Retail Market to Reach $100 Billion in Five Years, Economy to Hit $7.3 Trillion – Key Highlights from the Report

New Delhi, 27th February 2025: Deloitte and Retail Association of India (RAI) believe that by the year 2030, the size of the Indian economy will be 7.3 trillion dollars, and the organized retail business is going to benefit a lot from this. Growth is expected across various consumer industries, including food, garments,
footwear, electronics (ACs, refrigerators, TVs), and automobiles (cars, motorcycles).

As the economy expands, the per capita annual income is estimated to be Rs 3.40 lakh (4000 dollars) by the year 2030. According to the report released by Deloitte and RAI, due to the increase in private consumption, the organized retail business will become 230 billion dollars by the year 2030, up from the current 132 billion dollars.

Retail business is expected to grow by 10 percent every year

The organized retail business is expected to grow at the rate of 10 percent every year. Online business will grow at an average rate of 21 percent in the next five years and its business will increase from $103 billion to $325 billion. The report says that when the economy and per capita income of any country grows, private consumption increases and savings decrease.

Only 57 people out of a thousand have a car

Currently, India has only 57 cars per 1,000 people, compared to 850 per 1,000 in the U.S. Similarly, only eight percent people in India have AC in their homes, while in China, 90 percent of people have AC in their homes. Additionally, spending on restaurants, travel, and leisure remains significantly lower than in developed nations.

20 percent said that if income increases, they will dine at good restaurants

All these sectors are expected to grow in the next five years. According to the report, 20 percent of people said that if income increases, they will go to eat in good restaurants, nine percent people said that they will enjoy eating outside from quick service restaurants, while seven percent people said they will go to places
like pubs, bars, lounges.

How much will the retail food market be by 2030

The demand for packed food and imported food is also expected to increase.

Retail food market: Expected to grow from $620 billion to $940 billion by 2030.

Food service industry: Set to expand from $80 billion to $140 billion.

Apparel & footwear market: Projected to reach $106 billion by 2028, up from $78 billion in 202