India is the world’s fifth-largest global destination in the retail space. India’s retail market is expected to increase by 60% to reach US$ 1.1 trillion by 2020 with total consumption expenditure expected to reach US$ 3,600 billion by 2020 from US$ 1,824 billion in 2017.
With a GDP growth rate of around 7%, India has an edge over developed markets of the US, Europe and Japan which are expected to grow at a rate of 2-3%.