STATUS OF RETAIL SECTOR IN INDIA

Retailing refers to the process of selling goods and services in small quantities to final customer. Retailers sources products from different wholesalers / manufacturers and sell them to final consumers. In short retailing encompasses the business activities involved in selling goods and services to consumers for their personal, family or household use. Retailing is the last link that connects the individual consumer with the manufacturer. In 2004 the total retail business is Rs.9300 billion out of which only 3.01 percent is the share of organized retail. The total retail size has grown up to Rs.58824 billion in 2020 and the share of organized retail around 10 percent. In the financial year 2021 FMCG market reached to us$103.70 billion and online grocery market’s turnover was about US$3.95 billion. The Indian retail sector has become one of the biggest sectors in terms of contribution in GDP (10%) and in employment (8%) in 2022. In this paper there is an attempt to analyze the status of retail sector in India