India overtakes China to top global Retail Development Index in 2017
India has topped the global Retail Development Index in 2017, overtaking China. This is indicative of the growing prominence of India as a preferred retail destination for global retail brands. During the first six months of the year, there were 70 new entries/expansions by {global and domestic|domestic and global} brands across the cities of Mumbai, Delhi-NCR and Bengaluru. Seven new global brands entered the country and investments into the segment by PE Firms/Wealth Funds touched USD 200 million, says CBRE's India Retail MarketView report for the first half of 2017. Additionally, several retail developments were completed across select cities resulting in approximately 1.5 million sq. ft. of fresh supply entering the market. During the first half of the year, demand for quality retail space remained robust with a majority of this supply concentrated in Mumbai, Bengaluru and Delhi- NCR. {Commenting on the findings of the report, Anshuman Magazine, Chairman, In...