Retail in Asia

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India’s potential to be 4th largest manufacturing economy

India has the potential to be the fourth largest manufacturing economy in the world if the sector achieves and maintains an 11 percent growth rate over the next 15 years, the Confederation of Indian Industry-Boston Consulting Group Report on the Indian manufacturing industry said. Ranked the world’s 13th largest, India’s manufacturing sector has shown an annual growth rate of 6.8 percent over the last 10 years (1999-2009), so the figure of 11 percent is aspirational, although the report outlines key measures to make this achievable.