda unit at Nagda, India. Grasim's VSF plants are located at Nagda in Madhya Pradesh, Kharach

in Gujarat and Harihar in Karnataka.

Hindalco is engaged in producing aluminum and copper. Hindalco manufactures a wide range of alloys such as hard and

special alloys, flat rolled products, aluminum sheets, roofing sheets and foils. Its copper products include copper

cathodes, continuous cast copper rods, precious metals, sulphuric acid, phosphoric acid and fertilizers. Hindalco

operates two copper mines in Nifty and Mt. Gordon, Australia.

Aditya Birla Nuvo is engaged in the production of viscose filament yarn, apparels and accessories, linen fabrics,

fertilizers and insulators. It is also involved in businesses, including telecommunication, insurance, asset management

and business process outsourcing (BPO).

Aditya Birla Retail owns and operates a chain of retail stores under the brand 'More Megastore'. It operates two formats

of stores, including supermarkets and hypermarkets. Aditya Birla Retail through its stores offers a range of fast moving

consumer goods (FMCG) products, fruits , vegetables, groceries, frozen food, bakery, homecare, personal care,

pharmacy, general merchandise, apparel and footwear.

Essel Mining & Industries is an iron ore mining company that produces Ferro alloys. Essel Mining & Industries' products

include calibrated iron ore lump, which are used as inputs for steel making through Direct-reduced iron (DRI / BF)

process; and iron ore fines, which are used as inputs for sinters and pellets, used for making steel. It operates Jilling,

Kasia and Koira mining assets in Odisha, India. Its other operating divisions include coal mining division, Ferro chemical

division and wind power division.

The group's other subsidiaries include the following: Novelis, Aditya Birla Chemicals (India) Limited, Utkal Alumina

International Limited, Dahej Harbour & Infrastructure Limited, Aditya Birla Science and Technology Company Limited,

Aditya Birla Finance Limited, Aditya Birla Money Limited, Aditya Birla Capital Advisors Private Limited and Idea Cellular

Limited.



Aditya Birla's joint ventures include Birla Sun Life Insurance Company, Birla Sun Life Asset Management, Tanfac

Industries Limited, Aditya Birla Grasun Chemicals (Fangchenggang) Limited, Hindalco -Almex Aerospace Limited and

Cameroon Alumina Limited.

Key Metrics

As a private entity, Aditya Birla Group is not obliged to release its financial results.



Apna Bazaar

Table 8: Apna Bazaar: key facts

Head office: Post Box No. 3, Khairatabad, Head Post Office, Hyderabad 500004, IND

Telephone: 91 40 2323 3199

Fax: 91 40 2771 9641

Website: www.apnabazaar.org


Apna Bazaar is a one of India’s largest supermarket chains, with 500 retail outlets selling food, beverages, and other

items. It is operated by the Consumer Awareness and Research Society trust (CARS), which established the chain in

1993.

The organization has its own warehouse facilities, which hold products from around 500 manufacturers, as well as

packaging raw produce from its suppliers. Quality testing to ensure compliance with governmental AGMARK standards

is also carried out here. The company’s warehouse facilities supply around 5,700 different products to Apna Bazaar’s

stores.

Corporate expansion works through a franchise system. Individuals are able to es tablish outlets in formats ranging from

‘Home’ to ‘Mega’, by registering as Coordinators, and paying CARS a fee of INR 1 -5 lakh (approximately $2,000 –

$10,000), followed by monthly royalties of INR10 or 2% of turnover, whichever is higher. Coordinators are also

responsible for providing retail space of the appropriate area and recruiting supervisors and helpers. CARS takes

responsibility for obtaining government licenses, delivering stock, and providing promotional materials.

Apna customers must pay an annual membership fee of INR10 ($0.21) per family. The fees are intended to fund

community projects, and also to help fund CARS activities. Apna claims that its retail prices are 3 -30% lower than the

prevailing market rates. In addition, customer members can obtain services such as legal advice.

Key Metrics

As a private company, Apna Bazaar is not obliged to publish its financial information.



Margin Free Market

Table 9: Margin Free Market: key facts

Head office: 37/143, Padmavilasam Road, PB 5014, Fort P.O., Trivandrum, Kerala, IND

Telephone: 91 471 2466 051

Fax: 91 471 2574 457

Website: www.mfreem.com


Margin Free Market was established in 1994 and is a cooperative society based in Kerala, India. It operates under the

Consumer Protection and Guidance Society.

Margin Free Market is a chain of specialty supermarkets in South India. The company operates around 350 owned or

franchised supermarkets, both: in and outside of Kerala.

The company expands using a franchising system. Individuals are invited to invest in a franchise operation for a flat fee

of INR1,000.0 ($21.0) per square foot and they are also expected to invest in racks and equipment.

Key Metrics

As a private entity, Margin Free Market is not obliged to release its financial results.



Reliance Retail

Table 10: Reliance Retail: key facts

Head office: Maker Chambers IV, 222 Nariman Point, Mumbai 400 021, Maharashtra, IND

Telephone: 91 22 2278 5000

Fax: 91 22 2278 5185

Website: www.ril.com


Reliance Retail is the retail segment of the Indian company Reliance Industries. Reliance Retail (RRL) caters to millions

of customers, and thousands of farmers and vendors. RRL operates 'value' formats that include neighborhood stores, all

under one roof supermarkets, mini-marts, and others which offer a range of products for daily household usage. It also

operates specialty formats offering consumer durables and information technology, apparel and accessories, health,

wellness and beauty, Apple products, footwear, jewelry, books, music and entertainment, automotive products and

services and homeware, furniture, modular kitchens, and furnishings.

Key Metrics

Reliance Retail is a wholly owned subsidiary and as such full financial details are unavailable.



MACROECONOMIC INDICATORS

Country Data

Table 11: India size of population (million), 2010–14

Year Population (million) % Growth

2010 1,190.7 1.6%

2011 1,210.2 1.6%

2012 1,226.4 1.3%

2013 1,241.7 1.2%

2014(e) 1,256.8 1.2%


Table 12: India gdp (constant 2005 prices, $ billion), 2010–14

Year Constant 2005 Prices, $ billion % Growth

2010 1,243.7 10.3%

2011 1,326.2 6.6%

2012 1,389.0 4.7%

2013 1,458.7 5.0%

2014(e) 1,539.2 5.5%


Table 13: India gdp (current prices, $ billion), 2010–14

Year Current Prices, $ billion % Growth

2010 1,708.5 25.1%

2011 1,880.1 10.0%

2012 1,858.7 (1.1%)

2013 1,876.8 1.0%

2014(e) 2,125.4 13.2%




Table 14: India inflation, 2010–14

Year Inflation Rate (%)

2010 12.0%

2011 9.1%

2012 10.2%

2013 9.5%

2014(e) 7.7%


Table 15: India consumer price index (absolute), 2010–14

Year Consumer Price Index (2005 = 100)

2010 152.0

2011 165.8

2012 182.8

2013 200.1

2014(e) 215.6


Table 16: India exchange rate, 2010–14

Year Exchange rate ($/Rs.) Exchange rate (€/Rs.)

2010 45.9361 60.9708

2011 46.8466 65.1733

2012 53.6119 68.6802

2013 58.4859 77.7676

2014 58.4859 77.7676




APPENDIX

Methodology MarketLine Industry Profiles draw on extensive primary and secondary research, all aggregated, analyzed, cross -

checked and presented in a consistent and accessible style.

Review of in-house databases – Created using 250,000+ industry interviews and consumer surveys and supported by

analysis from industry experts using highly complex modeling & forecasting tools, MarketLine’s in -house databases

provide the foundation for all related industry profiles

Preparatory research – We also maintain extensive in-house databases of news, analyst commentary, company

profiles and macroeconomic & demographic information, which enable our researchers to build an accurate marke t

overview

Definitions – Market definitions are standardized to allow comparison from country to country. The parameters of each

definition are carefully reviewed at the start of the research process to ensure they match the requirements of both the

market and our clients

Extensive secondary research activities ensure we are always fully up-to-date with the latest industry events and

trends

MarketLine aggregates and analyzes a number of secondary information sources, including:

- National/Governmental statistics

- International data (official international sources)

- National and International trade associations

- Broker and analyst reports

- Company Annual Reports

- Business information libraries and databases

Modeling & forecasting tools – MarketLine has developed powerful tools that allow quantitative and qualitative data to

be combined with related macroeconomic and demographic drivers to create market models and forecasts, which can

then be refined according to specific competitive, regulatory and demand-related factors

Continuous quality control ensures that our processes and profiles remain focused, accurate and up-to-date



Related MarketLine research

Industry Profile

Agricultural Products in China

Agricultural Products in Asia-Pacific

Global Agricultural Products

Agricultural Products in Taiwan

Agricultural Products in Japan

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