algo/systematic trading in India

People in India are aggressively getting into system based trading with algo trading driving about 40% to 50% of the trading volume on the NSE. From order-book data and changing performance of different strategies over the last five years, I think the following quant strategies have big money running on them in India -

• Momentum and Reversion portfolios based on ranking alpha factors - this is still in its earlier stages with simpler factors being used
• Pairs trading using Bollinger Bands and 2 sigma test. Many players have started to use co-integration instead of correlation
• Some basic use of ARCH/GARCH models in the options space
• Volatility arbitrage.. with poor gamma management
• Order-book balancing 
• Automated standard technical trading systems
• All manner of arbitrage strategies

This isn't a comprehensive list.