The Indian retail industry is one of the fastest growing markets in the world due to economic growth. India's retail market is expected to double to US$ 1 trillion by 2020 from US$ 600 billion in 2015.The overall retail market will grow at 12 per cent per annum according to industry experts.The retail spending in the top seven Indian cities of India currently amounts to Rs 3.58 trillion (US$ 57.56 billion).India is expected to become the world's fastest growing e-commerce market with the rapid increase in internet users.
It is expected that India's e-commerce market will grow from US$ 2.9 billion in 2013 to over US$ 100 billion by 2020. A projection of 200 million new consumers by 2017 has been forecast.The Indian retail industry has received foreign direct investment (FDI) equity inflows to the tune of US$ 275.38 million in the period April 2000-January 2015, according to the Department of Industrial Policies and Promotion (DIPP).
Retail industry in India is expected to grow to US$ 950 billion by 2018, registering a compound annual growth rate (CAGR) of 8.9 per cent during 2000-18. The online retail market is expected to grow from US$ 3.1 billion to US$ 22 billion during FY13-FY18.India is the fifth largest preferred retail destination globally. India's price competitiveness attracts large retail players to use it as a sourcing base. India had the highest number of retail outlets in the world at over 13 million retail outlets in 2014. It also has the highest number of outlets (11,903) per million inhabitants.