Retail business grows 10% in February this year: RAI

Retail business in India grew 10% in February this year compared with the sales level in the same month last year, signalling that the sector is inching towards normalcy, the Retailers Association of India (RAI) said on Monday.

According to the latest business survey by the industry body, the rise witnessed last month marks a growth of 6% compared with February 2020.

Retail businesses across regions had indicated growth in February 2022, with sales in West India growing 16% against the same month last year, RAI said in a statement.

East India saw a growth of 4% against the year-earlier month, while North India grew 17% as compared with February last year.

Similarly, South India also witnessed a growth of 4% against February last year, it added.

Commenting on the findings, RAI CEO Kumar Rajagopalan said, “While the data shows that retail businesses are inching towards normalcy, we need to consider that the growth shown is not adjusted to inflation and the possibility is that some categories are yet to get back quantitative growth”.

RAI said most categories were now indicating growth in business generated in February 2022 as compared with the previous two years.