India clinches the top position in global retail index for ease of doing business; dethrones China

India has clinched the top position among 30 developing countries in ease of doing business, according to a study by the Global Retail Development Index for 2017.

India has outpaced China in the parameter of ‘ease of doing business’ and this is nothing less than a sweet cherry on the cake.

In its 16th edition, the Development Index (GRDI) ranks top 30 countries according to its compatibility with the retail business.

India’s stock markets are scaling new heights. Not long ago, Sensex and Nifty broke all previous records and surged speedily to make new highs. This surge is fuelled by a multiplicity of factors like increasing foreign direct inflows clubbed with super bullish sentiments of global market players on the Indian market along with rocketing consumption numbers.

What makes India an attractive opportunity?

The consumption levels are surging across the middle class and higher middle-class sections of society.

India looked enticing to investors in 2016, when the government allowed up to 100% foreign ownership in B2B e-commerce businesses, and for FMCG retailers (food products).

Additionally, GST rollout clubbed with the decisive steps in ‘Cashless India’ has only led to the betterment of the India’s economy.

However, India has secured a lower rank at 130 th position in the overall parameter of Global Doing Business index 2017 against the 131st position in 2016.

Stats and Figures of Indian Economy

India’s retail sector, which has also benefited from e-commerce, is now projected to grow at 30% annually and reach $48 billion by 2020.

India’s retail sector has been growing at a rate of 20% annually. Total sales surpassed the $1 trillion mark last year, and the sector is expected to double in size by 2020.

What makes China an attractive global market?

The vast market clubbed with attractive business opportunities galore, China has managed to stay atop in the market.