Retailers in India are increasingly targeting the areas, where people have more discretionary income and are more aware of the latest fast-moving consumer goods (FMCG). As much as 10% of India’s annual GDP is generated by the country’s top retail enterprises.
Nearly 60% of India’s retail sales come from rural FMCG customers, and the country’s top ten retail corporations are boosting their investments to expand their distribution networks in these regions.
With a CAGR of over 6%, it is expected that the demand for Indian retail firms and the whole list of Indian retail companies would grow to more than $850 billion in 2023 from its present $580 billion at the start of 2018. Around 8% of India’s workforce is employed by the country’s largest retail enterprises.
Biggest Retail companies in India 2023
The greatest Indian retail enterprises are expected to develop rapidly in the next years as a result of the effects of globalization and the rising rate of urbanization. There have already been several departmental stores opened in India by some of the world’s leading retail firms.
e-commerce and online shopping are predicted to become one of the fastest expanding categories of the Indian retail market, providing new growth opportunities for the country’s top ten retail enterprises.
1. Reliance
India’s leading retail company, Reliance Retail, is one of the country’s best-known retailers. Mukesh Ambani founded this retail company in Mumbai, India, in 2005, and it now has and over 45 subsidiaries that are among India’s leading retail enterprises. It is one of the top Biggest Retail companies in India in 2023.
Reliance Fresh, Jio, Reliance Trends, and AJIO are some of the major brands of Reliance Retail. An estimated 14 million sq ft of floor area was used by these world-renowned retailers’ 3,750 Indian department shops by the end of 2017. Over 88,000 people work at Reliance Retail, which has a yearly revenue of greater than $7 billion and operates across 750 cities.
2. The Aditya Birla Group of Retail Stores
In terms of retail firms in India, Aditya Birla is one of the most reputable. Kumar Mangalam Birla founded this retail enterprise in Mumbai, India, in 2007. The Aditya Birla Group, which owns this retail giant, has a $50 billion revenue., thus making it among the Biggest Retail companies in India in 2023.
A few of Aditya Birla Retail’s forthcoming retail brands are Pantaloons, Idea Cellular, and Planet Fashion. Over 15,000 people are employed by these top 10 Indian retail enterprises, which generate over $2 billion in yearly sales and operate more than 600 department stores across the country.
3. Titan Corporation
In Bangalore, India, the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO) formed a joint venture in 1984 to form Titan Company, one of India’s leading retail firms. Among the most popular retail brands held by this leading retail company in India are Tanishq and Sonata.
The greatest retail firm in India has global revenues of about $2 billion and a net profit of $120 million, according to comprehensive Indian retail data. Another interesting fact about the top 10 retail corporations in India is that they have and over 1000 retail stores across India and employ over 7,500 people.
4. Future Group
According to the most accurate Indian retail industry study conducted by a prominent market research firm Technavio, Future Group is yet another top retail business in India. In 1987, Kishore Biyani founded the Future Group as Manz Wear in Mumbai, India.
On the greatest retail firms in India, it has several upcoming retail brands such as Future Retail, E-Zone Big Bazaar Food Bazaar, Brand Factory. Being the Top retail enterprise in India, it makes over $3.5 billion a year and employs over 35,000 people all throughout the nation.
5. Trent
In India, Trent is one of the top 5 retail enterprises, and it is owned by the Tata Group. Over a hundred huge Indian department shops have been opened by Trent since its inception in 1998 in Mumbai, India.
Trent owns some of India’s greatest retail brands, including Westside, and Landmark, as well as joint ventures with Tesco, Zara, and Lakeland, the world’s leading retail corporations. There are more than 25,000 individuals working for this greatest retail firm in India, which has an estimated yearly revenue of roughly $2.5 billion.
Final Thoughts
A thorough examination of the Indian retail business has revealed that the country is already one of the world’s top ten consumers and is on track to overtake the United States as the world’s third-biggest consumer economy within the next decade. With the finest retail firms in India merging to develop the best new brands in India, several of the world’s most renowned retail organizations are entering into M&A.
