Of the Rs 1.97 trillion that the government intends to spend on all 14 production-linked incentive (PLI) schemes, around Rs 41,000 crore remains unutilised as of now, according to a senior government official. This means that 80 per cent of the total allocated amount, or Rs 1.56 trillion, will be used to pay incentives to companies eligible to claim benefits over the next few years. The unutilised amount/savings result from undersubscription, lukewarm responses in the case of schemes such as textile, as well as a reduction in the allocation of schemes.
Sources in the military establishment also said the present global scenario "necessitates a flexible and adaptive approach" to tackle defence and national security challenges.
India will never provide company or enterprise-specific incentives in the electric vehicle sector, a top government official said on Friday, amid a push from American electric carmaker Tesla for special sops to set up its factory in the country. If the government has to consider providing incentives then it will only be for all EV makers and entrants who want to come to India, the official said. The official added that inter-ministerial discussions have happened on the customs duty concession demand of the US-based electric car maker Tesla, but "we never" came to any conclusion on those.
Layoffs, corporate restructuring, governance and most importantly profitability: The 14 Indian startups that plan IPOs this year are pulling out all the stops to ensure successful market debuts.
Nearly 40 per cent of IITians sitting for placements in 2024 are yet to receive job offers, showing a doubling of the 'unplaced' in the last three years from 19 per cent in 2021-2022 to 38 per cent in 2023-2024.
In a late night statement, the White House said completion of these sales would increase bilateral defence trade to nearly USD 19 billion, supporting thousands of US jobs.
This was the first major request of arms sale purchase by India after Obama designated New Delhi as a major 'strategic defence partner'.
French aerospace major Thales Group is eyeing major expansion in India. The group has started planning to set up a maintenance, repair, and overhaul (MRO) organisation in India to support Indian airlines - many of which are its customers for avionics support. "We are looking to set up an MRO, so that they don't have to travel to West Asia or Singapore. "Final decision is yet to be taken, but this is a clear intent showing the growth potential in India that we are looking to set up a sub-centre here," said Yannick Assouad, executive vice-president, avionics at Thales, who was on her maiden visit to the group's India office at Bengaluru since taking charge.
'Having India as a credible deterrent vis-a-vis Chinese ambitions in the Indian Ocean and South Asian region is a desirable short-term outcome.'
The government on Tuesday proposed to extend the period of incorporation of eligible startups by one more year till March 31, 2023 for providing tax incentives, a move aimed at encouraging budding entrepreneurs. Finance Minister Nirmala Sitharaman in her Budget speech said startups have emerged as drivers of growth for the economy and over the past few years, the country has seen a manifold increase in successful startups. Eligible startups established before March 31, 2022 had been provided a tax incentive for three consecutive years out of ten years from incorporation.
In all likelihood, the next conventional Chinese attack on India would be preceded by a massive cyber attack designed to cripple Indian networks and interfere with our disaster-relief programmes.
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
According to police, Lakhwinder Singh was nabbed from Sarai Kale Khan on September 24, and Gurjeet was apprehended near ISBT Kashmiri Gate on October 13.
The two-day mega exercise is involving almost all its frontline fighter jets and other assets deployed in the region, people familiar with the drill said.
Investigators scanned CCTV footage, including from cameras installed on the boundary walls of the airport, in an effort to determine from where the drones came. However, all the CCTV cameras focused on the roadside, the officials said.
The search for the missing person started early morning on Wednesday with the help of divers and four drones, rescuers have given up hope of finding the missing person alive, MyRepublica newspaper reported.
Many big countries are facing difficulties in doing so for their citizens, Modi said.
On Thursday, the prime minister is scheduled to hold one-on-one meetings with top five American CEOs. Two of them are Indian Americans -- Shantanu Narayen from Adobe and Vivek Lall from General Atomics. The three others are Cristiano E Amon from Qualcomm, Mark Widmar from First Solar, and Stephen A Schwarzman from Blackstone.
This year's edition, three years lost to the pandemic and scheduling, wore a distinctive shade of green, and, as would befit an era of technology shift from internal combustion engines to electric motors, had a clutch of high-technology exhibits and concepts. But the excitement of the expo's heyday was missing.
'Unless India ups the ante, Beijing will continue to believe its transgressions are cost free and will feel encouraged to do more of the same.'
In a post on X, Modi said, "Happy to have welcomed @POTUS @JoeBiden to 7, Lok Kalyan Marg. Our meeting was very productive."
Investors have gained Rs 335,770.71 crore in two days of market rally, with the Sensex scaling its fresh lifetime peak on Wednesday. Rising for the second day, the 30-share BSE benchmark jumped 476.11 points or 0.82 per cent to close at its new all-time high of 58,723.20. During the day, it gained 529.97 points to 58,777.06, its intra-day record.
The constitution of both countries begins with the "three words -- We the People -- as President Biden just mentioned", said Modi, who is on his first state visit to the US.
The Indian troops guarding the nearly 3,500-km Line of Actual Control (LAC) maintained an assertive approach in sync with the broader national security doctrine and procured a variety of military platforms and weapons to enhance their combat capabilities.
Prime Minister Narendra Modi on Friday handed over to the armed forces indigenously-developed light combat helicopters, unmanned aerial vehicles and electronic warfare systems for the warships, in reflection of India's focus to boost its domestic defence industry.
The move towards indigenisation of defence procurement creates new opportunities for India's military industrial sector. The Government of India (GoI) has so far released five lists of items for positive indigenisation - these should be manufactured in India, rather than imported. Each item on these lists represents an opportunity for some local firm.
He termed his grandmother and former prime minister Indira Gandhi as "the love of my life and my second mother".
Aircraft debris and some personal belongings have been found at the air crash site in Tengxian County of Wuzhou City, but no survivors, state-run CGTN reported on Tuesday.
As the FM said, this is a Budget that lays the foundation for the next 25 years, observes Kumar Mangalam Birla.
More than 100 BrahMos missiles are planned to be built in the next three years.
United States Defence Secretary Lloyd J Austin arrived in India on Friday on a three-day visit, aimed at further boosting bilateral defence and security ties in the wake of China's growing military assertiveness in the region including the Indo-Pacific.
It came as a surprise to all stakeholders - competing telecom companies (telcos), most analysts and even the government's internal projections on revenues from the 5G auctions. Reliance Jio disrupted all calculations by paying a stiff Rs 40,000 crore to buy 10 MHz of spectrum in the 700-MHz band, globally considered a key band for efficient 5G service coverage, along with the default 3.5 GHz band and the ultra-high speed and low-latency millimetre band of 26 GHz band. So what made Jio pay almost 45 per cent of its total spend in this auction for the 700 MHz band - much more than what it rustled up even for the 3.5 GHz band?
The papers noted that the 5G network is built on easily accessible and open Internet protocols and it inherits all the vulnerabilities of previous generations which make it vulnerable to cyber-attacks and compromising the security of the entire system.
Prime Minister Narendra Modi began his engagements in the US on Thursday by meeting with leading American CEOs from five different key sectors and highlighted the economic opportunities in India.
NTPC was the top gainer in the Sensex pack, jumping over 7 per cent, followed by Bharti Airtel, Titan, HCL Tech, SBI, PowerGrid, TCS and IndusInd Bank. NSE Nifty climbed 139.45 points to its new closing high of 17,519.45.
'There is a vision in the Budget, and the vision is to take India from a largely agrarian, rural economy into a fast-track digitalised economy.'
He also said that earlier roadblocks were created in the implementation of welfare schemes meant for the poor, but now there are no such hurdles and the benefits of these schemes are reaching the needy.
Historically, India has never been expansionist in its outlook and her approach has always been of peaceful coexistence and one designed to deter the forces of terror and disruption.
The Army is set to procure a fleet of light tanks for deployment in high-altitude areas in eastern Ladakh under 'Project Zorawar' to bolster its overall firepower and operational prowess to deal with any eventualities.
