The retail market size in India was expected to amount to 1.7 trillion U.S. dollars by 2026, up from 883 billion dollars in 2020. While an overall increase was noted up to 2019, 2020 marked a decrease due to the coronavirus pandemic. Nevertheless, the market is estimated to recover in 2021.
The Indian retail landscape
Despite the pandemic, India was among the few countries, showing growth in retail sales in 2020. Characterized by its unorganized retail primarily via kirana stores, the country underwent a process of change in retail forms, which is yet to pace down. The emergence of larger retail spaces such as malls and supermarkets, along with growth of online commerce drove change in the subcontinent’s retail landscape. Nevertheless, kirana stores continued to dominate Indian retail, adopting digitalization and collaboration with larger players in this sector as well.
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India Brand Equity Foundation. (July 12, 2024). Retail market size across India from 2011 to 2023, with estimates until 2030 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/935872/india-retail-market-size/
India Brand Equity Foundation. "Retail market size across India from 2011 to 2023, with estimates until 2030 (in billion U.S. dollars)." Chart. July 12, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/935872/india-retail-market-size/
India Brand Equity Foundation. (2024). Retail market size across India from 2011 to 2023, with estimates until 2030 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/935872/india-retail-market-size/
India Brand Equity Foundation. "Retail Market Size across India from 2011 to 2023, with Estimates until 2030 (in Billion U.S. Dollars)." Statista, Statista Inc., 12 Jul 2024, https://www.statista.com/statistics/935872/india-retail-market-size/
India Brand Equity Foundation, Retail market size across India from 2011 to 2023, with estimates until 2030 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/935872/india-retail-market-size/ (last visited November 21, 2024)
Retail market size across India from 2011 to 2023, with estimates until 2030 (in billion U.S. dollars) [Graph], India Brand Equity Foundation, July 12, 2024. [Online]. Available: https://www.statista.com/statistics/935872/india-retail-market-size/