Pakistan has assured the US administration that American military hardware provided to it will be used solely for defensive purposes, a top US official said on Friday.
In a move to deepen manufacturing in electronics in India, the Centre is targeting 35-40 per cent value-addition through the yet-to-be launched production-linked incentive (PLI) scheme for electronics components, sources in the government
There's a study which says our hardware imports will be $50 billion in 2010, which is roughly the same as the projected software exports - so it is critical to develop critical mass in production here, says Ajai Chowdhry, CEO, HCL Infosystems.
As many as 32 companies, including global biggies like HP, Dell and Lenovo, have applied under the Production Linked Incentive scheme for IT hardware, Union Minister Ashwini Vaishnaw said on Wednesday. The expected incremental production under the scheme is pegged at Rs 3.35 lakh crore, said Vaishnaw, Minister for Electronics and IT.
The government on Thursday tweaked curbs on imports of laptops and computers as it allowed importers to bring in shipments of IT hardware from overseas on a mere 'authorisation' upon detailing quantity and value. The new 'import management system' is aimed at monitoring shipments of laptops, tablets and computers into the country without hurting market supply or creating a cumbersome licensing regime. The announcement is likely to provide relief to companies in the IT hardware segment in India as they had flagged concerns over the imposition of a strict licensing regime for importers.
The total allocation to the defence sector is 12.9 per cent of the total budget of the government of India for the financial year 2024-25.
Infosys co-founder Narayana Murthy has singled out "erroneous policies" pursued by successive governments at the Centre.
Wipro chairman Azim Premji on Friday said a nation cannot be self-sufficient in strategic sectors like defence, nuclear energy and space technologies without domestic capabilities in hardware development
The company has been manufacturing personal computers, both desktops and laptops, netbooks and tablet PCs.
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.
'It was the early days of my 5th standard school vacation, and my mother asked me, 'Robotics classes or swimming classes for the weekends?' I chose robotics classes because technology fascinated me.'
Hardware exports are likely to emerge as a key area for growth in the future. This was announced by commerce secretary Dipak Chatterjee in New Delhi on Monday.
The raids were carried out in Punjab, Haryana, Rajasthan, Uttar Pradesh, Delhi and the Union Territory of Chandigarh by the NIA as part of a mega operation that began early Thursday morning, a spokesperson of the premier investigating agency said.
This is the second of the series conducted at Aeronautical Test Range, Chitradurga, in Karnataka at 7.10 am.
Stocks of Hindustan Petroleum Corporation Limited (HPCL), Bharat Petroleum Corporation Limited (BPCL) and Indian Oil Corporation Limited (IOCL) have more headroom left despite the sharp run in the last few weeks, suggests a recent report from Morgan Stanley. Stocks of these oil refining and marketing companies (OMCs), it believes, are seeing multiples re-rate as investors reassess long-term growth prospects. "IOCL trades at one year forward P/BV of 1.2x, 19 per cent below +1 standard deviation (SD); BPCL trades at one year forward P/BV of 1.5x, near historical averages; HPCL trades at one year forward P/BV of 1.5x, near +1SD," Morgan Stanley said.
Foreign direct investment (FDI) equity inflows in India declined 24 per cent to $20.48 billion in April-September 2023, dragged by lower inflows in computer hardware and software, telecom, auto and pharma, according to government data. FDI inflows stood at $26.91 billion during the first six months of the last fiscal. Inflows during January-March 2023 also contracted 40.55 per cent to $9.28 billion.
Regretting absence of a comprehensive national policy for IT hardware manufacturing industry, a Parliamentary panel has recommended "urgent" finalisation of such a policy in order to fully exploit its vast potential.
Whether the Indian army gets military hardware from defence PSUs or from foreign companies is not a matter of much concern, but it must be received in time, Minister of State for Defence Mallipudi Mangapati Pallam Raju tells Saubhadro Chatterji.
In a bid to promote India as a hardware destination, a high-powered delegation headed by the IT secretary K K Jaswal will visit the United States and European countries to make board-level presentations.
Electronic hardware is going to be the next big thing following the success story of software sector, which now contributes eight per cent to the gross domestic product, besides providing jobs to 2.9 million people.
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 our survey we found that there was a problem in the agricultural sector and drones could solve the problem.'
With the 126 fighter deal in the pipeline, India and France on Friday set out on a course of long-term strategic cooperation with the latter offering to move on from client-seller relationship to joint production of military hardware which could be exported to other countries.
Forget comic chops, you'll not find an ounce of camaraderie between Akshay Kumar and Tiger Shroff as they go about firing ammo and flexing abs at a zombie-like army for nearly three excruciating hours of this noisy drivel, observes Sukanya Verma.
Here are the highlights of the economic agenda unveiled by President A P J Abdul Kalam at the joint sitting of Parliament on Thursday.
'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.'
Nineteen per cent of global fund managers remain bullish on India, suggests the latest BofA Asia Fund Manager Survey (FMS). A total of 249 panelists with $656 billion worth of assets under management (AUM) participated in the survey between February 2 and 8, BofA said. Two hundred and nine participants with $568 billion AUM responded to the global FMS questions, while 145 participants with $331 billion in AUM responded to the regional fund manager survey (FMS) questions, BofA said.
The move took place late last month and involved hardware being moved simultaneously by road and rail from across the entire region.
The domestic technology industry's revenue is projected to grow 3.8 per cent to $254 billion this fiscal, industry body Nasscom said on Friday and highlighted creation of 60,000 more jobs during this period. The industry had clocked a revenue of $244.6 billion in the same period last year, according to Nasscom's annual strategic review report. Excluding hardware, the revenue is expected to touch $199 billion, a growth of 3.3 per cent over FY23, as per the report.
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.
Pirojsha Godrej, 43, patriarch Adi Godrej's son, is set to take over as chairman of the Godrej Industries Group from 2026 whol Nyrika Holkar, Smita Godrej Crishna's 42-year-old daughter, has emerged as the face of the Godrej Enterprises Group.
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