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.
India Tops Global Retail Development Index
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