ST Microelectronics targets 25% growth in Indian market

Electronic chip maker ST Microelectronics said its business is expected to grow by 25%, driven by direct-to-home (DTH) and security segments, in the Indian market this year, reports The Economic Times.

"Though the industry is not expected to grow at the same pace as 2010's and is assessing itself at a more traditional 5 to 8% growth, ST expects to grow faster and outperform for the markets we serve," company CEO and President Carlo Bozzotti, the report adds.

"In Indian market we have been growing at a higher than industry average. Since last few years we have seen year-on-year growth of around 25% and we expect to maintain it," company's Regional Vice President (Greater China and South Asia Operations) Vivek Sharma said.

Source: The Economic Times