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India set to clock up to 8% GDP growth as it boosts manufacturing capacity, minister says
India could clock up to 8% annual GDP growth for several years as it focuses on boosting its manufacturing capabilities, a key government minister told CNBC on Thursday. “Every sector of the economy has seen a significant improvement in the manufacturing processes,” Union Minister for Railways, Communications, Electronics and Information Technology Ashwini Vaishnaw said. He highlighted that manufacturing in electronics, pharmaceuticals, chemicals and defense has seen great advancements and will tie into Prime Minister Narendra Modi’s ‘Make in India’ initiative that encourages companies to manufacture and ... (full story)