As many as 40 companies, including Dell, HP, and Lenovo, have applied for the IT hardware PLI scheme with a commitment to make personal computers, laptops, tablets, servers and other equipment worth Rs 4.65 lakh crore during the scheme period, an official statement said on Thursday. If all companies get selected under the scheme then the government will need to increase the incentive amount to Rs 22,890 crore against the budgetary allocation of Rs 17,000 crore, according to the note. "Total 40 applications have been submitted till the closure of the window on August 30.
Goalkeeper Madhuri Kindo shone under the bar as India displayed remarkable resilience to eke out a 3-2 win over USA in sudden death to finish ninth at the Junior Women's hockey World Cup in Santiago.
Just like in last year's ICC World Test Championship Final and the ICC Men's Cricket World Cup final, India and Australia are set to clash in the showpiece finale of another landmark ICC tournament, this time at the ICC U19 Men's World Cup 2024 in South Africa on Sunday.
The cost of open cells has seen an average increase of between 3 and 20%, and is higher for larger screen TVs in July, according to manufacturers of televisions
Consumer durable companies will again start to face a supply issue of components as China extends lockdown due to its zero Covid strategy. This will impact the flow of finished products into the Indian market, unlike last year, this impact will be felt post Diwali. While supply chain issues have been a problem since the start of the pandemic, China's zero Covid strategy has also posed another risk for consumer durable companies.
'I was in the US, where I met top executives of HP and Dell, and they are very keen to come to India.' 'Acer and ASUS have also evinced interest.'
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.
The government's target of hitting $52 billion to $58 billion in mobile phone exports in FY26 has been faltering; an Indian corporate group with financial muscle will help.
Indian teenager Anahat Singh won the prestigious Junior US Open Squash tournament in the Under-15 girls' category, at the Arlen Spectre Centre, in Philadelphia.
The government has approved Rs 357.17 crore for Apple's vendor Foxconn India and Rs 58.29 crore for Dixon Technologies subsidiary Padget Electronics under the Production-Linked Incentive scheme for mobile phones. This is the first time the government has cleared an incentive of a global company engaged in electronics manufacturing in the country. "Foxconn Hon Hai Technology India Mega Development Pvt. Ltd is the first global company that has been approved under the target segment 'Mobile Phones' (in the category of invoice value of Rs 15,000 and above) to receive incentive under mobile manufacturing for the period 1 August 2021-31 March 2022 based on its incremental investments and sales figures.
The reason? Price of open cell panels has gone up 15%. One of the main components in the manufacturing of TV sets, open cells contribute to 60%-65% of the manufacturing cost.
The pharmaceutical and the consumer durables sectors, which depend on China for imports, have not been impacted yet due to unrest in China with people protesting against lockdowns. But the lockdown could have an impact on the supply of components used in consumer durables if it continues for the next fortnight. In the pharmaceutical industry, Indian players import 66-70 per cent of their bulk drug requirements from China.
The government has asked industry to provide a list of Chinese suppliers that would like to shift some capacity to India provided they are willing to set up JVs with Indian companies.
The onslaught of Chinese mobile brands is virtually obliterating Indian brands, especially in terms of value. According to industry estimates based on excise and Custom duty trends, the value share of Indian brands (across smartphones and feature phones, operator phone sales - which is mostly Jio phones - and the value of phones smuggled into the country) has dropped to a mere 1.2 per cent in January-October 2021 compared to 25.4 per cent in the calendar year 2015. In the same period, the Chinese have established their domination, hitting a value share of 64.5 per cent, up from 17.8 per cent.
India would look to address their attacking woes against a plucky New Zealand for a place in the last-eight stage of the FIH Men's Hockey World Cup in Bhubaneswar on Sunday.
Foxconn means serious business in India. Its delegation to India was led by its Chairman Young Liu who met Prime Minister Narendra Modi.
Tech major Lenovo on Thursday said it is significantly ramping up its local manufacturing capabilities in India across product categories like PCs, notebooks and smartphones to meet the increasing customer demand. While the company did not disclose the investment being made, Lenovo said it is expanding in India across all business lines, including PC and smart devices, smart phones, infrastructure solutions, and especially in the newly established services and solutions group. Lenovo has expanded its in-house PC manufacturing plant in Puducherry to include a third manufacturing line, while it has started local manufacturing of its tablet computers in partnership with Wingtech Technology in Tirupati, Andhra Pradesh.
The new mantra was to align Apple's ambition with the government's, focusing on Modi's favourite themes of Make in India, employment generation and India as a high-tech export hub.
How dominant are Chinese firms in India's sub-Rs 10,000 mobile device market? The question has become relevant as the government has been thinking of reserving this price segment for domestic players who have not been able to battle the Chinese onslaught. However, telecom firms and others are concerned that such a move could stymie the effort to build affordable 5G phones in the sub-Rs 10,000 category.
In the late 1990s, Japanese electronics brand Aiwa tied up with a maverick entrepreneur, Kabir Mulchandani, to sell its consumer electronic products. Founder of Baron International, Mulchandani, all of 26 at that time, had already disrupted the television market through a tie-up with another Japanese player, Akai. With a strategy that relied on heavy discounts, exchange offers and freebies, Akai was selling in huge volumes.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The biggest jump in earnings and decline in P/E multiples has occurred with top companies in metals and mining, corporate banking, and the oil and gas sectors.
The government on Monday extended the period of production-linked incentive scheme for large-scale electronics manufacturing with a focus on mobile phones by a year until 2025-26. The base year of the scheme 2019-20 remains the same but the companies will have the option to choose their five-year period either from the base year or the year 2020-21 for calculation of the incentives under the scheme. "Now we have extended the tenure of the scheme from 2020-21 to 2025-26. "Earlier, it would have ended in 2024-25.
Donald Trump, the US President-elect, was unhappy with the cast's 'harassment' of Mike Pence and demanded an apology.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
With the spectrum auction now delayed till at least next May, the expected 5G orders for telecom equipment have not been sealed, the companies point out. Surajeet Das Gupta reports.
Ajit Mishra, vice president, research, Religare Broking, answers your stock market queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
British retail giant Dixons has signed a deal which will allow it to buy Russian electronics retailer Eldorado for $1.9 billion within the next six years.
Three stockmarket experts give their best picks for the New Year.
Kalinga Lancers displayed rampaging form as they decimated Punjab Warriors 7-0 to seal a semi-final berth in the fifth edition of the Hockey India League, in Chandigarh, on Saturday.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Becoming India's largest contract manufacturer of colour TVs isn't enough for Dixon Technologies. It now wants to revive the Weston brand.
Top companies across sectors -- automobile maker Maruti Suzuki, consumer electronics giant Samsung to IT giant Infosys -- have reopened factories and offices as India took its first steps towards resuming economic activity after weeks under a near-total coronavirus lockdown.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
IMD expects day temperatures to remain above-normal in select regions across the country between March and May 2021.
Apart from bringing new suppliers on board, Xiaomi is also hoping to take advantage of the newly launched PLI scheme that offers incentives on incremental production of smartphones with 2020 as the base year.
India dished out a pathetic performance to go down 0-2 to higher-ranked England and start their campaign on a losing note at the Hero Hockey World League Final in New Delhi on Friday.
Apple Inc's leading contract manufacturer, Taiwanese giant Wistron, has exceeded its investment obligation in India in just eight months, although the government's production-linked investment (PLI) scheme allowed it to complete the investment in four years. Between August 2020 and end March 2021, Wistron made an investment of Rs 1255 crore - 25 per cent more than the total investment it had committed to the government. Under the PLI scheme for mobile devices, the government had stipulated that each of the five participating global companies needed to invest Rs 250 crore every year for the first four years, totalling Rs 1,000 crore.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
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