July 3, 2024
1 min read

India’s retail market attracts investors

The report further states that right of the total funding rounds in the first half of 2024 have raised more than $100 million….reports Asian Lite News

India’s consumption story has been attracting investors. In the first half of 2024, retail startups in the country raised 32 per cent more funds as compared to the same period last year.

Data intelligence firm Tracxn report said that funding for the retail sector has increased by 32 per cent to $1.63 billion in the first half of 2024, which was $1.23 billion in the first half of 2023.

The report further states that right of the total funding rounds in the first half of 2024 have raised more than $100 million.

Flipkart has raised $350 million, Apollo 24/7 has raised $297 million and Meeso has raised $275 million, which shows investors are very optimistic about the retail sector growth.

India is the fastest-growing major economy in the world.

In FY 2023-24 GDP growth rate was 8.2 per cent which is estimated to be 7.2 per cent in the current financial year.

Due to the economic growth, consumption in India is also increasing rapidly.

According to a UBS report, consumption in India has almost doubled in the last decade. Last year it was at $2.1 trillion.

India plans to become the world’s third-largest economy by 2026.

Last year, consumption in India grew faster than other major economies of the world such as China, US, and Germany.

According to the Household Consumption Expenditure Survey, since 2011-12, spending in rural areas has increased by 164 per cent and in urban areas by 146 per cent.

The survey said that in monthly per capita consumption expenditure (MPCE) 2022-23, compared to 2011-12, the expenditure in rural areas has increased by 164 per cent to Rs 3,773 and the expenditure in urban areas has increased by 146 per cent to Rs 6,459

ALSO READ: India, ASEAN Unite for Retail Payments

Previous Story

Electronics industry Pins Hopes on Budget

Next Story

India’s $500B Green Drive

Latest from Business

India’s E&M Sector Enters a New Growth Phase

India’s cinema market is multilingual, and many regional industries are now rivalling Hindi output in volume and box-office share … writes Rafeek Ravuther The Indian film sector is undergoing a meaningful transformation.

SBI Simplifying KYC Process

SBI’s research arm noted that the RBI’s decision to maintain the policy rate reflects a balanced approach amid global uncertainties, supported by stable liquidity and external conditions State Bank of India (SBI)

UPI Powers Digital Revolution

New innovations such as LiteX (offline payments), tap-and-pay, credit card integration, UPI Autopay, and UPI for IPO subscriptions are pushing the platform from a payment tool to a full-fledged embedded finance ecosystem Unified

RBI Holds Rates, Boosts Outlook

One of the most significant announcements was the upward revision of India’s GDP growth forecast for FY 2025–26—from 6.5% to 6.8% In a move reflecting cautious optimism, the Reserve Bank of India
Go toTop

Don't Miss

Memorial Kick: A football legend’s legacy

Habib stood out as one of the rare players who

India Eyes Gigabit Connectivity for All by 2030

Fixed broadband subscriptions in India are at a mere 2.85