India has replaced China as the top retail destination in 2017 as part of the global retail development index. The change in ranking was an outcome of four factors including increased consumer spending beyond essentials, rising mobile and internet penetration, favorable foreign investment climate and bold action on cashless transaction and GST.
In addition to the bigger retailers and brands, the mid-size brands from across the world are also looking to cash on the relaxed retail policy in India.
Important Takeaways from Above News-
- Arun Jaitley is the Cabinet Minister of Finance.
Source- The Indian Express