The growth of the Indian retail industry

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The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. It accounts for over 10% of the country’s GDP and around 8% of the employment. India is the world’s 5th largest global destination in the retail space.
By 2020 it is expected to be $1 trillion from $600 billion in 2015.

India’s overall retail market is expected to grow at 12% p.a. Business to Business (B2B) e-commerce market is expected to reach US$ 700 billion by 2020. Online retail is expected to be at par with the physical stores in the next 5 years due to robust investments, and increasing incomes and internet usage. India’s total potential of business to consumer (B2C) is expected be US$ 26 billion.

The Indian government has allowed 100% FDI in online retail of goods and services. Paytm has set up around 30,000 to 50,000 outlets for its customers who want to load cash on digital wallets. Mobile payment services are also partnered with major companies to enable easy payment anywhere and at any time.

Kompass is a 70-year-old B2B portal that will provide you with a structured database on companies in the retail sector and details on general traders and stores. It is therefore essential that you yourself with Kompass to avail of the services for the success of your business.