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The growth of organized retail in India is due to a shift in consumer preferences, driven by factors like rising incomes, lifestyle changes, and demographic trends. Indian consumers now prefer a 'one-stop shop' for food, entertainment, and shopping, which has led to the growth of organized retail.
After two years of restrictions and lockdowns, the retail industry saw a surge in revenue in FY22, surpassing the pre-pandemic level. This was driven by pent-up demand, increased mobility, and a strong festive season. Overall, the industry has seen a strong recovery
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Source: Investor Relations
