Retail sales contribute $787 billion to India’s GDP, with staple food consumption accounting for $125 billion

Beauty products by Nykaa, an Indian beauty products retailer, are seen for sale in a store at a mall in New Delhi
Nykaa Beauty Products. MeelBijendra/Kanishka

MUMBAI, Aug 21 (MeelBijendra) – Currently, India’s GDP is $3.2 trillion, which includes $1 trillion in investment, $1.9 trillion in consumption, $0.4 trillion in government, and $0.1 trillion in net exports.

Retail sales contribute $787 billion to India’s GDP, including grocery and food $503 billion, apparel and accessories $114 billion, and electronics $60 billion.

Grocery and food sales include fresh food $251 billion, loose & packaged staples $125 billion, out-of-home $75 billion, dairy $25 billion, soft drinks $12.5 billion, beauty and personal care $12.5 billion, and home care $6.25 billion.

Apparel and accessories include apparel and footwear $53 billion, fine jewelry $53 billion, and other personal goods $8 billion. Electronics include home improvement $21 billion and others $39 billion.

Only 12% of the Indian retail sales market is organized, up from 11% in FY 2019, while 88% is still unorganized. In addition, 93% of retail sales were through offline stores, 6.5% through e-commerce, and 0.5% through other channels.

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