India’s consumer economy to touch $1.9 trillion by 2030 as AI, digital trust reshape FMCG and retail: Deloitte-FICCI report

India's consumer economy is on track to approach $1.9 trillion by 2030, with artificial intelligence (AI), digital trust and governance emerging as the biggest drivers of growth across the country's FMCG, retail and e-commerce sectors, according to a joint report released by Deloitte India and the Federation of Indian Chambers of Commerce and Industry (FICCI).

The report, Consumer Trends IGNITEing Growth and Governance, highlights that consumer behaviour is being transformed by rapid digital adoption, AI-assisted product discovery and rising demand for convenience, transparency and personalised experiences. It argues that future competitiveness will depend as much on governance, regulatory predictability and ease of doing business as on technology-led innovation.

Jyoti Vij, Director General, FICCI, said evolving policy frameworks will play a crucial role in balancing innovation with consumer protection and sustainable growth. She stressed that continued collaboration between industry and government will be vital to ensure regulations keep pace with rapidly changing market dynamics while unlocking the full potential of India's consumer economy.

AI, connected commerce to power next growth phase

According to the report, India ranks first among the world's top 15 countries in AI adoption, with businesses increasingly deploying AI across consumer engagement, product innovation, demand forecasting and supply-chain management. AI is also accelerating the convergence of retail, e-commerce and quick commerce, creating new avenues for customer acquisition and brand engagement.

The study estimates India's e-commerce market will nearly reach $260 billion by 2030, while the quick commerce segment is expected to expand to $50 billion, reflecting consumers' growing preference for faster, seamless and personalised shopping experiences.

Consumers prioritise transparency, sustainability

The report points to a decisive shift in purchasing behaviour, with 74% of consumers reviewing ingredient or nutritional information before making purchases, 63% selecting products based on formulations and ingredients, and 52% switching brands for better health and transparency credentials. Meanwhile, 67% of consumers now consider sustainability while making buying decisions, pushing companies to integrate environmental and governance priorities into their core business strategies.

Businesses are also redesigning supply chains with AI-enabled forecasting, intelligent planning and diversified sourcing to improve resilience amid geopolitical uncertainties and climate-related disruptions, the report noted.

Commenting on the findings, Anand Ramanathan, Partner & Consumer Industry Leader, Deloitte India, said India's consumer economy presents substantial opportunities for companies that can effectively leverage AI, build resilient operations, participate in connected commerce ecosystems and convert consumer insights into differentiated experiences. He added that regulatory predictability, digital trust and ease of doing business will remain essential to sustaining innovation and investment.