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Test # 58


1.
I keep an extra ________ of shoes at my office.

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  • Economy of India

    Retail

    Retail industry contributes between 14 15 Percent to 20 Percent of India s GDP. The Indian retail market is estimated to be US$450 billion and one of the top five retail markets in the world by economic value. India is one of the fastest growing retail market in the world, and is projected to reach $1.3 trillion by 2020.

    India s retailing industry mostly consists of the local mom and pop store, owner manned shops and street vendors. Organised retail supermarkets are growing but small, with a market share of 4 Percent as of 2008. In 2012 government permitted 51 Percent FDI in multi brand retail and 100 Percent FDI in single brand retail. However, a lack of back end warehouse retail infrastructure, as well as state level permits and red tape continues to limit organized retail s growth in Indian economy. Over thirty regulations such as signboard licences and anti hoarding measures have to be complied before a store can open doors. There are taxes for moving goods from state to state, and even within states. The lack of infrastructure and efficient retail network, according to The Wall Street Journal, causes a third of India s agriculture produce to be lost from spoilage.


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