The news of Dixon Technologies (India)'s tie-up with HP in addition to its existing Lenovo and Acer partnerships has led to a 5 per cent stock uptick since the start of the week. Dixon can target roughly 60 per cent of India's addressable IT hardware market with these contracts. Dixon targets Rs 48,000 crore in revenue from IT hardware under the PLI scheme over the next six years.
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.
According to the Department of Pharmaceuticals' annual report for 2024-25, India imported medical devices worth $8.1 billion, while exports stood at $3.7 billion in the financial year 2023-24 (FY24)
India's Foreign Secretary Vikram Misri has underscored the importance of not equating the victims and perpetrators of terror attacks, highlighting the need for global unity in combating terrorism. Speaking at Raisina Tokyo 2025, Misri expressed appreciation for Japan's support following the recent terror attack in Pahalgam, India. He also cautioned against the trend of some Western countries hyphenating India and Pakistan in the context of their recent military confrontation. Misri further outlined India's economic aspirations and its commitment to becoming a factor of stability in a turbulent world.
The funding environment in India for startups is improving this year if one were to go by Bain & Company estimates. Five private equity (PE) investors that come on top on the criterion of deal size collectively put in $9 billion in the first half of 2024, surpassing their outlay for last calendar year, when it was $8 billion. At the top of the list is Swedish firm EQT, which acquired US-based and listed Perficient at an enterprise value of $3 billion, the deal being done by the Indian wing of the company. It has also added to its list by putting in $500 million in WSO2, a "software as a service" company, increasing its tally to $3.5 billion.
For India to transform into a high-income country with a projected gross domestic product (GDP) of $23-35 trillion, will need a sustained annual growth of 8 per cent to 10 per cent. This will be powered by India's demographic dividend, technological innovation, and sectoral transformation, according to the "India@2047: Transforming India Into A Tech-Driven Economy" report by Bain & Company and Nasscom. By 2047, the services sector is expected to contribute 60 per cent of India's GDP, while manufacturing will account for 32 per cent, both playing a pivotal role in economic expansion.
The manufacturing of iPhone 14 in India within weeks of the global launch demonstrates the maturity of Apple's manufacturing capabilities in the country, according to Moody's Investors Service. Increasing volumes of locally-manufactured iPhones will also accelerate Apple's expansion strategy in India, Raj Joshi, Senior Vice President, Corporate Finance Group, Moody's said. The Indian smartphone market's large size and strong growth prospects as the country unveils its 5G network "make it an attractive long-term market for Apple", according to a note by Moody's.
Indian conglomerate Vedanta has earmarked $15 billion for foray into the electronic chip and display manufacturing space, and plans to scale up the investment to as much as $20 billion, a senior company official said. Vedanta's group firm Avanstrate, which will spearhead the semiconductor business, expects to roll out electronic chips and displays from Indian manufacturing plants by 2025, the official of the group's semiconductor arm said on Friday. "Semiconductor is a long-term business. We are looking at about $10 billion on display.
'We will start reaching out to researchers, academics, and experts on AI from top universities and companies from across the world.'
Their favourite alternatives: Malaysia, Vietnam and the Philippines. Note, India is missing from that list. And this is despite an attractive financial incentive scheme for OSAT players. The reason, said a senior executive of a US chip company who had a meeting in Taiwan just a few weeks ago, is that "they want more predictability in government policy because they plan to put in big money."
Trump has a major decision to take in coming days -- specifically, how to rescue Israel from the attritional war that lies ahead, points out Ambassador M K Bhadrakumar.
'Could the impending new crisis, vibe coding, similarly create not a disaster like what befell Indian handlooms during the Industrial Revolution but another opportunity like what the Y2K crisis created?' asks Ajit Balakrishnan.
The eighth Budget of Finance Minister Nirmala Sitharaman continued to focus on 'GYAN' (Garib, Youth, Annadata, Nari) to maintain a consistent and coherent strategy initiated over the years in pursuing the government's vision for Viksit Bharat. The approach, characterised by incremental yet impactful steps, aims to create a compounding effect over time.
India's economic growth forecast for 2025 has been revised downward to 6.3 per cent, and despite a projected moderation, the country remains one of the fastest-growing large economies, supported by resilient consumption and government spending, the United Nations has said.
Apprentices get at an average of Rs 10,000 to Rs 12,000 per month which can double after one year of on-the-job training.
If growth reverts to the pre-Covid level, a lot of people may have to temper their rosy optimism, points out Debashis Basu.
The heightened global uncertainty due to the US "reciprocal tariffs" on India may cause near-term corrections and market turbulence, but the long-term outlook remains constructive, market experts said on Thursday. The US has announced 27 per cent reciprocal tariffs on India, citing high import duties imposed by New Delhi on American goods.
'As the global economy undergoes significant transformations in 2025, India's ability to navigate the complexities of trade wars, financial realignments, and emerging blocs will be pivotal,' explain Harsh V Pant and Soumya Bhowmik.
Post-election capital expenditure (capex) has been weak at 2 per cent year-on-year (Y-o-Y) in M9FY25. The FY25 revised estimates (RE) indicate 7 per cent growth in FY25 against FY24, implying 21 per cent Y-o-Y growth in Q4FY25 government capex.
The Tata group is looking to make a foray into semiconductor (also known as chips) manufacturing and it has set up a business to seize the opportunity, Chairman N Chandrasekaran said on Monday. "At the Tata group, we have already pivoted into a number of new businesses like electronics manufacturing, 5G network equipment as well as semiconductors, in all probability," he said while speaking at the annual general meeting of the IMC Chamber of Commerce and Industry. Chandrasekaran said global supply chains, currently heavily dependent on China, would see a big change in a post-pandemic world with businesses shifting their reliance to other countries.
'We are not asking for incentives, but at least taxation can be aligned such that the rupee tax on consumers remains the same.'
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.
Prime Minister Narendra Modi, speaking at the India Mobile Congress in New Delhi on Friday reeled out statistics to show how India has turned into an exporter of mobile phones from being an importer and how big tech companies -- from Apple to Google -- are lining up to become manufacturers in the country. He said after the fastest rollout of 5G mobile telephony services, India will lead the world on 6G. Recalling the launch of 5G technology in the country on October 1, 2022, he remarked that within a year there are about 5 lakh 5G base stations across the country.
While the capital spending is being maintained at 3.1 per cent of the GDP, a little more would have boosted economic growth even further, suggests Rajiv Memani.
HAL, BEL and MDL feature on Sipri's list of the 100 largest arms producers in the world.
Clearly, Foxconn Chairman Young Liu and his team are looking to raise their game in India.
'Retail investors, who had not seen such a massive correction in the SMID universe since COVID-19, are witnessing something like this for the first time. Panic profit booking may continue.'
The usually busy Greater Noida expressway is empty except small groups of commuters that gather at its sidelines, seeking lift from every passing vehicle.
The stock of Dixon Technologies (India), the country's largest listed electronic manufacturing services (EMS) player, was up 6 per cent in 10 trading sessions, boosting the gains over the last three months to 21 per cent. The gains came following reports that Dixon will produce laptops in India in partnership with US and Chinese firms under the production-linked investment (PLI) scheme. It recently signed an agreement to make smartphones for Xiaomi India.
Hindustan Aeronautics (HAL) is one of the largest beneficiaries of the defence indigenisation programme. The aerospace Public Sector Undertaking (PSU) has just received a new tender for 97 Light Combat Aircraft (LCA) Tejas Mk1A, and it is already servicing an earlier order for 83 LCA aircraft. The new order is worth around Rs 65,000 crore with a 65 per cent indigenisation component, whereas the earlier order (February 21) was worth Rs 45,700 crore with 55 per cent indigenisation.
'The facility works on Apple's iPhone and everything is damaged -- CNC machines, computers and CCTVs worth crores.'
'Three manufacturing sectors can create jobs by the million: Apparel, food, and electronic assembly.' 'Let's talk to them and ask them what it would take to scale by a factor of ten,' suggests Naushad Forbes.
The Budget 2025-26 meets the expectations of fiscal consolidation, maintaining capital expenditure, and boosting consumption through tax cuts.
'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.'
From the rollback of customs duty on key electronic components to fast tracking delivery of goods imported from China, players are looking for incentives on several counts.
Siemens's share price has lost ground in the past few sessions following weak management commentary. The management indicated challenges to the growth outlook due to stagnant private capex and concerns over semiconductor shortages for digital industries. Government infra-spending may regain momentum from January 2025.
The ministry of defence in September 2021 signed a Rs 21,935-crore contract with Airbus Defense and Space SA, Spain for supply of 56 aircraft.
Crisil Ratings on Wednesday projected India's GDP growth at 6.8 per cent in the next fiscal and said the country will become an upper middle-income nation by 2031 with the economy doubling to $7 trillion. In its India Outlook report, Crisil said the Indian economy will take support from domestic structural reforms and cyclical levers and can retain -- perhaps even improve -- its growth prospects to become the third largest economy by 2031. "After a better-than-expected 7.6 per cent this fiscal, India's real GDP growth will likely moderate to 6.8 per cent in fiscal 2025," said the Crisil India Outlook report.
'Why has Maharashtra slipped up over the past couple of decades?' 'Not only is this question critical for residents of the state, but given that it accounts for 14% of India's GDP, a faster-growing Maharashtra implies a faster-growing India as well, point out Shishir Gupta and Rishita Sachdeva.
Although the company has shown willingness to talk to its workers and accept their key demands, it is CITU that is causing a roadblock to a solution.
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