Download NeoGrowth App
India’s retail sector is benefiting from a vast consumer base and diverse retail formats. Recent reports indicate steady expansion in the sector, fueled by a rising middle class and increasing disposable incomes. Digital lending has emerged as a revolutionary approach to empower retailers with streamlined processes, quick access to capital, and the flexibility to adapt to market demands. With easy accessibility to credit, retailers can seize new opportunities and invest in modern technologies for increased efficiency, creating a brighter future for their businesses and the overall economy.
Despite the recent economic challenges, India’s retail landscape has exhibited remarkable resilience and is poised for substantial growth in the years ahead. Recent projections have indicated that the retail sector is on track to achieve a remarkable milestone, potentially reaching a value of USD 2 trillion by 2032[1]. MSME owners within the Retail & Trading segment are particularly optimistic about the outlook for 2023, foreseeing a robust surge in consumer demand.Anticipating a significant uptick in consumer demand, retail owners are proactively gearing up to leverage technology and digital advancements in their operations. The year 2023 is expected to witness a significant shift toward technology adoption among Indian retailers, with a majority of business owners indicating their intention to escalate technology and digital investment. Credit support, thus, is crucial to facilitate this accelerated growth and enable retailers to thrive in the dynamic economic landscape.
