India overtakes China to top global retail index says GRDI report

India has overtaken China and has ranked as the top country in the 2017 Global Retail Development Index (GRDI) released by A.T. Kearney.

Highlights of 2017 Global Retail Development Index (GRDI):

2017 GRDI titled ‘The Age of Focus’ has outlined that India’s rapidly growing economy, relaxation ofForeign Direct Investment (FDI) rules and a consumption boom triggered by growing middle class population are the key factors on basis of which India topped the index this year.

• China, which held the No. 1 position in the index since long time, has dropped to second place. However, owing to its huge market size and evolution of retail, particularly e-commerce, China still remains one of the most attractive retail investment destinations.
• 2017 GRDI has outlined that a state of uncertainty prevails among global retailers owing to increase in protectionist trend and inward looking policies adopted by some developed countries. This trend was reflected from the ‘BREXIT vote’ and ‘America First’ policy.
• This year’s edition of GRDI includes a special section about the surge in mobile shopping and its impact on global retail expansion. In many developing markets, mobile retail is the primary form of online shopping.

2017 Global Retail Development Index (GRDI) – Top 10:

Retail Sector in India:

• India’sretail sector has been growing at an annual rate of 20%.
• Last year, total retail sales surpassed the $ 1 trillion-mark.
• Indian retailers have benefited immensely from the growth in e-commerce.
• Indian retail sector is expected to double in size by year 2020.

About Global Retail Development Index (GRDI):

Global Retail Development Index (GRDI) is published by A.T. Kearney, a Chicago-based global consulting firm.

• The annual A.T. Kearney Global Retail Development Index ranks top 30 developing countries for retail investment worldwide and analyses 25 macroeconomic and retail-specific variables to help retailers devise successful global strategies to identify emerging market investment opportunities.
• 2017 GRDI marks the 16th annual edition of the report.