Summary |
Economic system based on online business transactions an economy in which the main productive functions are in electronic commerce, for example, trade on the Internet Traditionally, digital economies evolved predictably. In both the developed markets in the United States and Europe, as well as in China, Malaysia and other emerging markets, it was a logical progression from PCs to basic dial-up connectivity to 3G and beyond, driven by the supply of infrastructure and technology. For similar reasons, India is on the verge of a major digital revolution. With a growing middle class that now numbers nearly 400 million people, India’s electronics equipment consumption, estimated at $28.2 billion in 2005, is expected to reach $363 billion by 2015. Domestic production totaled $10.99 billion in 2005 and is projected at $155 billion in 2015, according to ISA estimates, thanks to such drivers as mobile phones, wireless equipments, set-tops and smart-card terminals. But despite recent rapid growth, India’s semiconductor market still constitutes just over 1 percent of the global total
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