The A.T. Kearney's 2016 Global Retail Development Index (GRDI) study says India has raised 13 positions from last year to rank second among 30 developing countries on ease of doing business.
The Index that ranks the top 20 developing countries for retail investment worldwide, has ranked India ranks2nd in ease of doing business, this increases potential for growth to the retailers and in doing business.
A pickup in GDP and clarity regarding the Foreign Direct Investment (FDI) regulations have helped India achieve second place ranking, after China that tops the list. India has made fastest growth in economy and in retail investments.
The tremendous confidence on retail market and growth in GDP, has directed the multinational companies and organisation to enter the market. India’s retail sector has also benefited from the rapid growth in e-commerce, as it is the world’s second largest Internet market and increasing net and smart phone penetration is contributing to the expansion of e-commerce.
Although infrastructure bottlenecks, Organization set up, labour laws, complex regulations; changing strategies in business continue to remain as apprehensions of the retailers.
The Index analyzes 25 macroeconomic and retail-specific variables to assist retailers devise successful global strategies and to identify developing market investment opportunities. This study is unique as it identifies the most attractive markets, and also those that offer the most potential for the future.