India and China are hot favourites for global retail companies, despite “indications of a slowdown”, according to the Global Retail Index report unveiled on September 19 at the World Retail Congress, London.
The report, based on a survey of 200 CEOs and directors of global retail companies, said the two countries exuded hopes of increase in footfalls and new stores, notwithstanding a “cautiously optimistic” view of retailers over future business prospects.
Retail sales in India could spurt by 50 per cent over the next five years, while organized retail, currently pegged at about $ 23 billion could go up to $ 80 billion over the same period, according to the Chairman of Teknopak, Arvind Singhal.
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