The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. Total consumption expenditure is expected to reach nearly USD $3,600 bn by 2020 from USD $1,824 bn in 2017. India’s e-commerce market has witnessed a phenomenal growth in the past recent years and is still flourishing. Foreign Direct Investment in E-Commerce in India can lead to an influx of capital, further enhancing its growth potential.
India ranks among the best countries to invest in Retail space. Factors that make India so attractive include the second largest population in the world, a middle class of 600 million people, increasing .urbanisation, rising household incomes, connected rural consumers and increasing consumer spending. India has overtaken China to grab the top spot in A.T. Kearney's 2017 Global Retail Development Index. Retail is India's largest industry, currently accounting for over 10% of the country's GDP and 8% of total employment.
Recent policy changes allow 100% FDI in e-commerce under the automatic route for single-brand retail trading.
Rank #1 in Global Retail Development Index (GRDI) in 2017
Expected to have more internet users (approximately 650 million) than the entire population of six G7 countries by 2021
India to become the 3rd largest consumer economy by 2025 (consumption expenditure to increase 3 times to reach $4 trillion)
India's retail market is expected to increase by 60% to reach USD $1.3 trillion by 2020, on the back of factors like rising incomes and lifestyle changes by middle class and increased digital connectivity
Online retail sales are forecasted to grow at the rate of 31% year-on-year to reach USD $32.70 bn in 2018
The Indian e-commerce industry is expected to cross $100 bn mark by 2020
With estimations of having market penetration of 12% by 2026 instead of the current 2%, the e-commerce market is set to grow at a CAGR of 30% for gross merchandise value to reach $200 bn by the same year
India is largely an unorganized retail market, contributing 92% to the total retail sector in India. The organized retail market is currently valued at $60 bn, while the unorganized market holds the rest
Various agencies have high expectations about growth of Indian e-commerce markets
Atal Bihari Vajpayee's memorable 1996 Parliament trust vote speech
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PM Modi greets children at the 73rd Independence Day Celebrations at Red Fort Delhi.
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