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Smaller cities trending to be the next hub of the smartphones: IDC

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The International Data Corporation (IDC) reported that tier 2 and 3 cities will lead the next trend of growth of Indian smartphone market, with the growing dispersion of smartphones.

According to the “Monthly City Level Smartphone Tracker” report issued on Thursday, the top 30 cities of India make around 51 percent of the smartphone market in the fourth quarter of 2015. New Delhi topped the list while Mumbai followed it.

Around 60 percent of the online smartphone sales are created by top 5 cities of India, the report added.

According to the report, around 21.3 percent of Indian smartphone market are created by 25 major tier 2 and 3 cities. The demands in smaller cities is mostly for 3G models. However, the demand of 4G smartphones will be expected to increase with increasing 4G smartphone portfolio. The movement of the trend in smaller towns and cities make it the market of next evolution centre for the smartphone industry.

“The smartphone consumers in tier 2 and 3 cities are becoming more aware and demanding. The 4G revolution is promising to trigger the next wave of smartphone growth with 4G enabled devices already overtaking 3G devices as the largest smartphone category,” said Jaideep Mehta, managing director, IDC South Asia.

“With the first time mobile phone users coming on a smartphone, it will be their only connected device which meets all of their internet and entertainment needs” added Swapnil Bhatnagar, research director, IDC India.

Chinese retailers like Lenovo, Motorola and Xiaomi are due to its quality brand, superior features and value of money are receiving the big market portion in these cities,” Swapnil noted.(IANS)

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Big reforms made India fastest growing major economies globally: Garg

It also has enormous implications for emerging markets and developing countries

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The RBI building in Mumbai. Photo credit: AFP/Sajjad Hussain

The major reforms undertaken by the Indian government for raising economic growth and maintaining macroeconomic stability have made the country one of the fastest growing major economies in the world, said Subhash Chandra Garg, Secretary, Department of Economic Affairs (DEA).

Garg was addressing the Special Event hosted by US-India Strategic Partnership Forum on ‘Indian Economy: Prospect and Challenges’ in Washington D.C on Friday.

Indian economy needs big reform.

He said the launch of the Goods and Services Tax (GST) represented an “historic economic and political achievement, unprecedented in Indian tax and economic reforms, which has rekindled optimism on structural reforms.” He further emphasized that India carried-out such major reforms when the global economy was slow.

“With the cyclical recovery in global growth amid supportive monetary conditions and the transient impact of the major structural reforms over, India will continue to perform robustly,” Garg said.

During his meetings, Garg highlighted that the digital age technologies have profound implications for policies concerning every aspects of the economy. It also has enormous implications for emerging markets and developing countries.

Also Read: Biggest Bank Frauds Which Shook The Indian Economy

He expressed that the response to such a transformation will have to shift from ‘catch up’ growth to adoption/adaption of digital technologies for development and growth.

Garg also informed that India has started adopting policies and programmes for transforming systems of delivery of services using digital technologies and connecting every Indian with digital technologies and access through Aadhaar and other such means.

Indian economy should be on rise. www.mapsofindia.com

While citing the example of expanding mobile data access, he mentioned that India is now the largest consumer of mobile data in the world with 11 gigabytes mobile data consumption per month. He informed that India is investing in digital technologies, encouraging private sector to adapt these technologies and also addressing the taxation related issues by introducing equalisation levy.

Garg is currently on an official tour to Washington D.C. to attend the Spring Meetings of the International Monetary Fund and the World Bank and other associated meetings. He is accompanied by Urjit Patel, Governor, Reserve Bank of India and other senior officials. IANS

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