The document discusses the future of the Indian retail sector. It notes that retail currently accounts for 8% of employment in India compared to 16% in the US and other countries. The retail sector in India is large with around 12 million shops and has the potential to become a $300 billion per year market by 2010. Foreign direct investment is expected to bring investments of $22 billion and help modernize the retail sector, though it may negatively impact traditional small retailers. The entry of large foreign retailers like Walmart could displace many existing retail jobs in India.