Organised retail set to reach Rs. 20,08,590 crore (US$ 230 billion) by 2030: Deloitte-RAI report

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. The sector is growing at a compound annual growth rate of 10%. Key factors propelling this growth include increasing income levels, the growing influence of Generation Z consumers, easier access to credit, and a shift towards organised retail. The report highlights that expanded credit access has democratised consumption, allowing a broader demographic to engage in discretionary spending.   

The report also noted that financial inclusivity is reshaping India's retail landscape, with a significant shift towards organised retail. Private consumption in the country has surged from Rs. 87,33,000 crore (US$ 1 trillion) in 2013 to Rs. 1,83,39,300 crore (US$ 2.1 trillion) in 2024, surpassing the growth rates of the United States, China, and Germany. Partner and Consumer Industry Leader at Deloitte India, Mr. Anand Ramanathan, stated that rising discretionary spending, expanding digital commerce, and improved credit access redefine brand strategies. Chief Executive Officer of RAI, Mr. Kumar Rajagopalan, added that as organised retail and new commerce models evolve, businesses aligning with these trends will unlock substantial opportunities for growth and innovation. 

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