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The Hindu
11 hours ago
- Business
- The Hindu
Retail sector may soon jump into a 9-10% growth mode: Retailers' Association of India
The Indian retail sector, pegged at $900 billion and growing at 5% currently, is expected to soon jump into a 9-10% growth pace, as markets seem quite ready with right consumer base and increasing spending power, according to the Retailers' Association of India (RAI), a trade body which represents chain store retailers, independent retailers, e-commerce players and retail service/technology providers across the country. 'Immediately after the pandemic, the retail sector got into a 20% growth, but in the last one year the growth has slowed to 5%, but we expect the growth to get into 9% to 10% range soon,' CEO Kumar Rajagopalan told The Hindu. He said the emerging industry trends indicated increased consumption backed by the right consumer base and growing disposable incomes. 'So, we are soon expecting a jump in the pace of growth from current levels to match the market demand. We've got the population to support.' According to him, India's growth towards becoming the third-largest economy is making a significant difference. ''So, everything is going towards better consumption, as per capita income increases, consumption increases. So I think there's a lot that's happening; however, the competitive framework of Indian retailing is also changing drastically,'' he added. He further said the country's retail industry was increasingly becoming organised. For instance, 10 years ago, only 4% to 5% of the industry was under the organised category, while today, 17% of the total industry is organised. 'This conversion, from unorganised to organised, is happening on many fronts. Many of the traditional businesses are turning to be organised as the new generation takes over the leadership. Also, e-commerce is pushing the growth of organised businesses. Plus, various measures of the government are also encouraging retailers to get organised with the introduction of GST, digital money etc., streamlining and making retailing easier,'' Mr. Rajagopalan observed. Commenting on the challenges faced by the industry, he said the industry knew the business was completely changing itself, with the omnichannel concept gaining wide acceptance. Customers were buying online as well as offline. He also said there was a huge amount of competition happening in the sector because the barriers to entry are completely shattered now. So the industry was trying to see how they could adapt themselves to the growing needs of fast-paced consumers of the modern day, Mr. Rajagopalan said. 'There's a fight for a share of customers' time. It's becoming difficult to get the attention of customers. guess this is true for all businesses as customers are totally distracted by too many things around. So retailers have the challenge to make their messaging quite engaging, clear, and rightly attractive to customers,' he opined. On the people front, he said, there were a lot of people available in the industry, but quality talent, retaining the existing talent and developing talent remained a big challenge. The retail industry employs over 40 million people, probably the second largest after agriculture and allied sectors.
Fashion Value Chain
2 days ago
- Business
- Fashion Value Chain
RAI RETAIL BUSINESS SURVEY INDICATES 7% GROWTH IN MAY 2025
The Retailers Association of India (RAI) has reported a 7% year-on-year increase in retail sales for May 2025, reflecting a rebound in consumer sentiment and spending. The findings are part of RAI's 62nd Retail Business Survey, which captures performance across retail segments and regions. RAI CEO Kumar Rajagopalan commented on the upward trend: 'After months of moderate 4–5% growth, the 7% uptick marks a strong sign of recovery in discretionary categories. This momentum boosts optimism for the upcoming festive season.' Regional Highlights: South India outperformed with 9% growth , West India followed with 7% , North India rose by 6% , East India trailed with 4%. Category-wise Performance: Quick Service Restaurants (QSR) led all segments with 10% growth , Consumer Durables & Electronics (CDIT) and furniture categories grew by 8% each. The survey suggests a growing appetite for discretionary purchases and a more buoyant retail climate, reinforcing a positive trajectory for the rest of the year.
The Print
09-06-2025
- Business
- The Print
India poised to benefit from FTAs, says RAI CEO Kumar Rajagopalan
FTAs will also give Indians access to items that get manufactured abroad at a more convenient pricing, he added. 'We are among the most attractive markets, with a growing young population that makes us one of the world's largest consumer markets with insatiable demand for the best in the world,' said Retailers Association of India (RAI) CEO Kumar Rajagopalan at an event here. Singapore, Jun 8 (PTI) India has emerged as a 'great place' to use the advantages accruing from Free Trade Agreements (FTAs), a senior retail industry official said as he highlighted the success of Make in India programme. But he was also quick to dismiss notions of dumping cheap inferior goods into the Indian market, pointing out that the country has created laws that can protect against such trade-damaging practices, and that can be challenged at the World Trade Organization. According to Kumar, a trade veteran of 40 decades, a full-fledged quality control checking system is in place to ensure Indian consumers are getting the best products as imports of edibles is set to increase following the signing of more and more FTAs by the Indian government in an endeavour to reach out the global markets. India has always imported consumer products from around the world but in recent years with the economic prosperity momentum picking up, the country has become 'more and more attractive as a consumer-driven market', given the young population with rising income seeking the best quality, cost-effective, long-lasting and appealing products, Kumar pointed out. FTAs are increasing India's bilateral trade globally, covering value-added high-end and heavy-duty industrial products to edibles such as soybeans, cheeses, vines and beverages. RAI leads about 2,500 members, mostly retailers at national level, with an annual business volume of about USD 900 billion, that is set to grow at 10 per cent annually. Speaking to PTI after participating in the National Retailers Federation's 2025 for Asia Pacific held in Singapore during June 3-6, Kumar pointed out that the Make in India programme is producing world-class high-standard products both for the domestic market as well as export, 'thanks to the FTAs opening more export opportunities'. Kumar also sees competition from world-class products for Make in India. 'Imports and exports will create a competitive landscape and we will see further upgrades in manufacturing processes within India to make globally-rated products be it hardware, software and or edibles.' India, he said, produces agri and non-agri products for consumers as well as industrial plants for the world. He said that 85 per cent of the 7,00,000 stores in India are still operating in traditional formats, ranging from the corner shop Kiraana to single store supplying everything in the range of garments and edibles, competing with mega modern-day fast-pace trading department stores, online and offline supply chain operators. Fast and quick-commerce have reduced delivery time to 10 minutes while e-commerce and online payments have made retailing business easier and prompt, he observed. A latest example of India made products from design to garment production is Mumbai-headquartered 'Fynd', an artificial intelligence-driven commerce platform that is serving the Indian market as well as the Middle East and Africa markets. NRF 2025 had 9,500 trade visitors from over 72 countries, alongside participation from 240 exhibitors and sponsors, and 150 conference speakers. PTI GS ANU This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
09-06-2025
- Business
- Time of India
India poised to benefit from FTAs, says RAI CEO Kumar Rajagopalan
SINGAPORE: India has emerged as a 'great place' to use the advantages accruing from Free Trade Agreements (FTAs), a senior retail industry official said as he highlighted the success of Make in India programme. 'We are among the most attractive markets, with a growing young population that makes us one of the world's largest consumer markets with insatiable demand for the best in the world,' said Retailers Association of India (RAI) CEO Kumar Rajagopalan at an event here. FTAs will also give Indians access to items that get manufactured abroad at a more convenient pricing, he added. But he was also quick to dismiss notions of dumping cheap inferior goods into the Indian market, pointing out that the country has created laws that can protect against such trade-damaging practices, and that can be challenged at the World Trade Organisation. According to Kumar, a trade veteran of 40 decades, a full-fledged quality control checking system is in place to ensure Indian consumers are getting the best products as imports of edibles is set to increase following the signing of more and more FTAs by the Indian government in an endeavour to reach out the global markets . Live Events India has always imported consumer products from around the world but in recent years with the economic prosperity momentum picking up, the country has become 'more and more attractive as a consumer-driven market', given the young population with rising income seeking the best quality, cost-effective, long-lasting and appealing products, Kumar pointed out. FTAs are increasing India's bilateral trade globally, covering value-added high-end and heavy-duty industrial products to edibles such as soybeans, cheeses, vines and beverages. RAI leads about 2,500 members, mostly retailers at national level, with an annual business volume of about USD 900 billion, that is set to grow at 10 per cent annually. Speaking to PTI after participating in the National Retailers Federation's 2025 for Asia Pacific held in Singapore during June 3-6, Kumar pointed out that the Make in India programme is producing world-class high-standard products both for the domestic market as well as export, 'thanks to the FTAs opening more export opportunities'. Kumar also sees competition from world-class products for Make in India. "Imports and exports will create a competitive landscape and we will see further upgrades in manufacturing processes within India to make globally-rated products be it hardware, software and or edibles.' India, he said, produces agri and non-agri products for consumers as well as industrial plants for the world. He said that 85 per cent of the 7,00,000 stores in India are still operating in traditional formats, ranging from the corner shop Kiraana to single store supplying everything in the range of garments and edibles, competing with mega modern-day fast-pace trading department stores, online and offline supply chain operators. Fast and quick-commerce have reduced delivery time to 10 minutes while e-commerce and online payments have made retailing business easier and prompt, he observed. A latest example of India made products from design to garment production is Mumbai-headquartered 'Fynd', an artificial intelligence-driven commerce platform that is serving the Indian market as well as the Middle East and Africa markets. NRF 2025 had 9,500 trade visitors from over 72 countries, alongside participation from 240 exhibitors and sponsors, and 150 conference speakers.
Economic Times
09-06-2025
- Business
- Economic Times
India poised to benefit from FTAs, says RAI CEO Kumar Rajagopalan
Live Events SINGAPORE: India has emerged as a 'great place' to use the advantages accruing from Free Trade Agreements (FTAs), a senior retail industry official said as he highlighted the success of Make in India programme.'We are among the most attractive markets, with a growing young population that makes us one of the world's largest consumer markets with insatiable demand for the best in the world,' said Retailers Association of India (RAI) CEO Kumar Rajagopalan at an event will also give Indians access to items that get manufactured abroad at a more convenient pricing, he he was also quick to dismiss notions of dumping cheap inferior goods into the Indian market, pointing out that the country has created laws that can protect against such trade-damaging practices, and that can be challenged at the World Trade to Kumar, a trade veteran of 40 decades, a full-fledged quality control checking system is in place to ensure Indian consumers are getting the best products as imports of edibles is set to increase following the signing of more and more FTAs by the Indian government in an endeavour to reach out the global markets India has always imported consumer products from around the world but in recent years with the economic prosperity momentum picking up, the country has become 'more and more attractive as a consumer-driven market', given the young population with rising income seeking the best quality, cost-effective, long-lasting and appealing products, Kumar pointed are increasing India's bilateral trade globally, covering value-added high-end and heavy-duty industrial products to edibles such as soybeans, cheeses, vines and leads about 2,500 members, mostly retailers at national level, with an annual business volume of about USD 900 billion, that is set to grow at 10 per cent to PTI after participating in the National Retailers Federation's 2025 for Asia Pacific held in Singapore during June 3-6, Kumar pointed out that the Make in India programme is producing world-class high-standard products both for the domestic market as well as export, 'thanks to the FTAs opening more export opportunities'.Kumar also sees competition from world-class products for Make in India. "Imports and exports will create a competitive landscape and we will see further upgrades in manufacturing processes within India to make globally-rated products be it hardware, software and or edibles.'India, he said, produces agri and non-agri products for consumers as well as industrial plants for the said that 85 per cent of the 7,00,000 stores in India are still operating in traditional formats, ranging from the corner shop Kiraana to single store supplying everything in the range of garments and edibles, competing with mega modern-day fast-pace trading department stores, online and offline supply chain and quick-commerce have reduced delivery time to 10 minutes while e-commerce and online payments have made retailing business easier and prompt, he observed.A latest example of India made products from design to garment production is Mumbai-headquartered 'Fynd', an artificial intelligence-driven commerce platform that is serving the Indian market as well as the Middle East and Africa 2025 had 9,500 trade visitors from over 72 countries, alongside participation from 240 exhibitors and sponsors, and 150 conference speakers.
