Booming India expects 9.2% growth
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India's economy is set to grow by 9.2% in the current financial year, the Indian government says.
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Nokia (NOK1V.HE) expects India to become  its second-largest market by volume by 2010, or even sooner,  the world's top cell phone maker said on Monday.
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The strong growth in exports is due to improvement in India's competitiveness and the addition of new services.
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Indian property developer DLF is set to  raise $2.4bn through a share float, the largest on the country's market to date.
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that is, in other countries such as China and India. According to an IDC study, China&#39;s IT growth is expected to be 15% annually and India&#39;s about 20%.
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NEW DELHI - German Chancellor Gerhard Schroeder said in New Delhi Wednesday that India&#39;s rapid economic growth made it an attractive destination for German investors.
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China&#39;s economy expanded at a roaring 11.9 percent in the second quarter, official data showed Thursday, prompting warnings that the government will clamp down hard to stop serious overheating.
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India's economy is expected to expand by 6.9 percent in the fiscal year ending in March, down from the previous year's record growth of 8.5 percent, the government said Monday.
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India&#39;s economy grew faster-than-expected at a record 9.4 percent pace in the year to March, beating a government forecast of 9.2 percent Thursday and raising hopes of more foreign investment.
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The government is committed to economic growth of 7-8 percent each year over the next decade on the back higher industrial and agricultural growth, Prime Minister Manmohan Singh said on Tuesday.
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(InfoWorld) - New research has confirmed that India's mobile phone market is set for a period of fast growth, with revenue from cellular services expected to jump by more than 18 percent each year for the next five years. Most of the growth will come from rural areas, where only 2 percent of the population have access to mobile phones today, said Madhusudan Gupta, senior research analyst at Gartner, which conducted the research. Service providers have already started to focus on rural markets, with aggressive rates and handsets priced at under $25, he said. Cellular service revenue in India will increase at a compound annual rate of 18.4 percent between this year and 2011, to reach $25.6 billion, Gartner estimated. Cellular revenue last year was $8.9 billion. As call rates fall from their current level of 2.6 cents per minute to rates comparable to fixed lines, which are about 0.9 cents per minute, a broad swathe of additional users will start using mobile phones, Gupta said. "The fixed-line infrastructure in India is not that good, which is giving enough of space for mobile wireless to move in," he said. Revenue from data will outpace that of voice services and contribute to about one fifth of revenue in 2011, more than double its share last year, although most of that growth will come from urban markets, Gartner said. As they expand into rural areas, operators will see their average revenue per user (ARPU) fall to $59.50 per year by 2011, from $82.1 last year. Successful operators will be those that make up for the falling ARPU through economies of scale, Gupta said. Operators are likely to collaborate by sharing infrastructure and outsourcing their network management to equipment vendors, and possibly system integrators, he added. For example, Bharti Airtel, a large Indian service provider, said Wednesday it had awarded a contract worth $2 billion over two-years to Telefonaktiebolaget LM Ericsson, to expand its network in rural areas and provide capacity management. The service providers should not be short of funds for expansion.Â Vodafone Group's acquisitionÂ in May of a controlling interest in the Indian operator Hutchison Essar, for $10.9 billion, has increased the valuation of all Indian service providers, and is helping them to attract private equity and other investments, Gupta said. The rural demand will come from businesses expanding into these areas, as well as from local businesses. Some individuals will own mobile phones, although the predominant model is likely to be a communally-owned handset, a concept already tried in some areas, Gupta said. India added 15.5 million mobile subscribers in the first quarter of this year, taking the total to 165.1 million, according to the Telecom Regulatory Authority of India. Gartner expects 58 percent of the rural population and 95 percent of the urban population to be covered by mobile networks by 2011. That year, the total number of mobile connections in India will have increased to more than 462 million, according to Gartner. India's total population at that time will be close to 1.2 billion, according to some estimates.
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The number of mobile phone subscribers in India last month swept past the country's fixed-line telephone base in a growth trajectory that is second only in speed and magnitude to that of neighbouring China.
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India's economy beats expectations in the second quarter, with services leading the way.
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Chinese President Hu Jintao said Sunday  economic growth could exceed nine percent this year and foreign  direct investment could top $60 billion.
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China's sizzling economy expanded by a stunning 11.9 percent in the second quarter from a year ago, the government said Thursday, and announced it would take new steps to cool the boom.
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China&#39;s annual economic growth surged  to an 11- year high of 11.9 percent in the second quarter,  cementing expectations for tighter policy to keep the world&#39;s  fastest-growing major economy from overheating.
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China&#39;s economic boom is still roaring despite efforts to cool sizzling growth, with gross domestic product climbing 9.5 per cent in the first three quarters of this year, the government reported Friday.