India’s luxury goods market is projected to see 10 per cent growth to reach $12.1 billion by 2025, emerging as a significant player in the global luxury market, a new report has said.

The luxury retail landscape is being reimagined, with brands moving beyond transactional spaces to offer curated lifestyle experiences, according to data analytics company Euromonitor International.

South Africa (15 per cent), India (10 per cent), and the United Arab Emirates (9 per cent) are among the leading countries in luxury goods market growth. India is expected to achieve a Compound Annual Growth Rate (CAGR) of 74 per cent over the forecast period, highlighting its growing importance in the luxury ecosystem. A key factor contributing to India’s growth is the increasing number of wealthy individuals,

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