The Department for Promotion of Industry and Internal Trade (DPIIT) has proposed to raise the minimum local content under public procurement order in government contracts. But several local suppliers and multinational companies (MNCs) are saying such a steep target is not attainable. Class-I suppliers, whose goods, services or works offered for procurement has local content equal to or more than 50 per cent may see it hiked to 70 per cent, while it may go up to 50 per cent from 20 per cent for Class-II suppliers.
Corporate India is starting to step up its capital expenditure plans amid government incentives and signs of rising demand, company executives and analysts have indicated. This coincides with the Reserve Bank of India (RBI) recently citing a double-digit growth in private capital expenditure. Healthy balance sheets of banks and corporates, along with increasing capacity utilisation and improving business sentiment, are contributing to a favourable environment for sustained growth in private sector investments, the RBI said in its policy last week.
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.
'There is a need for a national task force with a singular objective to increase automotive exports.'
Enterprising creator, Ishwar Deen who poured in over two-and-a-half lakh rupees into his labour of love was ordered to dismantle the rotor that he had welded on to the roof of an old car to make it resemble a chopper.
Making the Pixel 8 in India will not necessarily bring the price down -- witness iPhones made in India that are more expensive than those in the US and Dubai.
Maharashtra transport commissioner Vivek Bhimanwar told PTI that the Porsche car was imported in March by a dealer in Bengaluru and from there it was sent to Maharashtra on a temporary registration.
Attempts to resume Manipur State Transport (MST) services on Saturday suffered a setback after buses heading from capital Imphal to the hill districts could not go beyond Imphal valley.
Stimac has prioritised qualification to the third round and secure a direct entry into the 2027 AFC Asian Cup.
Rasna, which became a household name in the 80s and 90s and is still ruling the pre-mix market, is now looking at overseas franchise arrangements for manufacturing abroad. As part of the arrangement, the franchisee would invest in the plant and machinery and it would also take care of day-to-day operations. Rasna would supply the pre-mix, technical know-how and some financial support.
The trend of players plying their trade in overseas leagues right after their retirement from international cricket or IPL has irked the board.
Siemens delivered a strong margin performance and also reported high other income to beat consensus in the January-March quarter (Q2) of FY24 (the company's year-end is September 30). In addition, it has opted to demerge the energy vertical with a 1:1 award of shares in the newly demerged entity which will be listed by the end of this year (CY25).
ABB India's March quarter results (Q1CY24) were led by strong margin performance. Revenue was, however, largely in line with estimates at Rs 3,080 crore (up 28 per cent Y-o-Y and up 12 per cent Q-o-Q). The growth was across electrification (30 per cent Y-o-Y), process automation (73 per cent Y-o-Y) and robotics & motion (8 per cent Y-o-Y).
Batters likely to set the World Cup alight with their big striking...
Lovlina Borgohain is aware that fierce competition awaits her at the Paris Olympics but the ace Indian boxer is quietly confident of snaring a second successive Games medal, having found considerable success in her new category, which is also closer to her natural body weight.
The youth -- their dreams of government jobs unfulfilled -- are voicing their frustration.
If Tesla comes in, India's position as a manufacturing hub will rise many notches, as it will become only the second country, after China, to have both Apple as well as Tesla.
Former Pakistan captain Misbah-ul-Haq believes his country will find it difficult to edge past India when the two sides clash in next month's T20 World Cup as there seems to be a "mental block" when it comes to playing the arch-rivals in ICC events.
The government's ambitious vision document that aims at achieving electronics manufacturing with a value of $300 billion by FY26 (including exports of $105-130 billion) could end up far lower than the target, according to a reality check this month. The reality check came from the Indian Cellular and Electronics Association (ICEA), which partnered with the government in preparing the document. The members of the ICEA are mobile and electronics companies, and its assessment, based on current trends, indicates that the total electronics production in FY26 will be around $225 billion.
'Modi knows the people here are opposed to this project, but he is using the might of government to push this port down our throats.'
'There was a strong undercurrent of deprivation, and also frustration against misuse of power and authority.' 'This election was an opportunity for the manifestation of this discontentment.'
Indian Navy on Wednesday said its ships and aircraft remain 'mission deployed' for maintaining enhanced surveillance and undertaking maritime security operations.
Based on discussions with stakeholders, the ministry is proposing to allocate Rs 26,400 crore for FAME-III subsidy alone with electric two wheelers getting around Rs 8,158 crore, electric buses Rs 9,600 crore and electric three-wheelers Rs 4,100 crore, according to sources in the know. Along with some other components like setting up an innovation fund and money for testing , the total allocation could cross Rs 33,000 crore, estimates suggest.
Mornings in many north Indian cities are enveloped by fog and smog, with poor visibility.
The statement comes after political leaders, including former chief ministers Omar Abdullah and Mehbooba Mufti, claimed they were put under house arrest.
Apple Inc has requested the ministry of electronics and information technology (MeitY) to give it 18 to 24 months' exemption to comply with the European Union (EU) regulation of putting an USB charging port in all its older smartphones, mainly iPhone 13 and iPhone 14, which are assembled, exported and also sold in the domestic market. Apple's stance is different from that of Samsung, which has been pushing for an immediate implementation of the EU regulation. All smartphones by the South Korean giant already comply with the EU rules.
'I never thought we would get him for that price because of his performance being tremendous in the last couple of years in T20Is and ODIs for Australia.'
'Companies like Tesla and others have been given a long rope in India.'
Ellyse Perry put up a sizzling display with both bat and ball to power Royal Challengers Bangalore into the Women's Premier League knockouts.
Arjun treated his followers with a shirtless mirror selfie, proudly flaunting his well-toned six-pack abs.
Amir, Imad recalled to Pakistan squad for NZ T20I series
The BSA Gold Star is launched....Ola Enters e-motorbikes Biz... Bajaj, TVS To Enter e2Ws Market...
Apple is hoping to assemble in India 25 per cent of all iPhones produced globally to reduce its heavy dependence on China.
Shikaras on Dal Lake with cloud- covered mountains for company.
In the run-up to Apple CEO Tim Cook's visit to India, government officials are finalising the talk points with the Cupertino-headquartered tech major. Officials said that the government would like Apple to "deepen" the company's engagement in the manufacturing and assembly of iPhones in the country and not limit itself only to the minimum commitments made under the production-linked incentive (PLI) scheme for mobile devices. The conversations between the two sides are likely to focus on that.
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.
Seamers Harshal Patel and Shardul Thakur along with veteran pacer Umesh Yadav are the three Indian capped players who are in the highest base price bracket of Rs 2 crore.
Protests raging in Assam against lynching of rape accused Farid Khan in Dimapur in Nagaland on March 5
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."
