Emerging markets such as India are no longer viewed solely as low-cost sourcing and production locations.Emerging markets are also becoming an important source of consumer demand. As developed economies struggle to recover from global economic pressures coupled with shrinking consumption demand, India is poised to become one of the world's top-five consumer markets. India's economy grew at 9 percent from 2003 to 2008 and is currently projected to grow from 6 percent to 7 percent over the next year. In contrast, developed economies are projected to grow at 1 percent to 2 percent during the same time frame.
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