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Events / India's Retail Market to Double by 2035
Business market forecast

India's Retail Market to Double by 2035

Analysis based on 10 articles · First reported Feb 16, 2026 · Last updated Feb 17, 2026

Sentiment
70
Attention
4
Articles
10
Market Impact
Direct
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Market Impact

The report forecasts a significant expansion of India's retail market, indicating strong growth opportunities for retailers who adopt AI and adapt their business models. This positive outlook for India's economy and retail sector is likely to attract investment and drive innovation.

Retail Technology Consulting
Event Summary

A joint report by Boston Consulting Group and the Retailers Association of India, titled 'Winning Codes for Retail 2035: Capturing the ₹200 Trillion Prize', was unveiled at the Retail Leadership Summit 2026 in Mumbai. The report projects India's retail market to more than double from Rs 90-95 trillion in 2025 to Rs 210-215 trillion by 2035. This growth is attributed to India's resilient economy, which is on track to become the world's third-largest, and a sharp rise in digital adoption. The report emphasizes the transformative role of Artificial intelligence, particularly 'agentic commerce', in shaping consumer behavior and enabling significant performance gains for retailers. It urges retailers to reassess traditional assumptions, deliver differentiated value propositions, and embrace AI-led functional transformations across merchandising, supply chain, marketing, and service to capture future market value.

Key Actions
100 India projected to double retail market size
80 Boston Consulting Group co-authored and released report Retailers Association of India
80 Retailers Association of India co-authored and released report Boston Consulting Group
Entities Involved
cnt
India
India's retail market is projected to more than double by 2035, driven by its resilient economy and increasing digital adoption. This growth positions India to become the world's third-largest economy.
Importance 100 Sentiment 75
priv
Boston Consulting Group
Boston Consulting Group co-authored the 'Winning Codes for Retail 2035' report, providing insights into the future growth of India's retail sector and the role of AI.
Importance 80 Sentiment 60
ngo
Retailers Association of India
The Retailers Association of India co-released the report, emphasizing the need for retailers to embrace structural changes and AI-led transformation to capture future market value.
Importance 80 Sentiment 60
per
Abheek Singhi
Abheek Singhi, Managing Director & Senior Partner at Boston Consulting Group, highlighted the inspiring growth story of India's retail sector and the importance of differentiated value propositions and AI.
Importance 50 Sentiment 60
per
Bharat Mimani
Bharat Mimani, Managing Director & Partner at Boston Consulting Group, noted the global influence of 'agentic commerce' and the potential for 40-60% performance gains through end-to-end AI transformations.
Importance 50 Sentiment 60
per
Kumar Rajagopalan
Kumar Rajagopalan, CEO of the Retailers Association of India, stressed that future market opportunities will be captured by retailers making explicit business model choices and embedding AI.
Importance 50 Sentiment 60
Relationships
Boston Consulting Group related ↔ Retailers Association of India
India related ↔ Boston Consulting Group
India related ↔ Retailers Association of India
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