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Indian Retail Market Pegged at ₹190 Lakh Cr by 2034
Hindustan Times West UP
|March 03, 2025
The Indian retail market is expected to reach over ₹190 lakh crore by 2034 and retailers capable of embracing the country's diverse demographics and contrasting consumer behaviours stand to gain the most, according to a report.
NEW DELHI:
With distinct consumer groups, each with their own unique needs even within a city, retailers will need to recognise the different opportunities and pick sharply where they want to play to be successful in 'Bharat' and 'India', said the report prepared jointly by the Boston Consulting Group (BCG) and the Retailers Association of India (RAI).
The retail market in India reached a size of ₹82 lakh crore in 2024, up from ₹35 lakh crore in 2014, growing at over 8.9% in the last decade, driven by India's economic growth and an increasingly discerning and diverse consumer base, said the report titled 'Winning in Bharat & India: The Retail Kaleidoscope'.
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