Asian giant still lags behind other emerging nation in electronic payments usage, despite rising base of credit and debit cards, and other paperless transaction modes, according to Visa-Moody's Analytics.
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Country is on the verge of an "Internet boom", and could see Web industry raise its contribution to GDP from 1.6 percent to 3.3 percent, but limited infrastructure will be key challenge.
Indian government says it will match dollar-for-dollar if local organizations pitch in funds amounting to 1 percent of the country's GDP toward technology and science research.
Information technology and IT-enabled services will employ 4 mln people in 2008 and account for 7% of GDP and 33% of India’s foreign-exchange inflows, according to Nasscom.