But companies are looking for stable political situation and strong corporate governance. There is a lot of lobbying happening and I feel any major investments will only happen after the new government comes next year,” said Kavish Sarawgi, director of boutique investment banking firm Resurgent India.
Aeon, the 13thlargest retailer globally with revenues of $60 billion, has embarked on an expansion spree in recent years. In 2012, it bought Carrefour's operations in Malaysia for $324 million. In all, Aeon is present in nine countries with 598 stores and 157 malls. While India's overall retail market is estimated to be $490 billion, organized retail makes up for only around 10% of the market or $37 billion, according to data from retail consultancy firm Technopak Advisors.