RETAIL SECTOR AND INDIA
- India’s retail sector is expected to nearly double to $1.9 trillion by 2030, according to a Deloitte-Ficci report.
- The growth is driven by robust domestic consumption, digital adoption, premiumisation, and expansion in both urban and emerging markets.
- In 2024, the retail sector was valued at $1.1 trillion, with purchases and spending capacity increasing among Indian households.
- Factors supporting this growth include the rise of digital commerce, the expansion of modern retail formats, policy changes like free trade agreements, and growing brand confidence to expand internationally.
- The report highlights the impact of evolving consumer preferences, an expanding middle class, a youthful population, and increasing digital infrastructure, all contributing to the sector’s rapid growth and resilience against global volatility.
Source the times of India