Retail and Lifestyle

The Indian retail sector is likely to grow at a compound annual growth rate (CAGR) of 13% to reach £624 billion by 2018, while online retail is estimated to grow four times to reach USD 14.5 billion for the same period. The exponential growth of online retail can be attributed to key factors such as increased internet penetration, proliferation of smart phones and credit cards, value-add services such as ‘cash-on-delivery’ and most importantly, a dramatic shift in consumer attitudes and buying behaviour. India allows 100% FDI in single-brand retail and up to 51% FDI in multi-brand retail, subject to certain conditions. 100% FDI is permitted under the automatic route for the food processing sector and for wholesale trading businesses, inclusive of B2B e-commerce. Online retail is expected to be at par with the physical stores in the next five years and India’s e-commerce market is estimated to reach £60 billion by 2019. With organised retail penetration at 19% as of 2014, opportunities exist for UK retailers, food and drink producers, and logistics and other associated services.

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