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.
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
The Tata group is close to acquiring Wistron's $600-million factory in southern Karnataka by next month, according to reports. The Wistron unit makes iPhones for the Cupertino-based company. Sources said that Wistron will continue to provide the Tatas technical know-how on assembling the phone and keep back some personnel during the transition process.
India Inc has couter attacked claims by US presidential candidates about the drain of jobs from US to India.
US-based electric vehicle maker Tesla is looking to source components worth around $1.9 billion this year against $1 billion last year, Commerce and Industry Minister Piyush Goyal said on Wednesday. The minister said that going forward, demand for electric vehicles will increase and it will help in pushing the growth of the sector. "Tesla already last year bought one billion dollars of components from I think all of you sitting here.... I have the list of companies who supply to Tesla.
India's stiff labour laws were one key issue that Apple CEO Tim Cook discussed with Prime Minister Modi on his recent visit.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
India's captains of industry said they were disappointed at the exit of Reserve Bank of India Governor Raghuram Rajan.
The two apps had drawn millions of downloads in India as border tensions between India and China surged.
Across the country, companies have stepped up their act to contain the crisis. IT and other new economy firms seem to have taken a lead.
At a time when Apple delivered its flagship line of new products on schedule despite battling a year of supply-chain turmoil, India could account for at least 12 per cent of the free-on-board (FoB) value of Apple Inc's iPhones manufactured by its vendors globally by 2025-26 (FY26). The number represents a significant shift for the Cupertino-based company's over-dependence on China, where 95 per cent of its phones are still being made. India's growing importance can be seen from the fact that in 2021-22 (FY22) - the first year of the production-linked incentive (PLI) scheme (the scheme was extended by a year due to the pandemic) - the FoB value of iPhones made in the country was $1.75 billion, translating into less than 2 per cent of the global value.
Apple is hoping to assemble in India 25 per cent of all iPhones produced globally to reduce its heavy dependence on China.
The banking regulator was uncomfortable with the runaway pace at which consumer credit was growing.
Traders' body CAIT on Wednesday wrote to Reliance Industries chief Mukesh Ambani and 50 other captains of India Inc, including Ratan Tata, Azim Premji, Gautam Adani, Ajay Piramal, Anand Mahindra and Sunil Bharti Mittal seeking their support in its campaign to boycott Chinese goods. The Confederation of All India Traders (CAIT) also urged Kumar Mangalam Birla, Vikram Kirloskar, Rahul Bajaj, Shiv Nadar, Pallonji Mistry, Uday Kotak, Nusli Wadia, Shashi Ruia, Madhukar Parekh, Harsh Mariwala, Satish Reddy and Pankaj Patel, among other prominent industrialists, to join its 'Bhartiya Samaan-Humaara Abhimaan' campaign.
India has more service companies, such as IT and healthcaresectors, which always trade at a premium to the overall market.
The message is clear: The 60-year-old wise uncles need to handhold the 40-year-old entrepreneurs when, obsessed with ambition and greed for growth, they become a victim of hubris, points out Tamal Bandyopadhyay.
China's largest search engine is developing prototype digital eyewear similar to Google Glass.
They are both electronic manufacturing services (EMS) companies, also known as contract manufacturers. One is Taiwan's Foxconn group, the undisputed global number one in this business with revenues of $223 billion. The other is Dixon Technologies, the biggest domestic player with revenues of over Rs 10,500 crore.
Data with the Department of Industrial Policy and Promotion reveals that between April 2005 and July 2008, Japan Inc pumped in 50 per cent of the total investments inflows between April 2000 and July 2008. In fact, between June and October this year, Japanese companies said they would pump in $8 billion. Experts say this is not a knee-jerk reaction by the Japanese, who are known to be very meticulous with their investments.
The smartphone category as a whole was expected to spend around Rs 1,000 crore on marketing and promotional activities over the next six months, even as India unlocks gradually, said media industry experts. This spending is expected to come down, as firms temper their launches.
Foxconn means serious business in India. Its delegation to India was led by its Chairman Young Liu who met Prime Minister Narendra Modi.
Chinese Internet company Baidu Inc won the dismissal of a US lawsuit by pro-democracy activists who complained that Baidu illegally suppressed political speech on China's most widely used Internet search engine.
Firm had opened India office in 2011, its first facility outside China.
China on Tuesday told Google Inc that it will not make an 'exception' for it and asked the US internet giant to observe Chinese laws and shoulder its 'social responsibilities' if the company had to do business in the world's most populous nation.
'Indian equity valuations, although not very expensive, are not cheap either.'
Local residents say until about two months ago, this board carried the name of Motorola, which once had a manufacturing unit in Sriperumbudur, 40-odd km from Chennai in Tamil Nadu. In May 2020, Luxshare Precision Industry Co, a China-headquartered AirPods and iPhone assembler, had entered into a deal with the Tamil Nadu government to take over the defunct Motorola unit.
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
The buzz that Google Inc may move back to the Chinese mainland became louder this week.
Richard Parsons, Time Warner CEO, says India is a better market than China for immediate growth because of its stronger rule of law and less censorship.
The commerce ministry has endorsed India Inc's stand against signing a free trade agreement (FTA) with China until it becomes a market economy that follows transparent pricing of manufactured goods and services.
At least 39 Chinese companies and individuals have attempted to register the names iPhone or iPad as trademarks.
Bowing to pressure mounted by Chinese official media, Apple Inc CEO Tim Cook has apologised for company's warranty policies in China, saying the company is sorry for any "concern or misunderstanding" in the country.
This was even as the country's economy grew by 7.3%.
That's because India does not have a serious venture capital industry with an appetite for risk, observes T N Ninan.
Apple Inc's new smartphone iPhone 5 sold more than two million handsets in China in the first three days after the launch, setting a new record in its second largest market.
The rupee has depreciated by 0.95 per cent in two days.
Tharoor said the Congress should stand up for its foundational principles.
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