India has been for the past decade one of the most promising country in the world. It is considered part of the BRIC (Brazil, Russia, India and China), a group of country which share common assets that set them among the potential leaders of the future.
I have always considered India as one of the most promising of these countries for several reasons:
- They have a large population
- They have the chance to have access to the sea, which helps both importation and exportation
- They speak English, the language of world business
- They have high skills in computing, which is an opportunity.
But laetely, India has struggled to grow as much as expected.
A recent AT Kearney's report show that India fell to 14th on the most attractive destination for global retailers list. Those past years, a lot of retailers expressed a lot of interest in India, such as Carrefour which launched a cash & carry store couple of years ago, Walmart also, or Auchan that set a strong partnership with a big Indian company.
But things are moving slowly. The infrastructure remain low, and the average income too. What is the main issue remains political uncertainty and corruption.
How long will retailers need to wait before leveraging the full potential of this continent-country?