New Delhi [India], April 28 : A 6 per cent yearly increase in retail sales was reported in March compared to the same month of 2024, the Retailers Association of India (RAI) said, basis its survey.
The survey figures point to steady domestic demand at a time when global trade conditions remain unsettled.
Regional data showed that North and West India recorded the highest year-on-year growth at 8 per cent each.
East and South India followed with a 5 per cent rise.
Among categories, food and grocery led with 11 per cent growth, while quick service restaurants (QSR) grew by 9 per cent. Footwear and consumer durables-electronics grew at a slower rate of 2 per cent and 3 per cent, respectively.
The survey also highlights a cautious but steady outlook among retailers, with no significant drops in consumer spending. While concerns remain about the wider impact of global trade tensions, current trends suggest that domestic consumption is largely unaffected, RAI said.
In a statement, Kumar Rajagopalan, CEO of RAI, said, "Retail businesses in India reflects growth. However, double digit growth is still eluding the sector. Customers are spending cautiously but are willing to spend on aspirational and innovative products."
"Discretionary spending keeps shifting from one category to another and hence no category has been witnessing steady growth month on month," added Kumar Rajagopalan.
Retailers Association of India (RAI) serves as the voice of Indian retailers, working collaboratively with stakeholders to foster the growth of the retail industry.
Separately, in February this year, a joint report by the Boston Consulting Group (BCG) and the Retailers Association of India (RAI) asserted that India's retail sector is set to experience massive growth, with the market projected to reach Rs 190 trillion by 2034.
This projected growth was attributed to factors, including India's unique demographic trends such as rising affluence alongside a vast middle class, a large mid-aged adult population, and workforce participation by women.
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