India ranked 2nd on GRD index on ease of doing business
India has been ranked second position as per 2016 Global Retail Development Index (GRDI) released by London-based business consultancy A T Kearney.
India has jumped 13 positions from last year (2015) to rank second among 30 developing countries on ease of doing business.
Key Highlights of 2016 GRDI
- The sharp pick up in GDP growth and better clarity regarding FDI regulations have helped India achieve a second ranking.
- India’s retail sector has expanded at a compound annual growth rate of 8.8% between 2013 and 2015, with annual sales crossing the US 1 trillion dollars mark.
- India has also become the world’s fastest growing economy and more attractive market due to its large population base and easing of FDI regulations in retail sector.
- India’s retail sector has also benefited from the rapid growth in e-commerce. Being world’s second largest internet market and increasing smartphone and internet penetration has contributed to the expansion of e-commerce.
About Global Retail Development Index (GRDI)
- The GRDI is annually published by London-based business consultancy A T Kearney.
- It analyses 25 retail-specific and macroeconomic variables to help retailers devise successful global strategies to identify emerging market investment opportunities.
- The study is unique as it identifies the markets that are most attractive in present and also their future potential.
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Month: Current Affairs - June, 2016