Abstract
India, with a population of more than 1.3 billion people, a burgeoning middle class, and a business-friendly political environment offers a highly lucrative and largely untapped market for big-box and modern-day retailers. Despite this potential, in recent years the overall experience of such retailers in India has been mixed. Against this backdrop, the research describes the evolution and growth of modern institutional entrepreneurs in India, i.e., retailers that have successfully overcome significant entry barriers and social stigmatization by performing the seemingly paradoxical task of pursuing change while embracing tradition. Using several real-life examples and case studies, this paper offers guidance to practicing managers wishing to transform their firms into institutional entrepreneurs and tap into the vast and mostly unrealized potential of the Indian retail market.