Who is the ruling party in India?
The National Democratic Alliance (NDA) is the ruling party in India. The NDA is a coalition of parties led by the Bharatiya Janata Party (BJP) that was elected in the 2014 national elections. BJP leader Narendra Modi led the coalition to electoral success after promising to curb corruption, improve the ease of doing business, and increase foreign direct investment (FDI). In addition to the executive branch, the NDA holds a majority in the lower house of parliament as well as 15 of the 37 states and union territories.
Which sectors are open to foreign direct investment (FDI) in India?
The Indian government allows different levels of foreign direct investment for various industries. The following industries are open to foreign direct investment:
- agriculture,
- plantations,
- mining,
- petroleum and natural gas,
- defense,
- broadcasting,
- print media,
- civil aviation,
- construction,
- industrial parks,
- satellites,
- security agencies,
- telecom,
- wholesale trading,
- e-commerce,
- retail,
- asset reconstruction,
- banking,
- credit information companies,
- insurance,
- pension,
- power exchanges,
- white label ATM operations,
- non-banking finance companies,
- pharmaceuticals,
- and food product manufacturing.
The government permits different levels of foreign direct investment in each of these sectors and approves foreign direct investment for these sectors through either the automatic or government entry routes.
How is the information technology industry performing in India?
The IT industry in India is expected to grow its revenue between 13% to 15% in the 2015-16FY. The market for devices is the primary driver for the IT industry growth, while IT services software and data centers are other important growth contributors. Communication services remains the backbone of the industry in the country. Experts expect revenue projections remain positive: the IT market is forecast to grow 4.95% annually until 2019.