Many single-brand global retail giants such as Gap and Zara announced their plans to enter India and many were in the exploration stage. Many domestic conglomerates also had big plans. One of the leading Indian conglomerates, Reliance Industries, announced its plans to invest Us$3.4 billion in retail in India and establish a chain of 1,575 stores by mid-2007. Another group, K Raheja Group, had plans to open 55 hypermarkets by 2015. In 2006, India was ranked as the top destination for retailers according to A.T. Kearney's Global Retail Development Index (GRDI) (see Exhibit9).