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Our Bureau

New Delhi , June 22

INDIA has climbed up three notches to emerge as the second most attractive investment destination for global retailers, according to the management consultant AT Kearney's `2004 Global Retail Development Index'.

The index, an annual ranking of retail investment attractiveness among 30 emerging markets, has Russia on top for the third year. China comes after India, while East European and South-East Asian countries dominate the top 10.

AT Kearney has advised retailers to enter the Indian market as soon as possible.

"India is at a stage where China was about 15 years ago. The lack of consolidation and modern retail concepts in India present great opportunities for global retailers ready to enter this year," said Mr Fadi Farra, Manager with AT Kearney's consumer industry and retail practice and co-leader of the study. The advice comes despite restrictive foreign direct investment rules and regulations preventing foreign ownership of retailers in India.

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