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Data released Thursday indicated India’s sustained economic momentum at the start of the new fiscal year, with goods and services tax (GST) collection growing at a rapid clip in May as manufacturing activity hit a 31-month high in the month. Vehicle and fuel sales backed up the trend.
India will focus on creating a supportive ecosystem for semiconductor manufacturing in the country first, and not only on fabrication units, according to union technology, railways, and telecom minister Ashwini Vaishnaw.
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