The Indian retail industry has experienced tremendous growth over the last decade with a significant shift towards organised retailing format and development taking place not just in major cities and metros, but also in Tier II and Tier III cities.
The overall retail market in India is likely to reach $792.84 billion by 2017.
The Indian retail market, currently estimated at around $490 billion, is project to grow at a compound annual growth rate (CAGR) of 6% to reach $865 billion by 2023.
Food and grocery is the largest category within the retail sector with 60% share followed by the apparel and mobile segment.
Organised retail, which constituted 7%t of total retail in 2011–2012 is estimated to grow at a CAGR of 24% and attain 10.2% share of total retail by 2016–2017.
India has about one million online retailers – small and large – which sell their products through various e-commerce portals.
The online retail industry in the country touched $12.6 billion in 2013, according to a recent report by the Internet and Mobile Association of India (IAMAI).
The foreign direct investment (FDI) inflows in single-brand retail trading during the period April 2000 – March 2014 stood at $106.66 million.