Retail opportunities at transport hubs like airports, railways, metro, highways are expected to grow to $21.6 billion by 2030, according to a survey by property consultant Knight Frank. As per the survey, this growth is attributable to a healthy growth in passenger traffic as well as transport infrastructure in the country.
It noted that the total retail opportunity across various transport hubs in India, such as airports, highways and bus stations, metro , railways, will grow manifold in new decade.
“India is going through an infrastructure revolution. The government’s focus on developing and modernising the transport modes including airports, railway stations, metro and highways is opening up unprecedented opportunities for the organised retail segment in the country,” Knight Frank India Chairman and MD Shishir Baijal said. As per the survey, the current size of transit retail in India is estimated at $2.2 billion and is expected to grow to$21.6 billion by 2030.
“While the retailing potential is best tapped at airports, it is still at a nascent stage for other modes like metros, railways, highways and bus stations. A large part of the retail opportunity at transit hubs is currently untapped due to lack of retail infrastructure at these nodes,” the survey noted.
The large retail potential translates into lease rental opportunity of $1 billion, which is estimated to grow to $3.2 billion by 2030.