It is increasingly becoming apparent that Indian consumers are wanting international shopping experience and service. And the retail market in India is growing at a hectic pace. International retailers are waiting in a queue to take a share of this pie. AT Kearney has released a Global Retail Development Index(GRDI) report and India tops that list. Here are some highlights of the report :
India tops a list of 30 new markets attracting global retailers, according to a study by the consulting firm A.T. Kearney.India has steadily risen on the GRDI, with its underserved $330 billion retail market growing by 10 percent on average per year over the past five years. "This market is among the most fragmented in the world; the combined market share of the top five retailers totals less than two percent," the report notes.India’s retailing landscape has more than 12 million mom-and-pop stores that are not likely to idly watch their businesses erode as foreign companies encroach on their territory. But gaining early-mover advantage could make tackling all of these issues worthwhile.