Retail sector in Indian projected to grow to $1.3 trillion by 2020

According to Anarock Retail, India’s retail sector is projected to grow to $1.3 trillion by 2020 from the level of $672 billion in 2017. It mentions that the sector is on a faster roll than ever before and the boosters acting on retail sector are rapid urbanisation and digitisation, rising disposable incomes and lifestyle changes, particularly that of the middle-class. Over the last two decades, the Indian retail market witnessed phenomenal changes, evolving rapidly from traditional shops to large multi-format stores in malls offering a global experience, and on to the highly tech-driven e-commerce model. These changes have resulted in unprecedented growth in overall consumption with numbers suggesting that consumer expenditure in India is expected to almost double to $3,600 billion by 2020 from $1,824 billion in 2017. This growth projection is an unprecedented business opportunity for the signage companies engaging in in-store branding, fabrication and others.