India’s FMCG and retail landscape is entering a more mature, strategically driven phase. Growth is no longer just about expanding distribution but about building smarter scale through consolidation, sharper regional playbooks, and stronger integration with global supply chains. As Asia-Pacific races towards becoming a $36 trillion consumer market by 2035, India is emerging as one of its most powerful engines, supported by rising private consumption and sustained demand across categories.
Large players are also reshaping how FMCG portfolios are built. Reliance’s approach of reviving legacy Indian brands while simultaneously incubating new mass-market labels and acquiring regional players signals a shift towards long-term brand architecture rather than short-term category wins. At the same time, policy conversations around liberalising retail FDI are gaining momentum, with the argument that capital, jobs and organised retail growth are being held back by outdated constraints.
Globally, India stands out as a retail bright spot. While malls struggle in Western markets, Indian retail is attracting investor confidence and fresh formats. Even quick commerce players are experimenting with physical experiential stores, hinting at a future where digital and physical retail coexist more closely than ever.
Click on the headings below for insights on how these trends are shaping India’s retail landscape…
1. What’s driving the next phase of India’s FMCG growth
India’s FMCG growth is now driven by companies building smarter scale, strategic consolidation, and deeper regional and global integration to strengthen supply chains and market reach. These shifts are redefining competitive advantage beyond traditional local playbooks.
2. India posts 13.7% FMCG growth amid Asia-Pacific’s rise to $36 trillion market
India’s consumer momentum is gaining pace as Asia-Pacific is set to overtake North America as the largest consumer market by 2035, according to a joint report by Bain & Company and NielsenIQ (NIQ). Private consumption in the region is expected to grow at 7% CAGR, reaching $36 trillion by the end of the next decade, as global private consumption rises from roughly $65 trillion in 2025 to $110–$120 trillion by 2035.
3. Reliance builds FMCG portfolio by reviving forgotten brands, building new ones
Reliance Industries’ splash into FMCG is testing a unique method that no one has tried yet. Through Reliance Consumer Products Ltd (RCPL), the group is building a diversified FMCG portfolio by combining three elements rarely pursued together at scale: the acquisition of small regional players, the revival of forgotten Indian brands and the creation of new mass-market labels.
4. Why it’s time to liberalize India’s retail sector
India is being urged to liberalise retail FDI rules, with experts arguing that current restrictions distort investment and favour online platforms over physical retail. Opening up the sector could unlock capital for supply chains, logistics, jobs, and organised retail growth, reflecting how the market has already evolved on the ground.
India is emerging as a rare bright spot in retail at a time when shopping malls across Western economies are facing sustained closures, according to real estate consultancy firm Anarock. Since 2020, the US has recorded a net shutdown of nearly 1,200 mall stores, with rising vacancy levels pushing almost 40 per cent of empty malls toward rezoning or alternative use. India, however, is seeing renewed momentum in its retail segment, backed by strong consumption trends and growing interest from institutional investors, real estate consultancy firm Anarock said.
6. Instamart pilots physical experiential store in Gurugram
Swiggy's quick commerce arm Instamart has piloted a physical experiential store in Gurugram, as the company tests a limited offline format alongside its dark store led delivery operations, according to media reports and people aware of the development. The outlet, located at M3M 65th Avenue, operates as an Instamart branded experiential store and is separate from the company’s dark store network.