₹1.6 trillion in FY20 to ₹3.2 trillion by FY25. With that, the organized market share is likely to increase from 38% in FY20 to 50% by FY25.
Analysts said the introduction of goods and services tax in 2017 has triggered consolidation across sectors, leading to more pricing power, lower wages and greater bargaining power with suppliers.
So, while in the paints segment, Asian Paints said it gained market share at the cost of both organized and unorganized sectors; in the consumer electronics segment, Havells said it gained market share from the unorganized sector.
Both companies, however, declined to divulge the market share gain. In the cement industry, the top five firms had a 48% share of volumes in FY17.