India’s Retail Market to Nearly Double to $1.93 Trillion by 2030, Says Deloitte–FICCI Report
New Delhi, Aug 21 (TTP): India’s retail sector is set for exponential growth, with the market projected to expand from $1.06 trillion in 2024 to $1.93 trillion by 2030, according to a new Deloitte–FICCI report released this week.
The study highlights how shifting trade dynamics, digital transformation, and a new wave of consumption patterns are reshaping the sector, positioning India as one of the fastest-growing retail markets globally.
Free Trade Agreements Boost Export Competitiveness
According to the report, new Free Trade Agreements (FTAs) and tariff reforms are making Indian exports more competitive. Lower trade barriers and cost efficiencies are enabling “Made in India” products to gain stronger footholds in global markets, helping the sector withstand global trade volatility.
Digital Transformation at the Core
The report underscores that India’s retail ecosystem is undergoing a rapid digital-first transformation. Three major forces are driving this change:
- Premium yet inclusive consumption wave among aspirational middle-class and urban youth.
- Quick commerce expansion, with India emerging as the world’s first large-scale market in the space.
- Direct-to-consumer (D2C) brand boom, bypassing traditional retail channels.
Online platforms now influence 73% of all purchase decisions. Notably, peer recommendations (51%) and YouTube reviews (40%) are emerging as more credible than celebrity-driven influencer marketing.
Quick Commerce: India Leads the World
The report identifies India as the world’s first scaled quick commerce market, operating in over 80 cities and growing at an extraordinary 70–80% CAGR.
The segment is expected to achieve $35 billion in Gross Merchandise Value (GMV) by 2030, supported by:
- Lakhs of delivery personnel.
- A rapidly expanding electric vehicle fleet.
- Integration of digital payments and hyperlocal delivery networks.
Quick commerce already contributes to 35% of e-commerce revenues for FMCG brands.
FMCG Growth and Consumer Behavior
Kumar Venkatasubramanian, CEO of P&G India and Chairman of FICCI’s FMCG Committee, noted:
“Consumers today are not just buyers, they are empowered decision-makers. Digital platforms are already driving 17% of total FMCG consumption.”
He added that the demand for immediacy, convenience, and digital payments is pushing companies to design more flexible and agile supply chains, which will be critical in converting momentum into long-term growth.
Gen Z Driving Domestic Demand
Domestically, growth is being propelled by rising incomes and younger consumers.
The report highlights that Gen Z alone commands a direct spending power of $250 billion, strengthening consumption demand and encouraging Indian brands to scale internationally.
With this demographic shift, brands are increasingly tailoring strategies to cater to Gen Z’s preference for digital-first, socially responsible, and instant-access consumption.
Why It Matters
- Global Standing: India is set to be one of the world’s largest retail markets by 2030.
- Economic Impact: A 10% CAGR growth will support jobs, manufacturing, and exports.
- Digital Leadership: India’s quick commerce model could set benchmarks globally.
- Consumer Empowerment: Purchase decisions are shifting away from traditional influence to peer-driven credibility.
Final Thoughts from TheTrendingPeople.com
India’s retail sector is no longer just a domestic growth story—it is shaping up to be a global benchmark for digital-first consumption and quick commerce innovation. The next six years could redefine India’s role in international trade, while also transforming how millions of Indians shop, spend, and interact with brands.