CURRENT AFFAIRS

Detailed explanation-1: -The Global Retail Development Index findings. At the top of this year’s rankings, India and China switch places, with India overtaking China for first (see figure 1).

Detailed explanation-2: -The Global Retail Development Index (GRDI) has ranked 1st to India in 2017. The GRD, 2017 titled ‘The Age of Focus’ has placed the ranks among 30 developing countries. China has placed the Second Position in the Index. The GRDI is annually published by London-based business consultancy A T Kearney.

Detailed explanation-3: -India is No. 2 as per the 2021 Global Retail Development Index (GRDI), released recently by Kearney, a leading global management consulting firm. This is done based on market attractiveness, country risk, market saturation and time pressure.

Detailed explanation-4: -According to the global consulting firm Deloitte’s report titled “Global Powers of Retailing 2022: Resilience Despite Challenges”, The Indian brand, Reliance Retail, ranked 56th on the Top 250 list based on the retail revenue growth for FY2020.

Detailed explanation-5: -The Global Retail Development Index™ is an annual study that ranks the top 30 developing countries for retail expansion worldwide. The Index analyzes 25 macroeconomic and retail-specific variables to help retailers devise successful global strategies and to identify developing market investment opportunities.