A consumer base of this scale, paired with maturing retail infrastructure, gives retail & consumer brands a multi-decade runway for growth.
In 2030, India’s retail market is expected to be $1.9 Tn with online retail at about $260 billion. Growth will be supported by rising incomes, an expanding middle class, urbanisation, digital adoption, premiumisation and the rapid emergence of Tier II and III cities as important consumption markets. However, the opportunity will come with increasing complexity. Retailers will need to navigate a more fragmented consumer base, intense competition, rapidly evolving omnichannel and quick-commerce models, rising expectations for convenience and personalisation, and growing pressure to deliver profitable growth rather than simply revenue growth. Supply-chain resilience, technology and AI adoption, talent, regulatory requirements and the ability to localise propositions across regions will become increasingly important. By 2030, therefore, India’s retail opportunity is likely to be less about whether the market will grow and more about which businesses can convert that growth into scalable, differentiated and profitable enterprises.
Winning in this market will require a different approach;
a newer playbook for sustainable growth