The Indian retail market can grow to $1,200 billion by 2021 and $1,750 billion by 2026, a FICCI-Deloitte report aforementioned, adding that the country’s e-commerce market is predicted to the touch $84 billion by 2021 and $200 billion by 2026.
“Growth is predicted not solely from large cities and railroad line; however, conjointly tier-2 and tier-3 cities. Union food and grocery sectors square measure expected to achieve $75.1 billion by 2025 and web shoppers expected to extend from current one5% of the web population to five hundredths by 2026,” FICCI aforementioned in a powerful statement quoting the report ‘Evolve for Consumer.’
The FMCG firms and retailers in India square measure evolving at a speedy pace and facing significant disruption in numerous components of the value chain. Innovative solutions, technologically advanced start-ups, sophisticated processes, improvement and digitization of back-end operations, tech-savvy customers, and a growing web and smartphone penetration square measure few major factors inflicting this disruption, Rajat Wahi, partner at Deloitte, aforementioned within the introduction of the report.
“Along with these, India’s political economy factors and favorable demographics square measure fuelling the expansion. The availability and demand factors square measure expected to any accelerate the amendment of growth within the client and retail sectors. Additionally, the govt is providing a strong impetus to create the business surroundings additional contributive for firms operational during this area through developments in infrastructure (electricity, transportation, digitization of processes and economy, ability sweetening, Foreign Direct Investment laws, etc.), that is facilitating growth,” he said.
Tags : Retail Market, FICCI, FMCG firms, e-commerce market, Rajat Wahi,