March saw a 6% rise in retail sales in India: Report
A 6 per cent yearly increase in retail sales was reported in March compared to the same month of 2024, the
Retailers Association of India
(RAI) said, basis its survey.
The survey figures point to steady domestic demand at a time when global trade conditions remain unsettled.
Regional data showed that North and West India recorded the highest year-on-year growth at 8 per cent each.
East and South India followed with a 5 per cent rise.
Among categories, food and grocery led with 11 per cent growth, while quick service restaurants (QSR) grew by 9 per cent. Footwear and consumer durables-electronics grew at a slower rate of 2 per cent and 3 per cent, respectively.
The survey also highlights a cautious but steady outlook among retailers, with no significant drops in consumer spending. While concerns remain about the wider impact of global trade tensions, current trends suggest that domestic consumption is largely unaffected, RAI said.
In a statement, Kumar Rajagopalan, CEO of RAI, said, "Retail businesses in India reflects growth. However, double digit growth is still eluding the sector. Customers are spending cautiously but are willing to spend on aspirational and innovative products."
"Discretionary spending keeps shifting from one category to another and hence no category has been witnessing steady growth month on month," added Kumar Rajagopalan.
Retailers Association of India (RAI) serves as the voice of Indian retailers, working collaboratively with stakeholders to foster the growth of the retail industry.
Separately, in February this year, a joint report by the Boston Consulting Group (BCG) and the Retailers Association of India (RAI) asserted that India's retail sector is set to experience massive growth, with the market projected to reach Rs 190 trillion by 2034.
This projected growth was attributed to factors, including India's unique demographic trends such as rising affluence alongside a vast middle class, a large mid-aged adult population, and workforce participation by women.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
37 minutes ago
- India Today
India central to key supply chains: Canada's Mark Carney on G7 invite to PM
India is the fifth-largest economy in the world, and it is central to a number of critical global supply chains, Canadian Prime Minister Mark Carney has said, arguing that the leadership of the country must be part of discussions at the upcoming G7 comments came after some of his political opponents in Canada criticised him for inviting Prime Minister Narendra Modi to the G7 summit in view of a probe into allegations of Indian links to the killing of a Khalistani separatist in Minister Modi accepted Carney's invitation to attend the G7 summit during a phone conversation on Friday. Canada is hosting the G7 summit in the Alberta province from June 15 to 17 in its capacity as the current chair of the a specific question on the case of the killing of pro-Khalistan separatist Hardeep Singh Nijjar in 2023, Carney told reporters that it is not appropriate for him to comment as the legal process in the case is Canadian prime minister said the G7 summit will deliberate on a range of key issues including energy security, digital future, critical minerals and on partnerships in building infrastructure in the emerging and developing suggested that he extended the invitation to Modi after talking to other G7 member are certain countries that should be at the table for those discussions," he said when asked why PM Modi was invited when there have been allegations of Indian links to the Nijjar case."India is the fifth-largest economy in the world; effectively the most populous country in the world. (It is) central to a number of those supply chains; (it is) at the heart of a number of those supply chains, so it makes sense," he elaborating, Carney noted that India and Canada have agreed to continue law enforcement dialogue."Bilaterally, we have now agreed importantly to continue law enforcement dialogue. There has been some progress on issues of accountability," he NDP party slammed Carney for extending the invitation to Modi. "This decision is profoundly troubling," it India-Canada relations hit rock bottom following then Prime Minister Justin Trudeau's allegations in 2023 of a potential Indian link to the killing of October last year, India recalled its high commissioner and five other diplomats after Ottawa attempted to link them to the Nijjar case. India also expelled an equal number of Canadian Liberal Party leader Carney's victory in the parliamentary election in April triggered hopes for reset of the the last few months, the security officials of India and Canada resumed contacts and both sides were looking at the possibility of appointing new high had accused Trudeau's government of allowing pro-Khalistani elements to operate from Canadian Trudeau's exit, New Delhi said it hoped to rebuild ties with Canada based on "mutual trust and sensitivity".Tune InMust Watch
Time of India
39 minutes ago
- Time of India
Gold price cools, silver stays firm at 1.04L/kg in Ahmedabad
Ahmedabad: After breaching the Rs 1 lakh mark, cooled off on Saturday to settle at Rs 99,200 per 10 grams, down by Rs 700 in a single trading session. Silver, however, continued to stay firm at Rs 1.04 lakh per kg. Tired of too many ads? go ad free now Bullion traders and analysts attributed the correction in gold to easing geopolitical tensions and profit booking by investors after a sharp rally. "Some cooling was expected as gold touched record highs recently. However, overall sentiment remains bullish in the medium term," said a bullion dealer from the city. Silver, on the other hand, maintained its upward trajectory, buoyed by strong industrial demand and global market trends. Traders anticipate volatility in both metals in the coming days, hinging on international cues, inflation data, and interest rate signals from the US Federal Reserve. Despite the dip, jewellers have hopes pinned on muhurats and the festival season for demand to regain some momentum.
Hans India
an hour ago
- Hans India
Tripura: Authorities get strict as 60 per cent consumers found not paying power bills
Agartala: Around 60 per cent electricity consumers in Tripura do not pay energy bills, forcing the authorities to take drastic steps including disconnection of power lines and imposition of hefty fines against the defaulters, an official said on Saturday. A senior official of the Tripura State Electricity Corporation Limited (TSECL) said that out of 9.87 lakh electricity consumers in the state, only 4.32 lakh customers are paying their bills on time. 'Lakhs of electricity consumers, mostly in rural and interior areas, do not pay their electricity bills. We have imposed a hefty fine and disconnected electric lines of the defaulters,' the official said. He said that during the past two years, the electricity lines of thousands of default consumers were disconnected. 'In many occasions, the TSECL engineers and workers were attacked or prevented when they went to disconnect the power lines of default consumers,' the official said. Tripura Power and Agriculture Minister Ratan Lal Nath earlier said that the TSECL has undertaken a massive effort across the state to install rooftop solar power plants in thousands of homes under the PM Surya Ghar Muft Bijli Yojana, a central scheme encouraging rooftop solar power adoption through generous subsidies. Under the scheme, residents can install rooftop solar panels and not only reduce their electricity expenses to zero but also earn refunds for surplus energy supplied back to the grid, the Minister had said. 'My last power bill before installing the solar plant was Rs 8,726. Now, after switching to solar, I received a refund of Rs 763 from TSECL,' Nath said. The TSECL purchasing power from the solar power suppliers at Rs 2.65 per unit the Minister had said adding that over 300 households have installed rooftop solar plants so far in Tripura and thousands of families registered their names seeking to install such solar plants under the PM Surya Ghar Muft Bijli Yojana. Nath on Friday said that the TSECL is contemplating to use drones and other technologies to detect power theft, power loss and illegal hook line usage in the state. The Minister urged the people to pay electricity bills on time and help the corporation to ensure steady power supply by discouraging theft and wastage. Tripura has been a power surplus state since 2011 and supplies electricity to other northeastern states and neighbouring Bangladesh from its several gas-based power plants.
