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 Consumer 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