The government on Wednesday approved a Rs 12,195 crore production-linked incentive (PLI) scheme for telecom gear manufacturing in India, a move that will position the nation as a global powerhouse for production of such equipment ahead of 5G roll-outs. The PLI scheme for telecom gear manufacturing will be operational from April 1, 2021.
Holi was celebrated with pomp and splendor across India on Friday, with people soaking in the festivities by smearing 'gulaal' on each other and exchanging greetings and sweets. Homes and streets wore a colourful look as the revellers splashed colours and feasted on traditional delicacies. Public transport did not ply in the morning in most major cities while metro services started functioning from noon. As Holi coincided with the second Friday prayers during the holy Islamic month of Ramzan, security -- including increased patrolling and picketing -- was beefed up in several states. In Delhi, more than 25,000 security personnel were deployed. Police closely monitored about 300 sensitive areas with CCTV cameras and drones.
Despite the robust growth in this country, Apple's India share in its overall global sales remained modest -- constituting 1.5 per cent of its overall turnover of $389 billion in FY23.
International Monetary Fund (IMF) Deputy Managing Director (MD) Gita Gopinath has condemned the "terrible and disturbing" incident of rape and murder of a trainee doctor in Kolkata. "Personally, it is terrible to have any event of this kind. It is disturbing," she told Business Standard in New Delhi.
The death toll in the BEST bus accident in Mumbai has risen to seven, officials on Tuesday said as experts inspected the wet leased vehicle to ascertain if it had any mechanical fault.
Both new and completed project values as of December 2024 remain below pre-pandemic levels seen in 2019.
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.
'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.
As the Union government explores ways to restrict import of laptops and other electronic devices starting with a 5 per cent reduction from the current level, it is working to ensure that there's no supply disruption in India even if an import cap is introduced, it is learnt. The caveat assumes significance in the context of the government's announcement of its plan in August 2023 to issue licences for import of select IT hardware products to reduce the country's dependence on China.
A task force set up by the Ministry of Electronics and Information Technology (Meity) for transforming India into an "electronic and semiconductor products" nation is on the verge of finalising its report, which is likely to recommend an allocation of Rs 44,000 crore between 2024 and 2030 to support homegrown companies in their quest to develop products and build global brands. The task force's recommendations include significant incentives: Rs 15,000 crore dedicated to electronic products (systems), Rs 11,000 crore for semiconductor products, and Rs 18,000 crore for various other incentives such as talent development, common infrastructure, logistics, and technology & IP (intellectual property) acquisition, a member of the panel revealed.
Residents of North India battle freezing conditions.
'International cricket is incomplete without Pakistan.'
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.
As Modi's government embarks on its third term, apart from ensuring these schemes boost India's green mobility, addressing bottlenecks like battery swapping and meeting PLI deadlines are likely to be the government's major tasks.
'...how do they consume and contribute to the GDP?'
The city's 24-hour Air Quality Index (AQI), recorded at 4 pm daily, stood at 417, making it the worst in the country. On Friday, the AQI level was 396.
Bajaj Auto reported steady results in Q1FY25, with revenue surging 16 per cent year-on-year (Y-o-Y), operating profit registering a growth of 24 per cent Y-o-Y, and margins swelling 20.2 per cent. The profitability was aided by 50 basis points (bps) on the accrual of PLI benefits. The domestic prospects for two-wheelers are healthy, though the response to the newly launched CNG motorcycle is a key monitorable.
Royal Enfield is planning to introduce its electric bike initially in developed markets such as Europe and the US where it anticipates better traction for the premium product, a top company executive said on Tuesday. Royal Enfield, a division of Eicher Motors, forayed into electric bike space on Monday with the unveiling of its first model under the all-new Flying Flea brand.
'The pollution has increased. We are facing breathing problems and irritation in the eyes'
Curbs under Stage III include a ban on non-essential construction and demolition, closure of stone crushers and mining activities in Delhi-National Capital Region (NCR).
A BEST electric bus, traveling at a speed of 46 kmph, collided with a crowd in Kurla, Mumbai, killing seven people and injuring 42 others. The driver, Sanjay More, has been arrested for reckless driving. The accident has raised concerns about speed limits and training for drivers of automatic transmission buses.
Having a left-arm quick of Singh's calibre gives the bowling attack the much-needed heft and variety. It's like having another bow in Team India's quiver, notes Vishal Menon.
Delhi's air quality plummeted to alarming levels on Tuesday after 24 days, with many areas witnessing a significant spike in pollution despite the strictest measures, including a ban on construction activities and the entry of trucks into the city, coming into force.
Embark on a romantic escapade without worrying about the budget!
Foreign direct investment (FDI) inflows into India have crossed the $1 trillion milestone in the April 2000-September 2024 period, firmly establishing the country's reputation as a safe and key investment destination globally. According to data from the Department for Promotion of Industry and Internal Trade (DPIIT), the cumulative amount of FDI, including equity, reinvested earnings and other capital, stood at $1,033.40 billion during the said period.
'I am optimistic about the Budget because of the fiscal discipline the government has committed to.'
A plea has been filed in the Supreme Court seeking a direction to the Centre to constitute a committee monitored by a retired apex court judge to enquire and investigate into the Hindenburg Research report which made a slew of allegations against the business conglomerate led by industrialist Gautam Adani. The fresh public interest litigation (PIL), filed by advocate Vishal Tiwari, has also sought directions to set up a special committee to oversee the sanction policy for loans of over Rs 500 crore given to big corporates. Last week, another PIL was filed in the apex court seeking prosecution of short seller Nathan Anderson of US-based firm Hindenburg Research and his associates in India and the US for allegedly exploiting innocent investors and the "artificial crashing" of Adani Group's stock value in the market.
Do we have enough trained oncologists and medical professionals in India to man these over 4,500 beds in the public sector?
'When there are no good roads and no buses plying to villages, your spending on development is skewed.'
A list of lesser-travelled destinations in India that you must explore this year!
'This is the first case in which we saw use of Starlink by smugglers.'
Smartphones have been a key success story of the government's production-linked incentive scheme, helping India become the second-largest mobile phone manufacturing country, after China.
Technology giant Apple Inc has pushed the pedal on exporting iPhones from India by racking up exports valued at over $2 billion in the first two months of the current financial year (FY25), according to the data provided by vendors to the government. This accounts for 81 per cent of the country's total production of iPhones worth $2.6 billion. In May, Apple repeated its performance of April and once again crossed $1 billion of iPhone exports.
The impact of Trump's announcement of increasing import tariffs will have negligible benefit for India not because of companies trying to shift from China to other countries or their supply chains being affected due to their Chinese operations but because of our faulty policies, explains Mudit Jain.
At Srinagar's famed Lal Chowk, Rediff.com's Syed Firdaus Ashraf meets a computer engineer who drives an auto for a living and discovers that Kashmiris are more interested in finding jobs than discussing the assembly election.
For Yogi Adityanath the successful management of the fair is a crucial part of building 'Brand UP' and making the state a $1 trillion economy.
The city's 24-hour Air Quality Index, recorded at 4 pm every day, stood at 418, up from 334 the previous day, and it may trigger stringent restrictions under the third stage of the graded response action plan to mitigate hazardous conditions.
The strike by the Maharashtra State Road Transport Corporation (MSRTC) employees for salary hike and other demands entered the second day on Wednesday, which continued to cripple the services and cause inconvenience to lakhs of passengers, especially ahead of the Ganesh festival.
In September, JSW MG Motor India, the newly minted joint venture between SAIC Motor, which is present in 100 countries, and Indian conglomerate JSW Group, launched the Windsor, an electric car that introduced battery as a service (BaaS).
The Budget for 2024-25 should focus on employment generation, besides promoting the manufacturing sector, economists attending the pre-Budget consultation meeting with Finance Minister Nirmala Sitharaman here on Wednesday said. The meeting was attended by National Co-convenor Swadeshi Jagran Manch Ashwani Mahajan, Director and Chief Executive of the Institute for Studies in Industrial Development (ISID) Nagesh Kumar, and TCA Anant among others.
