>>
Home / Knowledge / News / Apparel/Garments / India tops AT Kearney's Global Retail Development Index
India tops AT Kearney's Global Retail Development Index
27
Dec '17
Overtaking China, India is now the most dynamic market with a rapidly expanding economy and a consumption boom, says a recent report. The conditions for retailers in India are favourable and will continue to provide strong fundamentals. The GDP is forecast to grow 7.6 per cent in 2018, helping the organised retail to double in size by 2020.

In terms of both size and momentum, Asia is the driving force behind global retail and the expansion of apparel, fashion, and luxury, branded food and beverage, personal care products.

Relaxed rules for foreign direct investment (FDI) in key sectors have improved the ease of doing business in India, says 2017 Global Retail Development Index report by AT Kearney.

Government efforts to boost cashless payments (witnessed in the recent nationwide demonetisation exercise) and reform indirect taxation with a nationwide goods and services tax (GST) are also expected to accelerate adoption of modern retail.

The report states that in 2016, consumers showed increased interest in brands, prominent international retailers entered the market, including Armani Exchange, Cole Haan, Heatwave, Muji, Massimo Dutti, Kate Spade, and Neil Barrett.

"H&M opened 15 stores within two years of entering the market, Xiaomi intends to roll out single-brand retail stores across the country, and German sports goods makers Puma and Adidas are looking for government approval to operate fully owned retail stores and online portals. IKEA, the world’s largest furniture retailer, plans to invest $1.56 billion to set up 25 stores nationwide. Amazon and Walmart have aggressive rollout plans, with Walmart aiming to open 50 cash-and-carry stores in the next four to five years. The luxury sector also continues to see activity with Saks Fifth Avenue reportedly in talks with local partners to open two stores," the report says.

Online retail is projected to grow 30 per cent annually and reach $48 billion by 2020, driven by high promotional activity and payment solutions such as cash on delivery. Lifestyle products such as apparel and shoes are among the most popular online categories. Lifestyle retailers such as Shoppers Stop are investing in omni-channel offerings to meet the demand for online. However, maintaining a profitable online operation is a challenge, and has led to some consolidation. Two of the nation’s largest online retailers, Flipkart and Snapdeal, are considering a merger as investors look to lock in returns, cut losses, and focus on sustainable growth, the report pointed out.

Malaysia, Turkey and UAE take the third, fourth and fifth position in the 2017 Global Retail Development Index, respectively. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Anton_Ivanov / Shutterstock.com

Retail | On 27th Jan 2022

UK retail sales volumes fall at fastest rate in 11 months in Dec 2021

UK retail sales volumes fell by 3.7 per cent in December 2021, the...

Pic: Shutterstock

Textiles | On 27th Jan 2022

New train route links China’s Suzhou city to Milan in Italy

A new China-Europe freight train route has been started between...

Pic: Shutterstock

Apparel/Garments | On 27th Jan 2022

UN-WTO report underrates Bangladesh's RMG industry progress: BGMEA

The recent United Nations-World Trade Organisation joint report has...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Occam's razor principle and purpose-driven innovations

Textile Industry, Head honchos

Textile Industry
Head honchos

Instagram & fashion will go a long way together

Textile Industry, Head honchos

Textile Industry
Head honchos

Quality & affordability to affect market acceptability of new fibres

Vikash & Vishal Pacheriwal,

Vikash & Vishal Pacheriwal

Launched in 2018, Raisin is a contemporary fusion fashion brand that aims...

Susanna Koelblin,

Susanna Koelblin

Founded in 1920, Eastman is a global specialty materials company that...

Raiyan Islam,

Raiyan Islam

Founded in 1981 by Sayeeful Islam, Concorde Garments Group is a market...

 Natacha Defeche, Edana

Natacha Defeche
Edana

Since 1971, EDANA, the International association serving the nonwovens and ...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Kamal Khushlani, Mufti

Kamal Khushlani
Mufti

Based out of Mumbai, Mufti is a men’s clothing fashion brand. In an...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments

ESTEEMED CLIENTS

Gloria Jeans
Grasim Industries Limited
Lifestyle
Green Fibre
Alison Hayes Romania
C;&A Sourcing International Ltd
TESCO INTERNATIONAL SOURCING LIMITED
Vardhman Textile Ltd
Abit
MAS Active / MAS Kreeda / MAS Bodyline
Asos
Phong Phu international JSC (PPJ)
Etam Group Strategy Hong Kong Limited
PVH Corporation
Guess Europe Sagl,
T.T. Limited
LC Waikiki
Page Industries Limited (Bangalore)
Aquarelle Clothing Limited
Alix Partners
Permoda(Koaj/Armi/Pronto/Bkul)
Huntsman (Singapore) Pte Ltd
Lisa S.P.A.
Recron Polyester from Reliance Industries Limited
IKEA of Sweden AB
John Varvatos
Vianney Textil Hogar S.A. De C.V.
KIABI
Target Corporation (MN)
OVS Hong Kong Sourcing Ltd.
Tchibo GmbH
Gatsby Africa
Sainsbury's Argos Asia Limited
Lululemon Athletica Inc
Rosset ;& Cia Limited
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
Truetzschler India Private Limited
Decathlon
Lenzing Aktiengesellschaft
BIANCA
Sportmaster Ltd.
Sateri (Jiujiang) Fiber Co.,Ltd
Midas Clothing Limited
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Rayonese Textile Inc., Division de Culp Inc.
Calvin Klein
SHAHI Exports Pvt Ltd
IDH – The Sustainable Trade Initiative
Esprit Europe Services GmbH
G-Star Raw C.V.
Seasalt Limited
Splash
Boardriders Asia Sourcing Limited
Lacoste (Wanchai)
Aramark Uniform ;& Career Apparel, LLC
Desigual - ABASIC, S.A.
Maceton Limited
SYNERGIES HONG KONG LIMITED
Restoque S.A.
Under Armour Global Sourcing Ltd
Reiter India Private Limited
The Top Form Brassiere Manufacturing Company Limited
Chico’ FAS
Amazon China
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
Hela Clothing Pvt Ltd
Walmart
J ;& P Coats
Benetton Group
Groz-Beckert East Asia LLP
Hirdaramani International Export Private Limited
Puma
THE BOMBAY DYEING ;& MFG.CO. LTD
Bluestem Global Sourcing Limited
Babyshop
Arvind Limited
NITI Aayog
Tommy Hilfiger
Eastman Chemical Company
International Textile Manufacturers Federation
Sportswear Company Spa
Landmark Group
Brandix Lanka Limited
Varner AS Retail
KAS Direct Sourcing
Helly Hansen Far East Ltd
Cat Tuong Real Estate Group Joint Stock Company
Gap International Sourcing Limited
BIMBA ;& LOLA SL
Tory Burch Hong Kong Ltd

January 2022

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search