Indian Oil Corporation eyes 52,000 fuel retail outlets in three years

State run-Indian Oil Corporation (IOC) aims to almost double its fuel retail network to 52,000 outlets over the next three years from 27,000 now. IOC, India’s largest fuel retailer, accounts for 44 percent of the market despite the entry of private sector in the segment. With over 50,000 new fuel stations and LPG distributorship coming up in the next few years, benchmarking to global standards and generating additional revenue streams from non-fuel business is an idea worth exploring by oil marketing companies. The opening of the new IOC outlets is a new business opportunity for the signage companies whose activities involve branding and graphic projects in such outlets.