NEW DELHI, December 15 – LIVEMINT – According to Rothschild, the UK-based global financial advisory firm, India would be the No.3 auto market by 2015. Currently, India is the sixth largest market after China, the US, Germany, Japan and Brazil. The market, which includes cars, trucks and auto parts, is expected to be 3.5 million units by the end of 2011-12. Car production capacity in the country is expected to increase from 4.8 million units in 2010 to 12 million in 2018. These numbers will roll out from 30 new factories in eight years. To create this capacity, fresh investment of $30 billion to $40 billion would be made by manufacturers, which will in turn create 300,000-500,000 new jobs. – LIVEMINT – According to the Indian Prime Minister Manmohan Singh the Indian economy will return to a long-term growth pace of 9% as inflation slows and the government extends a record of market-opening policies. Gross domestic product will increase 7.5% in the fiscal year that ends 31 March, while inflation will cool to between 6% and 7% and the slide in the rupee would not diminish investors’ confidence. – BUSINESS STANDARD –India and Russia may have last year elevated their strategic partnership to “special and privileged status,” but there seems no evidence of private enterprise in both countries following in the footsteps laid down by their respective governments. The irony is that bilateral trade stands around $9.6 billion, while the defence trade is double that, around $20 billion annually. But the fact is that unlike the rising trade graph with China and the US, the $15 billion goal for trade with Russia in 2012 is a distant dream. Indian businessmen seem even less interested than their Russian counterparts. – ECONOMIC TIMES – Heads of Information technology at India's top enterprises have decided not to trim their budgets for 2012, and would like to spend nearly $25 billion next year, along with large government departments, on buying new software applications, IT services and computer hardware. According to research firm Gartner, the telecommunications market is the largest IT segment in India with IT spending forecast to reach $54.7 billion in 2012 followed by the IT services market with spending of $11.1 billion. The computing hardware market in India is projected to reach $10.7 billion in 2012 while software spending will total $3.2 billion. Gartner's forecast shows that worldwide information technology spending will reach nearly $3.7 trillion in 2011.