With 12 million stores, four times as many as in China, India offers a store for every 90 people, the highest shop density in the world.
By contrast, America has 1 store for every 250 people while Singapore and the United Kingdom offer a store for every 200 people. We are not talking Tiffanies here. Most Indian stores - every panwalla and kirana store counts - are tiny; some 96% are less than 500 sq ft.
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