Indian Retail Sector To Touch $1.93 Trillion By 2030: Deloitte–FICCI Report

India’s retail sector will nearly double to $1.93 trillion by 2030 from $1.06 trillion in 2024, growing at a CAGR of 10 per cent, according to a Deloitte–FICCI report released on Wednesday.

Analysts said India’s deep domestic market acts as a buffer against global trade volatility.

The report noted that evolving Free Trade Agreements (FTAs) and tariff realignments are enhancing India’s export competitiveness.

Reduced barriers and cost advantages are helping ‘Made in India’ products enter new global markets.

Highlighting the consumption shift, the study said Gen Z contributes $250 billion in direct spending capacity, fuelling both domestic demand and global brand expansion.

“This convergence of domestic resilience and improved global market access positions India as both a consumption powerhouse and a formidable export base,” the report stated.

Digital-First Consumption Wave

The report said India’s retail and consumer landscape is transforming rapidly, driven by a digital-first, premium-yet-inclusive consumption wave, expansion of quick commerce, and the surge of direct-to-consumer (D2C) brands.

According to the findings, online marketplaces influence 73% of purchase decisions.

Consumers now rely heavily on YouTube reviews (40%) and peer recommendations (51%) instead of traditional influencer marketing.

India has emerged as the world’s first scaled quick commerce market, present in over 80 cities and growing at a CAGR of 70–80%.

The report projects that quick commerce will hit $35 billion in Gross Merchandise Value (GMV) by 2030.

FMCG Growth Linked to Digital

“Consumers today are not just buyers; they are empowered decision-makers,” said Kumar Venkatasubramanian, CEO of P&G India and Chairman of the FICCI FMCG Committee.

He noted that digital platforms already account for 17% of FMCG consumption, while quick commerce generates 35% of FMCG brands’ e-commerce revenue.

Kumar stressed that growth in e-commerce and quick commerce, supported by digital payments and electric delivery fleets, demands flexible supply chains.

“Agile supply models will become a competitive differentiator,” he said.

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