Retail sector projected to nearly double and nudge $2 trillion by 2030

INDIA'S RETAIL SECTOR, currently valued at $1.06 trillion, is projected to nearly double to $1.93 trillion by 2030, according to a Deloitte-Ficci report.

- Geetika Srivastava

Online retail is expected to grow from $75 billion in 2024 to $260 billion by 2030, doubling its share of total retail from 7% to 14%.

"The next wave of growth will be driven less by distribution expansion and more by the ability of FMCG, retail, and e-commerce players to anticipate and respond to shifting consumer behaviours, regional nuances, and the demand for purpose-led innovation," Anand Ramanathan, partner & consumer industry leader, Deloitte South Asia, said.

Gen Z—known for their digital fluency and fast-evolving preferences—have emerged as a dominant consumer group. In 2025, their direct spending is projected to reach $250 billion. In fashion alone, they drive close to half the category's consumption, while also leading spending in personal care and footwear. Their collective spending power constitutes 43% of the country's total consumption.

"Smaller players and new-age D2C brands are ahead in adopting these trends, scaling rapidly through e-commerce and quick commerce. They are reshaping competition by responding faster to evolving consumer preferences, especially among younger cohorts," the authors of the report noted.