New Delhi, Aug 21 (IANS) India’s retail sector is poised for a sharp expansion, with market size expected to climb from $1.06 trillion in 2024 to $1.93 trillion by 2030, a new report has said.
The shifting trade dynamics, including new Free Trade Agreements (FTAs) and tariff adjustments, are enhancing the competitiveness of Indian exports, according to a Deloitte–FICCI report.
The country’s retail ecosystem is also undergoing rapid digital transformation.
A digital-first, premium-yet-inclusive consumption wave, the expansion of quick commerce, and the boom in direct-to-consumer (D2C) brands are reshaping the landscape.
Online platforms already play a pivotal role, influencing 73 per cent of purchase decisions, with YouTube reviews (40 per cent) and peer recommendations (51 per cent) overtaking traditional influencer channels in credibility.
India has also emerged as the world’s first scaled quick commerce market, now active in more than 80 cities and expanding at an extraordinary 70–80 per cent CAGR. The segment is expected to reach $35 billion in GMV by 2030, supported by lakhs of delivery personnel and an expanding electric vehicle fleet.
“Consumers today are not just buyers, they are empowered decision-makers,” said Kumar Venkatasubramanian, CEO of P&G India and Chairman of FICCI’s FMCG committee.
He pointed out that digital platforms already drive 17 per cent of total FMCG consumption, with quick commerce accounting for 35 per cent of e-commerce revenues for FMCG brands.
Kumar emphasised that this shift towards immediacy, convenience, and digital payments is creating fresh opportunities to elevate consumer experience.
He added that flexible and agile supply chains will be critical for companies seeking to turn this momentum into long-term competitive advantage.
According to he report, the growth, translating into a 10 per cent CAGR, will be underpinned by a strong domestic base that cushions against global trade volatility.
Lower barriers and cost efficiencies are enabling “Made in India” products to penetrate global markets more effectively.
At home, the momentum is being fuelled by rising incomes and younger consumers.
Gen Z alone commands a direct spending capacity of $250 billion, strengthening domestic demand and encouraging Indian brands to scale internationally, the report highlighted.
–IANS
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