What:  Reliance Retail is predicted to lead the retail industry in the next decade due to India’s growing retail sector.

Why it is important: India’s growing GDP per capita will push Reliance Retail to the front of the retail industry.

Reliance Retail crossed 1 billion transactions in 2023 and the company’s financials have seen an upwards trend- operating revenue growing 30.4% YOY and EBITDA jumping 44.7%. The business has added over 3,300 new stores making the total store count 18,040 across India.

The per capita GDP of India has passed the USD 2,000 threshold which is promising for the retail industry as discretionary spending is also likely to trend upwards. Paired with Reliance Retail’s customer base of 249 million people, the company is the largest retailer in the country and is set to expand even more.

Reliance Retail operates stores in the electronics, fashion apparel, beauty, grocery, footwear, food, jewellery, toys, and e-commerce industry as well as luxury and lifestyle.

Reliance Retail says it is set to lead the retail industry in the coming decade