India Emerges as the 39th Most Preferred Retail Market World over

April 30, 2009	(Be the first to rate this story!)  Loading ...
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India is the 39th most preferred destination in the world for establishing presence in the retail market, moving up the ladder from the 44th spot last year, according to global real estate consultant CB Richard Ellis (CBRE). In its global report titled ‘How Global is the business of Retail?’, CBRE said the ranking, however, does not justify the size of the country’s economy. While UK topped in the global list, for the Asia Pacific region China headed the rankings followed by Japan, with India at the 11th spot.

“Since the last survey done a year ago, India has moved from the 44th position to the 39th position. This move however does not justify the size of our economy,” CBRE Chairman and Managing Director Anshuman Magazine said in a statement. He said even China has moved to the sixth position globally from 10th place last year. Among the Asia Pacific countries too, India is at the 11 th position, behind smaller countries like Singapore and Indonesia.

“This ranking is not only because FDI in retail is not allowed but also due to relatively lower purchasing power, cost and availability of real estate, besides infrastructure and supply chain management issues,” MAgazine said, however adding a market like India could be not ignored too long and would move up in the ranking and attract more international players.

News Published Under:   Retail Market in India |

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