India's retail sector among fastest growing consumer markets globally: Reliance Industries

Reliance Industries, in its annual report for FY25, emphasised the robust momentum and strong future outlook for India’s retail sector, calling it one of the fastest-growing consumer markets globally. The company attributed this growth to favourable government initiatives, rising disposable incomes, and strong rural demand. It also pointed to technological innovation, deeper consumer engagement, and market expansion as key growth drivers. The conglomerate’s retail business, spanning consumer electronics, grocery, fashion, and lifestyle, and private labels, reported gross revenue of Rs. 3,30,943 crore (US$ 37.84 billion), up 7.9% YoY. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at Rs. 25,094 crore (US$ 2.87 billion), an 8.6% rise over FY24. During the year, 2,659 new stores were added, taking the total to 19,340, the largest footprint of any retailer in India. Its registered customer base surpassed 349 million.
Reliance identified major opportunities, including the acceleration of private labels, exclusive brand partnerships, and the use of artificial intelligence and data analytics for enhanced engagement and efficiency. The company plans to scale up regional brands and explore new retail segments. Citing a Boston Consulting Group-Retailers Association of India report, Reliance noted that India’s retail market is projected to reach Rs. 1,90,00,000 crore (US$ 2.17 trillion) by 2034, with a 9% Compound Annual Growth Rate (CAGR). Organised retail comprises 18% of the total market, while the remaining 82% is driven by unorganised players like kirana stores. The company reaffirmed that India is on track to become the world’s third-largest retail market by 2030.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.