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India ranks second on GRD index on ease of doing business

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India has moved 13 positions to rank 2nd among 30 developing countries in 2016 on ease of doing business and China is topped in the list.

Delegate: Debashish Mukherjee, a partner with A T Kearney and co-head of the GRD Index - IndiaConsumer Industries & Retail Products Practice for India and South east Asia.

2016 Global Retail Development Index (GRDI):

Listed top 30 developing countries for retail investment worldwide

Key Features of India:

  • Achieved second ranking by GDP Growth and FDI regulations
  • Has relaxed several key Foreign Direct Investment (FDI) regulations in single-brand retail and paved the way for multinational firms to join the market
  • India’s retail sector has improved at annual growth rate of 8.8 per cent between 2013 and 2015 and annual sales of USD 1 trillion
  • India has become the world’s fastest growing economy
  • Large population and the easing of FDI regulations
  • India is the world’s second largest internet market and the increasing internet and smartphone penetration is contributing to the expansion of e-commerce.
  • Indian consumers become more comfortable with shopping online, venture capital and private equity firms have boosted investment in the sector

Points Delivered by Mukherjee:

  • India’s growth will be improved by e-commerce
  • Remains a challenging and complex market for Foreign retailers
  • Infrastructure blocks including labour laws, complex regulations, high labour attrition rates and limited high-quality retail space remain areas for retailers

The GRDI surveyed 25 macroeconomic and retail-specific indices to help retailers devise successful global strategies to identify emerging market investment opportunities.

The study is dealt about the present and future potential of the market