Montek: NDC meet to review economy
New Delhi: The two-day National Development Council meeting beginning on Monday would review the state of economy and decide on taking corrective steps to place the economy on a high growth trajectory of 8 per cent in the Eleventh Plan.

''We are looking forward to hearing from the CMs whether they agree with our assessment of the corrective steps as suggested in the mid-term appraisal (MTA) of the Tenth Plan,'' Planning Commission Deputy Chairman Montek Singh Ahluwalia has said.

He, however, said, ''Implementing these corrective steps is what is much more difficult. But to agree in principle that this is what we need to do, is much more important.''
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ESC: ITES exports 41 per cent
New Delhi: Exports of computer software and services together with IT-enabled services touched Rs77,300 crore in 2004-05, reflecting a growth of 33 per cent, according to the provisional figures released by the Electronics and Computer Software Export Promotion Council (ESC).

ESC also said: "The rate of growth in export of computer software and ITES works out to be 33 per cent (37 per cent in dollar terms) for 2004-05, which is quite impressive.
More significant in the growth paradigm is the 41 per cent (45 per cent in dollar terms) leap in exports in the ITES segment."
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$12bn semiconductor fabrication unit coming up in Andhra
Hyderabad: Nano-Tech Silicon India Pvt Ltd (NSTI), which plans to set up a mega semiconductor fabrication facility, hopes to complete the first round of financing and finalise a technology partner within the next sixty days.

The financing includes $64-72 million equity; $116-130 million debt and a $150-million construction fund. The technology partner will invest up to 20 per cent of the total equity of $160 million, according to Dr P. June Min, one of the main promoters of NSTI.

Speaking to newspersons at a the `ground breaking' ceremony for the semi-conductor fab facility, which is expected to cost over $12 billion in the next 15-17 years, Dr Min said the Indian contribution of the total investment would be around $310 million.

NSTI has been scouting for both industrial investors and technology partners. The facility is expected trigger a rapid growth in the electronics and semi-conductor sectors.

The demand for semi-conductor products reached $1.2 billion by the end of 2004 in India. The fabrication facility would contribute $210 million to the gross domestic product growth of Andhra Pradesh, the release added.
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