Indian retail to touch $1.2 trillion
Published on May 17, 2015 00:29:21 AM
Confederation of Indian Industry (CII) has envisaged that the retail market in India will touch $1.2 trillion by 2020 and $2.1 trillion by 2025 from the present level of $550 billion, generating 10-12 million Jobs in next decade. According to a report titled The Indian Retail Medley released jointly by CII and Wazir Advisors, "The organised retail in India is expected to grow 7 folds and online retail 26 folds, while the unorganised retail will continue to dominate”.
The report further highlighted that it is certain that the sector will get a transformational push with an aggressive collaboration between the organised, unorganised and online retail growth, driven by India’s demographics with huge young and tech savvy population (500 million below 25 years), rising incomes and demand levels, urbanisation, attitudinal shifts and above all, a phenomenal and continuous rise in Internet penetration across the country with the government’s commitment to digitisation”.