Page 44 - Jan-Feb 2025

A
CAUTIOUS
START TO 2025
AMID GLOBAL TENSIONS AND
ECONOMIC ADJUSTMENTS
he year 2025 begins with a sense of
guarded optimism, driven by the interplay
Tof external economic environments
and ongoing geopolitical tensions across the
globe. India’s growth trajectory reflects both its
resilience and its challenges.
In the July–September quarter of 2024, GDP
growth decelerated to 5.4%, the slowest pace in
two years. This slowdown has been attributed
to weakening private consumption and rising
inflationary pressures. In response, the Reserve
Bank of India (RBI) revised its growth forecast for
the fiscal year 2024–25, lowering it from 7.2% to
6.6%. Despite these hurdles, India remains one of
the fastest-growing economies globally.
40 ̶ THE INDIAN OPTICIAN | JAN-FEB 2025 | REPORT
GROWTH AMID CHALLENGES: THE
BROADER ECONOMIC LANDSCAPE
India’s luxury market continues to expand,
with an anticipated annual growth rate of 6.5–7%
by 2025. This surge is fuelled by an increasingly
affluent population and a growing appetite
for high-end fashion and enhanced shopping
experiences. However, the retail sector faces
headwinds such as persistent food inflation,
which has curtailed consumer spending,
particularly among middle-class households.
Nonetheless, the organised retail sector stands
on the cusp of robust growth, driven by evolving
consumer preferences, technological innovation,