India's Retail Market to Soar to $2 Trillion by 2032, E-Commerce to Cross $350 Billion

01 November 2023, Mumbai

WHY India

Fueled by urbanization, rising incomes, and nuclear families, India's retail market is poised for explosive growth, reaching a staggering $2 trillion by 2032.
The e-commerce industry is also set to skyrocket, crossing the $350 billion mark by 2030 with a robust CAGR of 23%.

Video Insights
Transformational
In 2022–23, India's retail sector underwent a major transformation, embracing operational technology and enhanced business practices such as digital storefronts and automated supply chains.
This has propelled India's retail industry to become one of the most vibrant and dynamic in the world.
Goldilocks times
As we enter 2024, retail brands are doubling down on cutting-edge technologies like AI, predictive analytics, and the metaverse to rethink their business goals and shape the future.

With consumers and brands forming closer ties than ever, it is imperative to explore opportunities and adapt strategies accordingly.

5 key insights:

• Indian retail to boom to $2T by 2032.
• E-commerce to cross $350B mark by 2030.
• Retail sector undergoes major transformation.
• Retail brands double down on cutting-edge technologies.
• Consumers and brands form closer ties.

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