New Delhi: Highlighting India’s continued growth story, the Government said on 10 June that the country is likely to capture 15% of the $54 billion Knowledge Processing Outsourcing (KPO) industry by 2010.
Addressing the Plenary Session on the Emerging Power of Emerging Markets at St Petersburg, commerce and industry minister Kamal Nath said an estimated growth of 9% by India over the next five years would require investment rate of 35.1% of GDP.
At the session, organised by the International Economic Forum, he said the organised retailing in India is expected to grow at 37% in in 2007 and 42% in 2008.
“This is also offering opportunities in the real estate sector,” he said.
Quoting a McKinsey study, Nath said the Indian pharma industry is projected to grow to $25 billion by 2010.
He emphasised the opportunities presented by India’s farm and food processing sector, which has been identified as a priority area. He also spoke of India’s strength in the gems and jewellery and automobile and auto-components sector.
Kamal Nath said the change in the global trade has come about as a result of the rise of the emerging markets and pointed to India as an example of the growing clout of these countries in the global economy.
“While India continues to alter the coordinates of global trade, the country itself has seen robust growth in manufacturing ...Very few countries in the world match these growth rates,” he said, according to an official release here.