The Hindu Business Line : For global retailers, India ranks 44th in the preferred destination list

New Delhi, March 31 India has been placed at number 44 in the list of preferred destination for global retailers looking to expand, according to a latest report by CB Richard Ellis.

Out of the BRIC (Brazil, Russia, India and China) countries China and Russia are in the top 10 of the rankings while India and Brazil are way lower down in the order.

The report ‘How Global is the business of Retail?’, maps the global footprint of 250 of the world’s top retailers, explores the globalisation of the retail industry and scrutinises retailer presence in relation to market sectors, country of origin, regional trends and other influences.

“Even though the Indian economy is growing at a rapid pace with consumers having more buying power, we are still only at the 44th position on this list. This is primarily due to FDI restrictions in retail and also relatively lower average per-capita income in the country. Hopefully in the future if the FDI norms are relaxed, coupled with expected economic growth, India would move up in the rankings,” said Mr Anshuman Magazine, Chairman and Managing Director, CB Richard Ellis South Asia.

The study ranks the UK as the global leader in relation to international retailer presence, with 55 per cent of retailers surveyed present.

Spain’s position as the second-ranked market, closely trailing the UK, is an unexpected result which gives perspective to the market’s new global significance, with 51 per cent of retailers present.

France and Germany also performed strongly in the global ranking, achieving third and fourth positions respectively, and emerging markets including the United Arab Emirates, China and Russia all figured in the top 10.

The US surprisingly registered outside the top 10, at number 11, with 39 per cent of international retailers present in that market.

CB Richard Ellis attributes this to the maturity, size and strength of its domestic retailers, which make it a market that only the strongest foreign retailers are able to break into.

The report also analysed which types or categories of retailers have the strongest international penetration, and found that luxury goods dominated international retail expansion, with almost 90 per cent having a presence in more than 10 markets.

This was markedly more than grocery, food and drink retailers, with just 60 per cent present in 10 or more markets, and the clothing, footwear and accessories retailers of which 54 per cent were in more than 10 markets.

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