The market for retail traders in India is booming like never before.
The Indian retail market today is a successful industry and has a market size that is very large. By 2020, the market is expected to double to around $ 1 trillion from $ 600 billion in 2015. It is expected to grow at 12% per annum. The country is also expected to be the world’s fastest growing e-commerce market due to the robust investment and the increase in income growth and internet users. The Indian retail industry comprises of two categories like organized and unorganized retailing. It so happens that the industry is actually dominated by the unorganized sector with 95% to 97% share. Even in the organized sector, there are many key players and foreign brands and investors who are successfully earning profits and growing. Online retailing also needs mentioning due to the popular brands that are involved in a big way. Various segments of retailing like food and grocery, apparel, beauty and wellness, furniture, appliances and more are highly popular among the customers.
Role of government in retail industries
The government has approved 100% FDI in the single brand product retailing. In the multi-brand retail sector, the government has permitted 51% FDI. The increased foreign players have also given the retail industry a boost. Many of them are sourcing from here and moving to third party buying offices to starting out their own owned offices. The retail industry has contributed to the Indian economy on a large scale. Paytm has set up around 30,000 to 50,000 outlets for its customers who want to load the cash on digital wallets. Mobile payment services too are partnered with other major companies to make payment easy and anywhere.
B2B portal Kompass
For the faster growth and profits in the business, it is important that you are listed in the Kompass B2B portal. It helps to get connected with several people and gain the much-needed exposure and customers.