Reliance Industries has declared India’s retail sector among the fastest-expanding consumer markets in the world, citing strong growth fundamentals and a promising decade ahead. In its FY25 annual report, the conglomerate credited favorable government policies, rising disposable incomes, surging rural demand, and technological innovation for fueling this momentum.
The company’s retail arm—which spans consumer electronics, grocery, fashion, lifestyle, and private labels—generated gross revenue of $37.84 billion in FY25, marking a 7.9% year-on-year increase. EBITDA rose to $2.87 billion, an 8.6% improvement over FY24. Reliance expanded its footprint aggressively, adding 2,659 stores in a single year to reach 19,340 outlets nationwide—making it the largest retailer in India. Its registered customer base has now crossed 349 million.
Reliance is positioning itself for the next growth phase by expanding private label offerings, forging exclusive brand partnerships, and investing in artificial intelligence and data analytics to enhance efficiency and deepen customer engagement. The company also plans to scale regional brands and explore new retail segments to diversify its presence.
Referencing a Boston Consulting Group–Retailers Association of India study, Reliance projected the country’s retail market will surge to $2.17 trillion by 2034, growing at a compound annual rate of 9%. Organised retail currently accounts for only 18% of the market, leaving the remaining 82% in the hands of unorganised operators, such as local kirana stores—signifying vast untapped potential for formal players.
The report underscored that India is poised to become the world’s third-largest retail market by 2030, as both urban and rural consumption trends point upward. Digital transformation, supply chain optimisation, and immersive shopping experiences are expected to be the defining factors for sustained growth.
By blending large-scale brick-and-mortar presence with digital channels, Reliance aims to cement its leadership in a sector that is becoming an increasingly important pillar of India’s economic trajectory. The company’s strategy reflects its confidence that technological adoption, coupled with a rapidly expanding middle class, will continue to reshape consumer markets in the years ahead.
