Growth of Retail Industry - Infographic

India’s e-commerce sector is expected to reach US$ 53.08 billion in 2024, with an annual growth rate of 11.45% to reach US$ 91.24 billion by 2029.

Advantage India

Robust
Demand

*The Indian retail sector in 2024 saw the opening of over 750 new stores and a total of Rs. 12,000 crore (US$ 1.38 billion) raised, as per the data compiled by India Retailing Insights.

*India’s retail market expanded from Rs. 35,00,000 crore (US$ 400.9 billion) in 2014 to Rs. 82,00,000 crore (US$ 939.8 billion) in 2024, growing at an 8.9% annual rate, according to a report by Boston Consulting Group (BCG) and the Retailers Association of India (RAI).

*India’s organised retail sector is expanding rapidly. It is projected to reach Rs. 20,08,590 crore (US$ 230 billion) by 2030, driven by rising disposable incomes and evolving consumer preferences, according to a Deloitte-Retailers Association of India (RAI) report.

*India's seven major cities are set to receive 16.6 million square feet (sq. ft.) of prime retail space in new shopping malls by the end of 2026, as per Anarock's data.

Innovation
In Financing

* Collective efforts of financial houses and banks with retailers are enabling consumers to go for durable products with easy credit.

* According to EY, E-commerce companies raised US$ 2.44 billion in PE/VC funding in 2023 from 85 deals, down from US$ 5.36 billion across 162 deals in 2022.

Increasing
Investments

* Due to India’s wealth of resources, availability of labor at relatively low costs, and special investment wages such tax breaks, etc., foreign corporations prefer to invest here.

*India’s retail trading sector attracted Rs. 41,045 crore (US$ 4.80 billion) FDIs between April 2000-December 2024.

* The retail sector in India accounts for over 10% of the country’s GDP and around 8% of the workforce (35+ million). It is expected to create 25 million new jobs by 2030.

Policy
Support

* To improve the business climate and make it simpler for foreign companies to register fully owned subsidiaries in India, the Indian government has implemented a number of rules, regulations, and policies.