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India's retail sector is projected to nearly double to USD 1.93 trillion by 2030, growing at a 10 per cent CAGR, with the momentum anchored by a deep home market that acts as a buffer against global trade volatility, according to a Deloitte-FICCI report. The country's retail and consumer landscape is undergoing a transformation, powered by robust domestic consumption alongside a surge in digital adoption, premiumisation and the rapid rise of e-commerce across both urban and emerging markets, it said. As per the report titled 'Spotting India's PRIME Innovation Moment', India's retail sector was valued at USD 1.06 trillion in 2024, and the rising purchasing power, including Gen Z's direct spending capacity of USD 250 billion, is not only sustaining domestic demand but also fuelling brand confidence to scale internationally. Evolving Free Trade Agreements (FTAs) and tariff realignments are further enhancing India's export competitiveness, allowing 'Made in India' products to reach new
The overall household consumption is set to pick up in the next two to three quarters on rural strength, a Swiss brokerage said on Tuesday. Softened inflation, which boosts purchasing power, improving crop outlook on good monsoons and a USD 20 billion social welfare spends on women are set to strengthen rural consumption, UBS Securities said in a report. Urban consumption will "stabilise" on aspects like RBI's rate cuts, USD 10 billion of policy stimulus through personal income tax changes and improved availability of credit, it said. "Even as rural activity is gaining traction, we believe it is still too early to expect a broad-based recovery in household consumption, as rural consumption accounts for less than half a percentage share of the total," its chief India economist Tanvee Gupta Jain said. "In our base case, we expect overall household consumption to start picking up over the next 2-3 quarters as rural consumption strengthens," she said. There is a "divide" within rural
Tata Sons Chairman N Chandrasekaran on Monday exuded confidence that the future looks "very strong and bright" as growing consumption in India will drive the growth of the travel sector, sharing his outlook at the Tata Group-owned Indian Hotels Company Limited's (IHCL) AGM. Addressing shareholders of IHCL, the country's biggest hospitality player, Chandrasekaran shared that the "intent is to achieve a total global footprint of 700 hotels by 2030 and double the revenues to cross Rs 15,000 crore". The Tata Sons Chairman began his address at the Annual General Meeting (AGM) by paying tributes to those who lost their lives at the Air India plane crash recently, and also expressed a "deep sense of loss" at the passing away of Ratan Tata last October. "To lose a single person we know is a tragedy, but for so many deaths to occur at once is incomprehensible. Our thoughts are with them. I also would like to express a deep sense of loss on the passing away of Ratan Tata in October 2024. "He
Intake of cereals and pulses came down in both rural and urban areas, while consumption of milk and its products showed an increase in 2023-24, according to a government report. The Household Consumption Expenditure Surveys (HCES) conducted during August 2022 July 2023 and August 2023 July 2024 showed that the consumption of egg, fish and meat has gone up in rural areas, though it remained the same in urban areas. The study showed the proportion of cereals in the consumption has decreased from 38.8 per cent in 2022-23 to 38.7 per cent in 2023-24 in urban areas. In the case of rural India, the proportion has decreased from 46.9 per cent to 45.9 per cent. For pulses, the proportion of consumption declined from 9.6 per cent to 9.1 per cent in urban areas and from 8.8 per cent to 8.7 per cent in rural areas. On the other hand, the proportion of milk and its products in the diet in urban areas increased from 12.8 per cent to 12.9 per cent, while in rural areas it rose from 10.6 per c