The India retail market reached USD 952.02 Billion in 2024. The market is projected to grow at a CAGR of 11.40% between 2025 and 2034, reaching almost USD 2.80 trillion by 2034.
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The entry of several multinational companies into India, driven by its rising population size, increasing disposable incomes, and positive rates of consumption has become one of the key India retail market trends. Since 2021, 24 new global brands have entered the Indian market, which has favourably affected the India retail market growth. 1/4th of these new entrants operate in the food and beverage category, which is expected to remain one of the key growth segments over the forecast period.
The most heavily concentrated regions for the India retail market include Delhi NCR, Mumbai, Chennai, Pune, Kolkata, Hyderabad, and Bengaluru, with South India taking up the biggest market share. The emergence of new technologies likeaugmented realityis expected to enhance the customer experience in brand retail stores and drive the India retail market growth in the forecast period.
Small and medium-sized kirana stores are the most popular form of retail outlet in India. This is because they offer a wide range of goods and are easily accessible in remote regions. Their product offerings include everything ranging from groceries to electronics and footwear to clothing items. They provide home deliveries to their regular customers and are easily reachable through phones.
In recent times, supermarkets have emerged as modern retail outlets in major Indian cities. They enable consumers to shop for their daily necessities through their neatly stacked shelves of groceries, food, and other essential items. This is expected to contribute to the India retail market expansion in the forecast period.
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The entry of several multinational companies into India, driven by its rising population size, increasing disposable incomes, and positive rates of consumption has become one of the key India retail market trends. Since 2021, 24 new global brands have entered the Indian market, which has favourably affected the India retail market growth. 1/4th of these new entrants operate in the food and beverage category, which is expected to remain one of the key growth segments over the forecast period.
The most heavily concentrated regions for the India retail market include Delhi NCR, Mumbai, Chennai, Pune, Kolkata, Hyderabad, and Bengaluru, with South India taking up the biggest market share. The emergence of new technologies likeaugmented realityis expected to enhance the customer experience in brand retail stores and drive the India retail market growth in the forecast period.
Small and medium-sized kirana stores are the most popular form of retail outlet in India. This is because they offer a wide range of goods and are easily accessible in remote regions. Their product offerings include everything ranging from groceries to electronics and footwear to clothing items. They provide home deliveries to their regular customers and are easily reachable through phones.
In recent times, supermarkets have emerged as modern retail outlets in major Indian cities. They enable consumers to shop for their daily necessities through their neatly stacked shelves of groceries, food, and other essential items. This is expected to contribute to the India retail market expansion in the forecast period.
Market Segmentation
India Retail Industry Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:Market Breakup by Product
- Food, Beverage, and Grocery
- Personal and Household Care
- Apparel, Footwear, and Accessories
- Furniture and Home Décor
- Industrial and Automotive
- Electronic and Household Appliances
- Pharmaceuticals
- Others
Market Breakup by Sector
- Organised
- Unorganised
Market Breakup by Distribution Channel
- Hypermarket and Supermarket
- Convenience Stores
- Speciality Stores
- E-Commerce
- Others
Market Breakup by Region
- North India
- East and Central India
- West India
- South India
Competitive Landscape
The key India retail market players are:
- Reliance Industries Limited
- Aditya Birla Group
- Avenue Supermarts Limited (DMart)
- Tata Sons Private Limited
- Vijay Sales (INDIA) Private Limited
- V-Mart Retail Ltd.
- K Raheja Corp. (Shoppers Stop Ltd.)
- Landmark Group
- V2Retail Ltd.
- RP Sanjiv Goenka Group (Spencer's Retail Limited)
- Others
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Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Asia Pacific Retail Market Overview
6 India Retail Market Overview
7 India Retail Market by Product
8 India Retail Market by Sector
9 India Retail Market by Distribution Channel
10 India Retail Market by Region
11 Market Dynamics
12 Competitive Landscape
Companies Mentioned
- Reliance Industries Limited
- Aditya Birla Group
- Avenue Supermarts Limited (DMart)
- Tata Sons Private Limited
- Vijay Sales (INDIA) Private Limited
- V-Mart Retail Ltd.
- K Raheja Corp. (Shoppers Stop Ltd.)
- Landmark Group
- V2Retail Ltd.
- RP Sanjiv Goenka Group (Spencer’s Retail Limited)
