India’s retail market to grow four-fold by 2025

Increasing affluence, changing lifestyle and attitude towards spending by young Indians is pushing the retail market. It is expected to grow from about 550 billion dollars (over Rs 34, 97,000 crores) in 2015 to 2.1 trillion dollars (over Rs 1 crore 33 lakh) by 2025. This is an almost fourfold growth over a decade, a recent study by Wazir Advisors said.

“India's young population, increasing affluence, changing lifestyle and attitude towards spending and increasing availability in the smallest of the towns, is spiralling consumption and driving the retail market," said report done by Confederation of Indian Industry along with Wazir Advisors. Within the same period, organised retail is expected to grow seven fold and online retail, a mind boggling 26-fold. The main drivers for the retail market would be the demographic dividend, increasing incomes fuelling aspirations and rurbanisation and urbanisation.