According to the 2017 Global Retail Development Index, which country replaced China as the top retail investment destination?

Introduction / Context:
This question comes from international business and Indian economy current affairs. The Global Retail Development Index (GRDI) is published to rank emerging markets for retail investment attractiveness. In 2017, there was significant news that one country overtook China to become the top retail destination in this index, and this fact is often tested in competitive exams.

Given Data / Assumptions:

• The index referred to is the 2017 Global Retail Development Index.
• The question asks which country replaced China at the top position.
• Options include Russia, India, Japan, the United States of America, and Brazil.

Concept / Approach:
The GRDI focuses on emerging markets rather than advanced economies. It ranks countries on factors like market attractiveness, country risk, and market saturation. In 2017, India moved to the first position in the index, displacing China, due to reforms in foreign direct investment policies, strong economic growth, expanding middle class, and rapid development of modern retail formats. Therefore, the country that replaced China in that year was India.

Step-by-Step Solution:
Step 1: Recall that the Global Retail Development Index is about emerging markets, so highly developed economies like Japan and the United States are less likely to be at the top.Step 2: Among emerging economies, China was long a top destination but was overtaken in 2017.Step 3: India implemented major reforms and saw strong consumption growth, making it a very attractive retail market.Step 4: Reports in 2017 specifically highlighted that India had become number one in the GRDI.Step 5: Therefore, the correct answer is India.

Verification / Alternative Check:
News articles at that time often carried headlines like \"India replaces China as top retail destination\" or \"India tops Global Retail Development Index\". These headlines clearly link India with the number one position and with the displacement of China. Russia and Brazil have been important markets but did not reach the top spot in that year, and Japan and the United States are not the focus of this emerging markets oriented index.

Why Other Options Are Wrong:
Russia and Brazil have faced economic and political challenges in recent years that reduced their attractiveness for retail investment, so they did not surpass China in the GRDI. Japan and the United States are advanced economies and are not typically grouped as emerging markets in this index, making them unlikely candidates for replacing China at the top. As a result, all options other than India contradict the widely reported index outcome for 2017.

Common Pitfalls:
The main pitfall is to assume that China still holds the top position out of habit, or to guess another emerging market like Brazil without recalling the specific news. Another error is not recognising that the GRDI is about emerging markets and thus thinking of the United States or Japan. Regular revision of key rankings and indices, especially where India has achieved top positions, can help you answer such questions accurately.

Final Answer:
In the 2017 Global Retail Development Index, India replaced China as the top retail investment destination.