29 April 2022, Mumbai:
The Indian retail industry is set to grow 10 percent and reach approximately $2 trillion by 2032, according to a BCG-RAI report.
In the first 10 years, the Indian retail industry will grow by approx.
$2 trillion as consumption recovers after a two-year COVID pause, says Abheek Singhi, Managing Director, BCC.
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In the next decade, organized retailers will focus on expanding their retail footprint across all formats including offline and online, he adds.
Growing at approximately 12 percent pre-pandemic, India’s retail consumption declined during the pandemic but has now recovered to surpass pre-pandemic growth levels at 17 percent.
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The E-commerce industry in India is expected to grow to $130 billion by 2026, as compared to $45 billion in 2021, as per the report.
An in-depth study of retail players, the report identifies challenges in the current environment and highlights emerging trends and models likely to shape the future of retail.
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