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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Categories: Business & Economy Current Affairs 2017India Current Affairs 2017

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