| India
has emerged as the most attractive retail investment
destination on Global Retail Development Index (GRDI)
2007 for the third consecutive year, reports indiaretailbiz.com.
This is due to its robust 25 to 30% growth in modern
retail formats last year, as opposed to 13% for both
China and Russia.
India scored of 92 out of 100 points.
Russia and China closely followed with 89 and 86 points
resp. Vietnam and Ukraine, which were ahead of China
in 2006, were ranked 4th and 5th with respective scores
of 74 and 69 points, this year. China dashed past Vietnam
and Ukraine mostly on account of continued growth in
consumer spending (13%) as well as movement of modern
retailers into smaller cities. Chile, Latvia, Malaysia,
Mexico and Saudi Arabia were ranked 6th to 10th on the
list.
GRDI is an annual ranking of 30 most
attractive emerging retail investment destinations determined
by A.T. Kearney –a well-known management consultancy
firm of international repute. The study focuses on opportunities
for mass merchants and food retailers, which are harbingers
of bringing modern retailing concepts in a country.
"India being at the top of the GRDI
validates the level of activity and enthusiasm we have
seen in the marketplace. We anticipate seeing another
year of major investments and new retail concepts changing
the rapidly evolving organised retail landscape in India,
not just in the metros but also deeper penetration in
the Tier-II and Tier-III cities," said Hemant Kalbag,
principal, (consumer industries and retail practice),
AT Kearney India.
While, it is possible for new retailers
to bypass highly saturated tier-I cities, they should
to weigh the benefits with the risks involved of entering
into a second-tier city. Inadequate infrastructure,
lack of exposure to modern retailing concepts and lack
of talent are among major obstacles that affect a retailer
while entering into a tier-II city, say the report.
Full Details at : http://www.indiaretailbiz.com
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