India's retail industry to reach $2 trn by 2032: Report
28 Apr 22 2 min read
BCG managing director Abheek Singhi said the next decade will see organised retailers focus on footprint expansion across all formats to fuel growth.
The report, titled 'Racing towards the next wave of retail in India', said while certain industry segments like food and grocery, restaurants and quick service restaurants (QSR), and consumer durables have recovered to pre-COVID levels, others like jewellery and accessory, apparel and footwear remain on track to a full recovery.
''The Indian economy continues to be driven by consumption and we are observing that consumption growth is back in the positive territory after the two-year COVID pause,'' Singhi was quoted as saying by a news agency.
India's consumption, which was growing at approximately 12 per cent before the pandemic, went into negative territory during the pandemic, but has now recovered at 17 per cent to surpass pre-pandemic growth levels.
Fibre2Fashion News Desk (DS)
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