Union telecom minister Jyotiraditya Scindia on Tuesday said investment in India at present makes economic sense for every original equipment manufacturer, as he cited the example of US smart devices major Apple's decision to source majority of the iPhones sold in the US from the country. While speaking at the Bharat Telecom event, Scindia said the investment in India at present is not just an act of goodwill alone but it makes economic sense for every OEM (original equipment manufacturer).
Zetwerk Manufacturing, a $3.1 billion company in the contract manufacturing space, is planning to come up with an initial public offering within the next 15-24 months, a top company executive said on Saturday. The Bengaluru-based company aims to raise at least $500 million, targeting a valuation of around $5 billion.
The eighth Budget of Finance Minister Nirmala Sitharaman continued to focus on 'GYAN' (Garib, Youth, Annadata, Nari) to maintain a consistent and coherent strategy initiated over the years in pursuing the government's vision for Viksit Bharat. The approach, characterised by incremental yet impactful steps, aims to create a compounding effect over time.
The company is planning to invest Rs 1,100 crore in the new mobile phone manufacturing facility.
Prime Minister Narendra Modi began his engagements in the US on Thursday by meeting with leading American CEOs from five different key sectors and highlighted the economic opportunities in India.
The government on Wednesday approved a Rs 7,350-crore scheme to boost production of laptops, tablets, all-in-one PCs and servers in the country, as it sought to woo global and domestic players to take advantage of India's manufacturing prowess. Production worth Rs 3.26 lakh crore and exports of Rs 2.45 lakh crore are estimated over the next four years under the new scheme, which is expected to create 1.80 lakh jobs. Briefing reporters after a meeting of the Cabinet, Communications and IT Minister Ravi Shankar Prasad said the Production Linked Incentive (PLI) scheme has been approved for IT hardware products that would cover laptops, tablets, all-in-one PCs and servers.
The DTH industry has to pay entertainment tax to state governments and service tax to the central government.
Uttar Pradesh has the potential to attract investment of about Rs 72,000 crore (Rs 720 billion) by 2020 in the field of electronics system design and manufacturing.
Come July, mobile phone prices are expected to be dearer by up to 10 per cent due to the steep depreciation in the value of rupee against dollar.
The project, code-named MF101 by Foxconn, will be spread across 1,500 acres at Talegaon or Khopoli.
Andhra Pradesh Chief Minister N Chandrababu Naidu, who was instrumental in developing Hyderabad as a key information technology services destination in the country, is now embarking upon a mission to establish the state as an electronics manufacturing hub.
India is today one of the top locations for semiconductor design and embedded software, but it remains hidden under a generic and misleading name, IT/ITES services.
'It is in electronics that the gap between where we are and where we need to be is most obvious and most persistent.' 'It is not only a national security issue, but also a commercial issue,' argues Rajeev Srinivasan.
A large chunk of the Rs 8.8 lakh crore of investments the Patnaik government had attracted is in uncertain territory.
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