It is expected that the retail sector in India is likely to touch ₹80 trillion by 2020, says a recent report from the Deloitte and Retailers’ Association of India. The increasing income levels and foreign direct investments in the consumer-related segments are the factors expected to lead to the growth. At present, the sector is valued at ₹50 trillion.
Some of the other factors that are increasing the value of the Indian retail sector are the effective implementation of goods and services tax, wide reach of the marketers to the ends of the country through e-commerce and the constant inflow of investments, according to the report. The investment scope is likely to increase in the future with the boom in the e-commerce segment in India.
The digital revolution is a main contributor to a paradigm shift in consumer behavioural patterns, according to the report, resulting in revamping of strategies formulated by retailers and the complete supply chain.
The organised retail market of India is likely to touch around 20 per cent by 2020 from the existing less than 10 per cent, as per the report. (RR)
Fibre2Fashion News Desk – India
| On 19th Jun 2021
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