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INDIA'S REAL ESTATE & RETAIL SECTORS TO THRIVE IN 2008: ASSOCHAM.
NEW DELHI, Jan 1 Asia Pulse - India's industry body Assocham said the year 2007 saw a growth of 30-35 per cent and 40-45 per cent in retail and real estate sectors respectively and predicts this boom will continue in 2008 too.
According to a report by Assocham, organised and unorganised retail sizes in 2007 has been estimated at US$300 billion which is likely to grow to US$365 billion in 2008 and will further reach the size of US$440 billion by 2010.
"Out of (India's) retail industry, worth over US$300 billion, the organised retail segment is less than 5 per cent which works out to be slightly more than US$16 billion," said Assocham President Venugopal Dhoot.
In the year, the retail sector ended up with a growth of 25-28 per cent whereas the real estate industry saw a growth of 35-38 per cent, said the report.
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Source: HighBeam Research, INDIA'S REAL ESTATE & RETAIL SECTORS TO THRIVE IN 2008: ASSOCHAM.