In February 2024, Indian retail sales grew 5% YoY

Retailer sales growth in February 2024 showed a modest 5% increase compared to the same period in 2023, as per the Retail Business Survey by the Retailers Association of India (RAI). Sports goods (9%), footwear (8%), and quick service restaurants (7%) led the growth. Eastern India's growth weakened in the last couple of months, while CDIT products faced headwinds in the last quarter. The middle-class consumer is recalibrating spending across categories, travel, and capital expenditure.

March 18, 2024
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