New Delhi, April 16 -- India's retail landscape is undergoing a significant transformation with a strong emphasis on premiumisation. According to a report released by real estate consulting firm Cushman & Wakefield on Tuesday, over 70% of the anticipated 12.3 million square feet (sq. ft) of new Grade A mall supply expected in India within the next two years will fall under the superior grade category.

Of the 12.3 million sq. ft of new Grade A mall supply projected for 2025 and 2026, a substantial 8.6 million sq. ft will be classified as superior grade, per the report titled "Premiumisation of India's Retail Sector-Upscaling, Upgrading and Evolving," unveiled at the MAPIC India Shopping Centre event Tuesday.

Consumer aspirations, increas...