India USD1.3T by 2020

Indian retail market to touch USD1.3 trillion by 2020, said minister. The Indian retail market is poised to touch USD1.3 trillion by 2020 and the industry has the responsibility to provide quality goods and services at affordable prices, Consumer Affairs Minister K V Thomas said on Wednesday.

The consumer behaviour is also experiencing a transition with trends like online shopping, he said at an event organised by FICCI. With consumer awareness improving dumping of cheap goods from neighbouring countries is slowing down, he added.

“The Indian retail market is poised to reach USD1.3 trillion by 2020 and therefore it will provide a tremendous growth opportunity for retail and FMCG players alike,” Thomas said, a week after government relaxed foreign direct investment (FDI) norms in multi-brand retail.

Source: Business Standards

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