The Indian Retail Industry is the largest among all the industries, accounting for over 10 per cent of the country’s GDP and around 8 per cent of the employment. The Retail Industry in India has come forth as one of the most dynamic and fast paced industries with several players entering the market. Indian retail is expected to grow 25 per cent annually. Modern retail in India is worth US$ 175-200 billion by 2016. The future of the India Retail Industry looks promising with the growing of the market, with the government policies becoming more favorable and the emerging technologies facilitating operations.
FACTS AND EXTRA DETAILS: Market Size
i. India has been the world's largest producer of milk for the last two decades and contributes 19 per cent of the world's total milk production. ii. India is emerging as the export hub of instant coffee which has led to exports of coffee increase 17 per cent in calendar year 2017 to reach US$ 958.80 million. iii. India topped the list of shrimp exporters globally in 2016 with exports of US$ 3.8 billion which are expected to double to US$ 7 billion by 2022. iv. Total area in India, sown with rabi crops reached 61.79 million hectares in January 2 2018. v. India is the second largest fruit producer in the world. India's horticulture output reached 300.64 million tonnes in 2016-17 and is expected to reach 305.43 million tonnes in 2017-18. vi. Agricultural export constitutes 10 per cent of the country’s exports and is the fourth-largest exported principal commodity. Agricultural exports from India reached US$ 24.66 billion during April-November 2017 with exports of basmati, buffalo meat reaching US$ 2.61 billion and US4 2.76 billion, respectively. vii. India is the largest producer, consumer and exporter of spices and spice products. Spice exports from India grew by 6 per cent year-on-year between April-September 2017 to US$ 1.37 billion. viii. Dairy sector in India is expected to grow at 15 per cent CAGR to reach Rs 9.4 trillion (US$ 145.7) billion by 2020. ix. The online food delivery industry grew at 150 per cent year-on-year with an estimated Gross Merchandise Value (GMV) of US$ 300 million in 2016. The sector grew 15 per cent every quarter during January-September 2017.