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India Beats China in Retail Business in 2017
September 25, 2017
As per the global retail development index, dethroning China, India has now become the top global destination for retail business in 2017.
India’s ranking increased on the basis of four factors – mobile and internet penetration, increased consumer spending, push to cashless transactions, and the introduction of the GST regime. AT Kearney partner Subhendu Roy said that these factors have helped India attract the global brands through the ease of doing business and improved transparency.
A number of global brands are expected to expand their operations in India this year. Retail brands like Melting Pot, Pasta Mania, Korres, etc. are expected to invest as much as $500 million combined to open 2,500 to 3,000 new stores in the country.
