India has been ranked second position as per 2016 Global Retail Development Index (GRDI) released by London-based business consultancy A T Kearney.
India has jumped 13 positions from last year (2015) to rank second among 30 developing countries on ease of doing business.
Key Highlights of 2016 GRDI
The sharp pick up in GDP growth and better clarity regarding FDI regulations have helped India achieve a second ranking.
India’s retail sector has expanded at a compound annual growth rate of 8.8% between 2013 and 2015, with annual sales crossing the US 1 trillion dollars mark.
India has also become the world’s fastest growing economy and more attractive market due to its large population base and easing of FDI regulations in retail sector.
India’s retail sector has also benefited from the rapid growth in e-commerce.
Being world’s second largest internet market and increasing smartphone and internet penetration has contributed to the expansion of e-commerce.
About Global Retail Development Index (GRDI)
The GRDI is annually published by London-based business consultancy A T Kearney.
It analyses 25 retail-specific and macroeconomic variables to help retailers devise successful global strategies to identify emerging market investment opportunities.
The study is unique as it identifies the markets that are most attractive in present and also their future potential.
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