India Secure 2nd Position on GRD Index on Ease of Doing Business [ Current Affairs ]
India has secured second position in the 2016 Global Retail Development Index (GRDI) which was released by London-based business consultancy A T Kearney. India has flown 13 positions from last year (2015) to rank second among 30 evolving countries on ease of doing business.
Key Highlights of 2016 GRDI
- The shrill pick up in GDP growth and better clarity regarding FDI regulations have helped India achieve a second ranking.
- India’s skill sector has extended at a multiple annual growth rate of 8.8 % between 2013 and 2015; with yearly sales journey the US 1 stacks dollars mark.
- Due to large population and easing of FDI regulations in retail sector, India become the world’s fastest growing economy and more attractive market.
- From the rapid growth retail sector of India also has benefited in e-commerce.
- India is a second largest internet market and cumulative of smartphone and internet penetration which has contributed to the expansion of e-commerce.
About Global Retail Development Index (GRDI)
- London-based business consultancy A T Kearney yearly announces the GRDI.
- It examines 25 retail-specific and macroeconomic variables to help retailers formulate successful global strategies to recognize emerging market investment opportunities.
- The study is unique as it recognizes the markets that are most striking in present and also their future prospective.
- Published on: June 8, 2016