India and Vietnam are vying with each other to woo semiconductor companies to their country. With the tension between the US and China escalating, and Taiwan getting vulnerable both countries are trying to present themselves as alternative destinations for global players. Vietnam, which started the effort as early as 2010, has got a leg-up after US President Joe Biden's visit last month.
Zetwerk is not exactly a household name, but this unicorn, boasting revenues of Rs 11,450 crore as of last year, is among the top four electronics manufacturers in India. The startup is capitalising on a notable trend in smart TV sales - fall in collective shipments from top brands like Xiaomi, Samsung, LG and an uptick in the market share of smaller, regional, and online brands. Emerging as a key Electronics Manufacturing Services (EMS) player, Zetwerk operates a plant in Haryana that caters to 10 per cent of the country's overall smart TV production capacity.
Indian lenders are unlikely to clear the vertical split of BSE-listed Vedanta Ltd in a hurry, considering that the demerger would reduce the fungibility of cash flows across businesses and increase their volatility, according to analysts. The demerger plan, which would result in six separate listed entities, would require approval from shareholders, lenders and other statutory bodies. "We believe that a separate listing of different businesses would reduce the fungibility of cash flows across businesses and increase the volatility of cash flows.
Can Bhavish Aggarwal upend the electric two-wheeler market, which is now overwhelmingly in favour of scooters?
Bajaj Auto has virtually closed the gap with Ather Energy in September, notching up 6423 EV registrations compared to 6466 registrations by Ather.
Reliance Retail Ventures Ltd (RRVL) is discussing a three-pronged plan that includes an additional divestment of $250-300 million this year, apart from what it has diluted in favour of the Qatar Investment Authority (QIA) and US-based private equity fund KKR recently.
The first leg of Micron's semiconductor play in Sanand is crucial for the company to sprint towards India's goal of joining the chip race.
Even as top Pegatron executives went to the factory near Chennai on Tuesday to make an assessment of the fire damage to decide on a possible date for resuming operations, sources said the impact of the closure will be minimal for Apple's iPhone production. Late in the evening sources said that the factory might be operational soon-but said they are waiting for a final update. It will also not impact the availability of the newly-launched iPhone 15 and iPhone 15 Plus, they said.
There is no plan to direct over the top (OTT) communications players who generate large amounts of traffic to give a 'fair and proportionate' share of their revenues to telecom network operators, the communications ministry has said. A senior official allayed any such apprehension by saying: "We have no proposal of this kind or anything like this which we are working on. "There is no fresh reference on this matter to the regulator (Trai)," he said. The ministry's view is significant as telecom network operators have been escalating this issue since July when Trai issued a consultation paper called 'Regulatory Mechanism Over OTT Communication Services and Selective Banning of OTT Services'.
The net financial savings of the household sector has moderated to 5.1% of GDP in FY23 from 7.6 per cent in FY20, as households shifted their savings to physical assets amid low interest rates during the pandemic, according to State Bank of India's (SBI) Research report.
Showing the effect of the slowdown in global economic activity, the equity foreign direct investment (FDI) into India declined sharply to $13.9 billion in April-July 2023 from $22.04 billion a year ago. The net FDI, inflows minus outflows, declined from $17.28 billion in April-July 2022 to $5.70 billion in April-July 2023 on account of moderating gross FDI and a rise in repatriation. Gross FDI into India moderated to $22.0 billion during April-July 2023 from $29.6 billion a year ago, according to Reserve Bank of India data.
The Reserve Bank of India's (RBI's) decision to withdraw the incremental cash reserve ratio (I-CRR) is expected to benefit banks during the festival season. They are likely to increase deposit rates by up to 25 basis points (bps) in select maturity buckets. The rise in demand for funds to cover tax payments and meet quarter-end business targets could influence rate decisions by banks, according to bankers and money market executives.
Reflecting subdued global economic growth, India's outward foreign direct investment (FDI) fell by 33.3 per cent sequentially to $1.21 billion in August, compared to over $1.82 billion in July.
Apple Inc has announced the India prices of the new variants of its bestselling smartphones - launched on Tuesday - as it assembles the device in the country. The new iPhone 15 range starts at Rs 79,900 for the 128 GB variant (the same price as the iPhone 14 when it was launched last year) and goes up to Rs 199,900 for the top-end Pro Max with a 6.7 inch screen and 1 TB (terabyte) storage. The world's most valuable company also launched three new upgraded Apple watches, starting with the SE at Rs 29,900 and going up to Ultra 2 at Rs 89,900.
As a step to entrench its consumer finance business, Bajaj Finance (BFL) plans to scale up its business-to-business (B2B) activity, both in terms of volume as well as value. It plans to add up to 1,000 cities in the next three years and this will mark its presence in around 5,000 cities. The expansion activity will be more in Northern and Eastern India.
It started out as a Production Linked Incentive (PLI) scheme to make India an export hub. But after many a twist and turns, the latest 2.0 PLI for IT hardware, for which the 40 eligible candidates have applied till its deadline, is now focused on 'import substitution'. The scheme will help in reducing India's over-dependence on imports (80 per cent of laptops are imported), especially from China which include laptops, tablets and servers.
From the customer point of view too, LFP batteries are safer and offer a longer life.
Lenders in India, comprising banks and finance companies, anticipate robust growth in retail credit during the upcoming festival season, stretching from September to December 2023. This expectation is based on resilient demand, government initiatives, and elections in key states.
Indian sweet, snack, and restaurant chain group Bikanervala, with revenues of over Rs 3,000 crore, is working towards an initial public offering (IPO) for its food company in the next three years. Before that, it could also bring in private equity (PE) investors. The low-profile Aggarwal family-owned group company, Bikanervala Foods (which also sells under the brand name Bikano), operates in the snack business.
Interrupting a two-month streak of decline, outward foreign direct investment (FDI) rose sequentially to $1.85 billion in July over $1.07 billion in June, an increase of 73 per cent. However, it was lower than the $2.18 billion in July last year, according to the Reserve Bank of India data. Outbound FDI, expressed as financial commitment, has three components - equity, loans, and guarantees.
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