The Indian semiconductor industry is on a growth path, driven by an upsurge in domestic sales. The main sectors driving semiconductor sales in India are telecommunications, automotive, industrial electronics and consumer electronics.
The solar energy, renewable energy and automated healthcare services sectors are also beginning to boost demand and growth for semiconductor products.
The Indian government has relaxed the minimum built-up area norms for Special Economic Zones coming up in smaller cities amid concerns over the adverse impact of the Direct Taxes Code on them.
The Indian government is set to increase IT spending in the near future as it continues to boost its e-government services. It has already spent about INR10,000 crore on such projects but is expected to pump in another INR20,000 crore in other various projects under the National e-Governance Plan (NeGP) in the next few years.
The Securities and Exchange Board of India (SEBI) has relaxed lending disclosure norms for foreign institutional investors (FIIs), allowing them to disclose information on a weekly instead of the current daily basis starting from 2 July 2010.
The International Monetary Fund (IMF) has raised its India growth forecast for 2010 to 9.4 per cent from 8.8 per cent estimated in April.
In its July update of the World Economic Outlook (WEO) projections, the Washington-based multilateral agency, however, kept unchanged its 2011 India growth forecast at 8.4 per cent.
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