According to 2016 Global Retail Development Index (GRDI), which ranks top 30 developing countries for retail investment worldwide, India’s ease of doing business has improved by 13 positions and is now ranked in second place after China.  A boost in GDP growth and better clarity regarding FDI regulations has been instrumental in enabling India to improve this ranking.

India has also become the world's fastest growing economy. India's retail sector has expanded at a compound annual growth rate of 8.8 percent between 2013 and 2015, with annual sales crossing the USD 1 trillion mark, according to A T Kearney, a London-based business consultancy.

That coupled with a large population base and the easing of FDI regulations in the sector has made it an even more attractive market, it said in the ranking.

This development augurs well for India’s economy and business community as a whole.

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