A T Kearney a London-based business consultancy in its 16th edition placed India at top among 30 developing countries in terms of ease of doing business in retail sector. The 2017 GRDI (Global Retail Development Index) was titled as ‘The Age of Focus’.
China has been placed at second place.
What made India Topper?
India is one of the rapidly growing economy of the world. More flexibility in the FDI rules is one of the key point behind India’s top position. With such kind of rapid growth in retail sector, the sector is expected to growq double by 2020. Currently it has been growing at a pace of 20% growth per year.
E-commerce is major player behind India’s Top position:
The E-commerce sector is growing rapidly which has made retail business more convenient. Moreover, government’s decision to permit full ownership (100%) for retailers and B2B businesses helped India to be on the top of GRDI.