New Delhi [India], India's retail leasing market is expected to reach 6.5 million sq ft in 2024, driven mainly by primary leasing activities, while foreign luxury retailers are also entering India, according to a recent report. According to this, the stable supply environment has been highlighted. Retail Sector, 2024 Indie Market Outlook by CBRE South Asia Pvt. Ltd. Ltd., emphasizes the completion of several high-quality mall developments, by the end of the year, an estimated 5-6 million square feet of investment-grade mall space is expected to be operational across Tier-I cities of India, especially , Home decor This segment is expected to see growth in both online and offline formats. Additionally, fashion and apparel players are set to expand their presence in Tier-I cities with malls and high streets. The report also notes the expected expansion of domestic jewelery brands and growing consumer interest in the entertainment category, which could potentially lead to increased leasing activity.“India's retail sector sees significant growth in 2023. Both retailers and consumers are cautiously optimistic as we look to 2024. While tier-I cities remain key expansion hubs, promising tier-II markets are attracting new players. Are doing,” said Chairman and CEO, Anshuman Magazine. - India, CBRE In 2023, retail demand witnessed significant growth in investment-grade malls, prime high streets and standalone developments, with leasing activity taking place in Tier-I cities such as Bangalore, Delhi-NCR and Mumbai "Foreign Luxury Retail Vendors are entering India by partnering with local players. The upcoming launches of some brands underline this trend.This reflects a new optimism in India's retail sector, with leading developers investing in tier-I cities, while institutional investors are targeting tier-I cities." MD, Advisory and Transaction Services, CBRE India reports According to , the adoption of generative AI to enhance custom experiences, hyper-personalization of products and services, and strategic supply chain management are expected to shape the retail sector in India. The report further highlights that the residential sector is currently the largest in India. is undergoing a bullish phase, characterized by a convergence of factors fostering a highly favorable ecosystem and both sales and new asset launches will sustain the sector's buoyancy in 2024.