The current retail sales in India is worth $925 billion and had grown at 5.8 per cent on compounded annual growth rate in 2010-2014, A T Kearney said in a report on the 2015 Global Retail Development Index.
"Consumer and investor sentiment have seen an uptick, as the pro-reform government under
"India's retail market is expected to grow to $1.3 trillion by 2020, and GDP is expected to grow at 8 per cent over the next three years, making India the world's fastest-growing major developing market," the report said.
India has risen five positions to rank 15th in the latest edition of the index, the London-based consultancy firm said.
"India represents a good opportunity for international retailers in single-brand retail, cash-and carry, and e-commerce, as the country appears to be on the cusp of a strong growth phase over the next five years," it said.
The tipping point for brick-and-mortar retail continues to be the opening up of Foreign Direct Investment (
After two years of dormancy,
(Image Courtesy: realcommercial.com.au)