India witnessed an unprecedented consumption boom. The economy was growing between 7 and 9 percent and the resulting improvements in income dynamics along with factors like favorable demographics and spending patterns are driving the consumption demand. But the sub prime crisis really put a break to this unprecedented growth which had a direct impact on the consumption pattern in its current trend.  The Indian retail industry though predominantly fragmented through the owner run “Mom and Pop outlets" has been witnessing the emergence of a few medium sized Indian Retail chains. According to the 'Global Retail Development Index (GRDI) 2006' by the management consulting firm 'A.T. Kearney', India has retained it's topmost position in the annual study of retail investment attractiveness among 30 emerging markets. Various agencies have made different estimates of the size of organized market in 2010. The one thing in common amongst these estimates is that the Indian organized retailing industry will be very big in 2010. The status of the industry will depend a lot on external factors like Government regulations and economy packages they are offering to rejuvenate the economy and fall in the real estate prices, besides activities of the retailers and demands of the customers in the current scenario. Based on our analysis of present trends, and development of retailing elsewhere, we present our perspectives and snapshots of organized retailing, as it would exist in the near future.