India has overtaken China to secure the top position among 30 developing countries on ease of doing business, according to AT Kearney‘s the 2017 Global Retail Development Index, now in its 16th edition.
This index ranks the top 30 developing countries for retail investment worldwide and analyses 25 macroeconomic and retail-specific variables. India’s rapidly expanding economy, its relaxing of foreign direct investment rules and a consumption boom are the key drivers for India’s top ranking in the Global Retail Development Index reports the Economic Times. India’s retail sector has been growing at an annual rate of 20 percent. Total sales surpassed the $1 trillion mark last year and the sector is expected to double in size by 2020.
“The study is unique in that it not only identifies the markets that are most attractive today, but also those that offer future potential,” said management consulting firm AT Kearney. “India’s top ranking is a clear vote of confidence in its retail market and vast growth potential,” said Debashish Mukherjee, Partner with A T Kearney and Head of the Consumer Industries & Retail Products Practice for India.
