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    Riddhima Karkera
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    The Indian retail industry has emerged as one of the fastest growing in the world due to the entry of many new players, accounting for over 10% of India's GDP and 8% of employment. India is the fifth largest global retail destination. E-commerce is also expanding steadily in India, with the online retail market projected to reach $350 billion by 2030 from an estimated $55 billion in 2021 due to rising online shoppers. Several factors such as economic growth, changing demographics, increasing incomes, urbanization, and evolving consumer preferences are fueling growth in India's organized retail sector.

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    The Indian retail industry has emerged as one of the fastest growing in the world due to the entry of many new players, accounting for over 10% of India's GDP and 8% of employment. India is the fifth largest global retail destination. E-commerce is also expanding steadily in India, with the online retail market projected to reach $350 billion by 2030 from an estimated $55 billion in 2021 due to rising online shoppers. Several factors such as economic growth, changing demographics, increasing incomes, urbanization, and evolving consumer preferences are fueling growth in India's organized retail sector.

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    5 views1 page

    Indian Retail Scenario

    Uploaded by

    Riddhima Karkera
    The Indian retail industry has emerged as one of the fastest growing in the world due to the entry of many new players, accounting for over 10% of India's GDP and 8% of employment. India is the fifth largest global retail destination. E-commerce is also expanding steadily in India, with the online retail market projected to reach $350 billion by 2030 from an estimated $55 billion in 2021 due to rising online shoppers. Several factors such as economic growth, changing demographics, increasing incomes, urbanization, and evolving consumer preferences are fueling growth in India's organized retail sector.

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    © All Rights Reserved
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    Indian Retail Scenario

    Source - IBEF

    Indian retail industry has emerged as one of the most dynamic and fast-paced industries
    due to the entry of several new players. It accounts for over 10% of the country’s gross
    domestic product (GDP) and around 8% of the employment. India is the world’s fifth-
    largest global destination in the retail space.

    Indian retail industry is one of the fastest growing in the world. India ranked 63 in the
    World Bank’s Doing Business 2020 publication and ranked 73 in the United Nations
    Conference on Trade and Development's Business-to-Consumer (B2C) E-commerce Index
    2019. India’s direct selling industry is valued at US$ 2.14 billion by the end of 2021.

    India is the fifth-largest and preferred retail destination globally. The country is among the
    highest in the world in terms of per capita retail store availability. India’s retail sector is
    experiencing exponential growth with retail development taking place not just in major
    cities and metros, but also in tier II and III cities. Online penetration of retail is expected to
    reach 10.7% by 2024 versus 4.7% in 2019. According to India Ratings and Research (Ind-Ra),
    domestic organised food and grocery retailers are expected to increase by 10% YoY in FY22.
    By 2024, India's e-commerce industry is expected to increase by 84% to US$ 111 billion,
    driven by mobile shopping, which is projected to grow at 21% annually over the next four
    years.

    E-commerce is expanding steadily in the country. Customers have the ever-increasing choice
    of products at the lowest rates. Online retail market in India is projected to reach US$ 350
    billion by 2030 from an estimated US$ 55 billion in 2021, due to rising online shoppers in the
    country. India is expected to become the world's third-largest consumer economy, reaching
    Rs. 27.95 lakh crore (US$ 400 billion) in consumption by 2025.

    Healthy economic growth, changing demographic profile, increasing disposable income,


    urbanisation, changing consumer tastes and preferences are some of the factors driving
    growth in the organised retail market in India.

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