Retail in Asia

In Markets

India retail to hit USD1.2tr by 2020

India’s retail sector is expected to be worth USD1.2 trillion by 2020, rising to USD2.1 trillion by 2025, the Confederation of Indian Industry (CII) has forecast.

That would represent huge growth on current retail sales of USD550 billion and the expansion will be helped by rapid growth of ecommerce, which the industry body expects to grow from USD2.9 billion in 2013 to over USD100bn by 2020.

According to its Indian Retail Medley report, released jointly with Wazir Advisors, the management consultancy, a number of factors will fuel the growth but the internet will be the most important.