Organised retail expected to reach $230 billion in India by 2030 : Report

India's organized retail sector is experiencing rapid growth, driven by rising disposable incomes and changing consumer preferences, and is projected to reach $230 billion by 2030, according to a joint report by Deloitte and the Retailers Association of India.
India's organized retail sector is experiencing rapid growth, driven by rising disposable incomes and changing consumer preferences, and is projected to reach $230 billion by 2030, according to a joint report by Deloitte and the Retailers Association of India.
The report, titled A Roadmap for Brands, indicates that India's organized retail sector is growing at a 10% compound annual growth rate (CAGR). It also highlights a shift in consumer behavior, with an increasing focus on experience-led retail spaces, omnichannel shopping (both in-store and online), and hyper-personalized services. These changes are prompting brands to rethink their engagement strategies.
India's private consumption has surged from $1 trillion in 2013 to $2.1 trillion in 2024, growing at a 7.2% CAGR, outpacing the growth rates of the US, China, and Germany. The report forecasts that by 2030, India’s GDP will reach $7.3 trillion, with consumption contributing 60% to the economy, solidifying the country's position as a global consumption powerhouse.
Anand Ramanathan, Partner and Consumer Industry Leader at Deloitte India, noted that India’s consumer landscape is undergoing a fundamental transformation. He added, "The surge in discretionary spending, expanding digital commerce, and increasing access to credit are reshaping how brands engage with consumers. By 2030, India’s per capita income is expected to exceed $4,000, creating new opportunities across sectors."
Kumar Rajagopalan, CEO of the Retailers Association of India (RAI), emphasized that India’s discretionary spending is entering a new phase of growth, driven by higher incomes, digital adoption, and evolving consumer preferences. "This joint report by RAI and Deloitte provides a roadmap for brands to navigate these changes and create meaningful engagement with today’s aspirational consumers," he said.
The report also highlighted that by 2030, the number of Indians earning over $10,000 annually will nearly triple, from 60 million in 2024 to 165 million. This growth underscores the rapid expansion of India’s middle class and a shift toward increased discretionary spending.
"With rising affluence, consumers are placing a higher priority on quality, convenience, and experiences over price," the report noted. Gen Z and millennials, who represent 52% of the population, are driving this shift, fueling demand for premium brands, sustainable products, and personalized experiences.