India jumped 13 positions and was placed second in retail potential in the 2016 Global Retail Development Index (GRDI). The country was ranked 15 in the previous year. The report profiled 30 developing countries.
India’s high ranking is driven by GDP (gross domestic product) growth, improved ease of doing business, and better clarity regarding FDI (foreign direct investment) regulations. India is now the world’s fastest-growing major economy, overtaking China, and retail demand is being fueled by urbanisation, an expanding middle class, and more women entering the workforce.
Contributed By Sonia Narula