`Urbanisation, lifestyle changes will drive growth`
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15/02/2004
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Business Line (New Delhi)
Factors such as income growth, urbanisation and lifestyle changes are likely to drive economic growth in India over the next few years, according to Dr Rakesh Mohan, Deputy Governor, Reserve Bank of India. He made this observation while delivering a lecture on 'India - Shape of things to come' at the Centre for Management Development in Thiruvananthapuram. For instance, rapid urbanisation in India will trigger an increase in demand for housing, which in turn will lead to the development of the mass consumer market and also trigger the growth of the country's organised retail sector.