India’s retail sector is expected to rise by a moderate 2 per cent in July 2024 compared to the same month the previous year, according to the 53rd Retail Business Survey published by the Retailers Association of India (RAI). It elucidates the dominant tendencies across distinct retail segments across the nation. Like-for-like growth in the retail sector has not yet reached double digits.
“The retail sector in India is facing challenges as businesses are yet to witness real growth compared to the previous year. Most of the retailers are stating that they have negative growth on a like-for-like basis, which is a cause for concern. This underlines the need for strategic interventions to boost consumer demand and drive sustainable growth across the industry,” said Kumar Rajagopalan, CEO, Retailers Association of India (RAI).
Based on the survey results, sales growth in West India increased by 3 per cent, South India by 2 per cent, and North and East India by 1 per cent apiece. Among the various retail categories, apparel experienced a moderate increase of 3 per cent when compared to July 2023.
RAI urges that all parties involved in the retail business put plans into place to stimulate customer demand and promote the long-term growth of the sector.
Bharat Tex Special Report 2026 
