Surajeet Das Gupta

All stories by Surajeet Das Gupta

New scheme for EVs may put global majors in fast lane

New scheme for EVs may put global majors in fast lane

Rediff.com18 Mar 2024

The new scheme, promoting manufacturing of electric vehicles (EVs) by global majors, will give a fillip to companies like Tesla and its upstart rival Vinfast, both of whom have lobbied for lower import duties from the Centre. While Vinfast has already announced an investment of Rs 4,000 crore to set up an electric vehicle (EV) plant in Tamil Nadu, Tesla's next move will be watched carefully. Four years ago, Musk announced that his company would come to India.

Who's The Most Generous Of Them All?

Who's The Most Generous Of Them All?

Rediff.com11 Mar 2024

India Philanthropy Report 2024

How India is betting big on global outsourced chip play

How India is betting big on global outsourced chip play

Rediff.com9 Mar 2024

India is all set to make its presence felt in the $47 billion global outsourced semiconductor testing and packaging market, an arena where Malaysia and Vietnam have been way ahead so far. The Cabinet last Thursday cleared two projects, the Tata's assembly testing and packaging plant (ATMP) and the Murugappa-owned CG Power with Renesas from Japan as its tech partner. These, together with Micron's assembly and testing plant which is already being constructed in Sanad in Gujarat, will collectively invest Rs 47,300 crore to set up the factories.

Local suppliers, MNCs voice concerns over DPIIT's Make in India push

Local suppliers, MNCs voice concerns over DPIIT's Make in India push

Rediff.com1 Mar 2024

The Department for Promotion of Industry and Internal Trade (DPIIT) has proposed to raise the minimum local content under public procurement order in government contracts. But several local suppliers and multinational companies (MNCs) are saying such a steep target is not attainable. Class-I suppliers, whose goods, services or works offered for procurement has local content equal to or more than 50 per cent may see it hiked to 70 per cent, while it may go up to 50 per cent from 20 per cent for Class-II suppliers.

How Much Money Does An IPL Game Make?

How Much Money Does An IPL Game Make?

Rediff.com1 Mar 2024

At $16.8 million per match, the IPL is only behind America's National Football League.

Finnish firm HMD Global unveils strategy to recover lost ground

Finnish firm HMD Global unveils strategy to recover lost ground

Rediff.com20 Feb 2024

Can the launch of smartphones under its own brand name by Finnish company HMD Global - despite having a licence to use the Nokia brand which it bought from Microsoft - help it regain its once dominant position in the mobile phone sweepstakes in India, where it was once routed? In 2009, Nokia was the country's largest MNC with revenues of $4 billion and a market share touching 80 per cent in 2010. After this, its fortunes fell. Although it had been the first global player to set up an assembly plant, not only to assemble phones for the local market but for exports, it had to shut down operations in 2014.

After brisk start, electric vehicle penetration loses momentum in FY24

After brisk start, electric vehicle penetration loses momentum in FY24

Rediff.com16 Feb 2024

Even as the government debates whether to continue the FAME-II subsidy for electric vehicles (EVs), the share of such vehicles in overall sales is decelerating, after witnessing a heady growth in the first few years. The penetration of EVs - electric two-wheelers, passenger vehicles, three- wheelers and other segments collectively - in the first 10 months of FY24 has been pegged at 4.3 per cent, compared to 3.7 per cent in FY23, according to credit rating agency ICRA.

Govt nearly doubles PLI scheme share of five key industry segments

Govt nearly doubles PLI scheme share of five key industry segments

Rediff.com12 Feb 2024

In a big push to the production-linked incentive (PLI) scheme, the government has nearly doubled (increase of 81 per cent) the allocation in five key industry segments from Rs 8,405 crore in the Revised Estimate of FY24 to Rs 15,198 crore in the Interim Budget for FY25. The segments cover over eight PLI schemes, including mobile phones, IT hardware, pharma (PLIs for medical devices, intermediates and pharmaceuticals), food processing, telecom hardware and, auto and auto components. In FY24, DPIIT officials, however, said that the disbursements would be much higher at around Rs 11,000 crore than what has been budgeted for the year.

3-wheeler dominance gives Bajaj confidence to try 2-wheelers running on CNG

3-wheeler dominance gives Bajaj confidence to try 2-wheelers running on CNG

Rediff.com31 Jan 2024

Bajaj Auto, the king of the market for CNG-powered passenger three-wheelers, now wants to replicate this dominance in two-wheelers. The difference is that while the former is zooming - registrations for CNG-powered passenger three-wheelers nearly doubled during January-December 2023 - the latter, meaning a market for CNG-powered two-wheelers, does not exist.

India to tap 12% of global iPhone production in FY24, up from 9% earlier

India to tap 12% of global iPhone production in FY24, up from 9% earlier

Rediff.com25 Jan 2024

Apple Inc is expected to produce iPhones worth $12 billion (freight on board value) in India during 2023-24, according to discussions between the company's vendors and the government. This would account for around 12 per cent of Apple's global iPhone production-higher than the earlier plan of shifting around 9 per cent of the total to India by FY24, which is the third year of the PLI (production-linked incentive) scheme.

Indians Are Still Traveling To Maldives

Indians Are Still Traveling To Maldives

Rediff.com19 Jan 2024

Data for the first nine days of January shows that tourist arrivals from India to the Maldives has been at similar levels as last year during the same period.

India ranks 2nd in time spent on shopping apps

India ranks 2nd in time spent on shopping apps

Rediff.com17 Jan 2024

Indian shoppers accounted for 13 per cent of the total hours spent by mobile users across the globe on their shopping apps in 2023, next only to China in this regard. According to the "State of Mobile -2024" report released a few days ago by data.ai (previously known as App Annie), which looks into various segments of the app economy across the world, in the last calendar year, users in India collectively spent 12.84 billion hours on shopping apps. This represents an increase of over 73 per cent from the time they spent in 2020 and of more than 3.5 per cent over 2022.

India's share of venture capital funding lowest in 5 years

India's share of venture capital funding lowest in 5 years

Rediff.com16 Jan 2024

India's share of total global venture capital (VC) funding fell to 2.9 per cent in calendar year 2023 (CY23) - the lowest since CY19 - reaching $7.3 billion as most startups struggled to raise money without compromising on their earlier valuations. Based on global data by CB Insights on VC funding, funding to Indian startups fell by nearly a third compared to CY22 when it hit $20.6 billion and accounted for 4.8 per cent of the global figure. While the data shows that the world had 71 new unicorns (21 in Asia), India contributed only two of them, as compared with CY22 when it had 22.

Rs 26,400 cr on the cards for FAME-III

Rs 26,400 cr on the cards for FAME-III

Rediff.com4 Jan 2024

Based on discussions with stakeholders, the ministry is proposing to allocate Rs 26,400 crore for FAME-III subsidy alone with electric two wheelers getting around Rs 8,158 crore, electric buses Rs 9,600 crore and electric three-wheelers Rs 4,100 crore, according to sources in the know. Along with some other components like setting up an innovation fund and money for testing , the total allocation could cross Rs 33,000 crore, estimates suggest.

Electronics exports propelled by mobile show sharpest surge in top 10 club

Electronics exports propelled by mobile show sharpest surge in top 10 club

Rediff.com3 Jan 2024

Exports of electronics goods has risen by 24 per cent from April to November as compared with the same period in the last fiscal, the largest increase out of India's top 10 export categories. The increase has been propelled by mobile exports under the Production Linked Incentive (PLI) scheme and has pushed electronics up from sixth to fifth position in the top 10. A gap of $200 million separates electronics from occupying the fourth position, currently held by drugs and pharmaceuticals at $17.9 billion.

Ola Electric's Rs 5,500 cr IPO to bolster its EV market, say experts

Ola Electric's Rs 5,500 cr IPO to bolster its EV market, say experts

Rediff.com1 Jan 2024

Ola Electric's initial public offering (IPO), of Rs 5,500 crore, is essentially aimed at ensuring the company maintain its top position in the electric two-wheeler segment, with incumbent players TVS and Bajaj Auto giving a fight to the number one player in market share. Most experts and competitors say the amount being raised is in line with the investment required to expand the electric-vehicle (EV) business. There are two discernible trends in the competitive electric two-wheeler market.

India 15th in top 25 AI nations but has 'greatest upward potential'

India 15th in top 25 AI nations but has 'greatest upward potential'

Rediff.com27 Dec 2023

India may be 15th among the top 25 Artificial Intelligence nations, but it has the 'the greatest upward potential' according to research by Tufts University's business school, the Fletcher School. At the top is the US, followed by China, fighting for global leadership in AI followed by the UK, Japan, and Germany. In the 15th spot, India is ahead of Brazil, Argentina, Indonesia, Mexico, Turkey, Indonesia and Thailand.

How govt's PLI scheme is fuelling Dixon's global dreams

How govt's PLI scheme is fuelling Dixon's global dreams

Rediff.com27 Dec 2023

Dixon Technologies right now is a beehive of activity. It is building a new facility in Noida to make 1.3 million laptops for Taiwanese PC maker Acer. The facility must be up and running in four months. The pace of activity will only increase. Last week Dixon won a similar contract from Lenovo, the Chinese personal computer maker and the third largest information technology (IT) hardware brand in India, to assemble laptops and notebooks. Though the clientele in these two cases is Taiwanese and Chinese, Dixon is a company reaching for the stars with its feet planted firmly in the Indian government's policy.

India The Next Big Travel Market

India The Next Big Travel Market

Rediff.com19 Dec 2023

In outbound travel, India will be ahead of Italy, South Korea, Australia, Canada and France.

India's domestic aviation capacity soars beyond pre-pandemic level

India's domestic aviation capacity soars beyond pre-pandemic level

Rediff.com12 Dec 2023

The growth in India's domestic aviation capacity in calendar year 2023 (CY23) was the sixth highest among 20 major domestic markets, compared to the pre-pandemic year of CY19. The domestic capacity in the country surpassed the pre-pandemic level seen in CY19 and was up 5 per cent in CY23. It trails Mexico, Columbia, China, Vietnam, and Spain, which have shown higher growth, according to data shared in a seminar organised by global travel data provider OAG on global aviation trends in 2023.

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