India is the 5th largest retail market in the world. India has occupied a remarkable position in global retail rankings on the back of high market potential, low economic risk, and moderate political risk. In market potential, India ranks fifth after the United States, China, Brazil and Canada. Retail market in India is expected to reach US$ 1.3 trillion by 2020 from US$ 490 billion in 2013. The Government of India has approved 51 per cent foreign direct investment (FDI) in multi-brand retail and increased foreign direct investment (FDI) limit to 100 per cent in single-brand retail and cash and carry (wholesale) trading and exports. India's strong growth fundamentals, along with increased urbanization and consumerism, offer immense scope for retail expansion for foreign players. Rapid emergence of organized retail outlets, such as mega malls and hypermarkets, are augmenting the growth of organized retail in the country. Retailers have made constant improvements in supply chain and logistics for competitive advantage and meeting consumer demands. E-commerce is expected to be the next major area for retail growth in India. The industry is projected to touch US$ 200 billion by 2020.