India's retail sector is undergoing exponential growth. The Indian retail market is the third-largest in Asia and fourth-largest in the world. Our price competitiveness and the 'Make in India' initiative have made us an attractive global sourcing base, and this has helped the Indian retail sector surge to global heights. According to a research report by Forrester Research in 2020, India's retail sector was estimated at US$ 883 billion. With the accelerated push for E-Commerce due to COVID-19, the current growth we are witnessing is just the tip of the iceberg.
Inventive India is a unique initiative undertaken by Darwin Platform Group of Companies. The initiative highlights a brand that follows the Atmanirbhar Bharat Vision & showcases how different industries and sectors can contribute towards building the nation. In this episode, we delve deep into India's ever-dynamic retail sector, changing consumer behaviour & new emerging trends. The episode had esteemed guests like Raja R. Choudhary, Group CEO, Darwin Platform Group of Companies, Dr. Prof. Yamini Agarwal, Director, Bharati Vidyapeeth Deemed University Institute of Management & Research, C. Gopalakrishnan- Founder, N dairy farm Pvt. Ltd, and Praveen Khandelwal, the National Secretary-General of the Confederation of All India Traders. Each panelist shared their detailed insights & projections on the Indian retail sector.
"When we look at retail, a distinct trend is emerging in the prioritization of brand assortment & the Eskew range. Retailers continue to respond to supply chain restrictions by evolving & optimizing stocking behaviour," says Raja R. Choudhary, Group CEO, Darwin Platform Group of Companies.
The government has undertaken several steps to facilitate growth & development in the retail sector. As India moves towards a new era of self-reliance, it is important to understand & gauge the dynamic nature of the Indian retail sector.