to three conditions; products could be sold under a single brand, the products should be sold
under the same brand internationally and the products needed to be branded during manufacturing.56
Any addition to the product or product categories under the single brand would require
fresh government approval.
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 2015.57 In 2006, India
was ranked as the top destination for retailers according to A.T. Kearney’s58 Global Retail Development
Index (GRDI) (see Exhibit 9).