INDIAN RETAIL INDUSTRY AT A GLANCE IN 2021 - 2022
India is the world’s fifth-largest global destination in the retail industry and ranked 63 in the ease of doing business according to the World Bank. In FDI Confidence Index, India ranked 16 after a host of leading developed countries and this is proof that the Indian Retail sector is surely booming.
India's retail sector is expected to touch US$ 1.5 trillion by 2030 from US$ 0.8 trillion in 2020. As per industry reports , India’s retail industry is projected to grow at a pace of 9% between 2019-2030, from US$ 779 billion in 2019 to US$ 1,407 billion by 2026 and to more than US$ 1.8 trillion by 2030.
According to the Retailers Association of India (RAI), the retail industry achieved 93% of pre-COVID sales in 2021.
Ecommerce GrowthE-Retail has been a great blessing for millions across the country during the pandemic according to an Industry report. The Indian e-retail market is expected to grow to US$ 120-140 billion by FY26, increasing at approximately 25-30% per annum over the next 5 years. India has the third-highest number of e-retail shoppers next only to China and the US.
Retail Market FutureOnline 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. Online penetration of retail is expected to reach 10.7% by 2024.
