Miniso India plans big expansion this year

Discount chain Miniso India plans to open 200 stores by year’s end.

India has become a fertile market for many international retail brands, including Gap, H&M and Zara. So far, Miniso has opened 20 stores in India.

A World Bank report says India’s economy has grown by 6.7 per cent from last year, and is expected to grow to 7.3 per cent this year, overtaking China as the world’s fastest-growing economy again.

India’s GDP of about US$2.6 trillion made it the world’s sixth-largest economy last year.

Rapid development of the economy also laid a good foundation for the prosperity of India’s retail industry.

India’s robust economic growth and rising household incomes are expected to increase consumer spending to $4 trillion by 2025.