Government should provide a level playing field to domestic manufacturers by making customs duty @ 10 per cent, CVD @ NIL and SAD @ 4 per cent on all categories of power projects including power generation, transmission and distribution projects in line with other infrastructure projects like roads, airports, ports, railways, transport terminals, bridges, tunnels and dams.
'In the new coalition government, India's reform agenda may prioritise job creation and factor market reforms.'
Reliance Industries Ltd invested over $125 billion in the last ten years as it undertook massive expansion in hydrocarbon and telecom businesses, a report said, estimating that the conglomerate's investments in the next three years would be in relatively less capex-heavy retail and upstream new energy. Reliance is coming out of a series of long and intensive capex cycles (hydrocarbons and telecom).
It has become common for our trade pundits to make emphatic claims that India is set to become the next major global manufacturing hub.
Recently, the government relaxed foreign direct investment (FDI) norms for the space sector by allowing 100 per cent FDI in manufacture of components, systems or sub-systems for satellites, ground segments, and user segments. It also permitted 74 per cent FDI in satellite manufacturing and operation as well as satellite data products and 49 per cent in development of launch vehicles and spaceports. Following this, stocks of related companies saw an uptick on the bourses.
On May 28, following the bomb threat, which later turned out to be hoax, all the passengers were evacuated through emergency slides from the aircraft at the Delhi airport.
In terms of industries, 22 out of 23 industry groups in the manufacturing sector showed positive growth during July 2018.
The domestic consumer electronics and television makers on Tuesday asked the government to bring down the tax on the industry on par with other countries
As India's first solar exploration satellite reached space, four Kerala public sector undertakings, including Keltron, have reason to be delighted as they too have contributed to this achievement by the country. Various products indigenously developed and manufactured by the four PSUs - Keltron, Steel and Industrial Forgings Limited (SIFL), Travancore Cochin Chemicals (TCC) and Kerala Automobiles Ltd (KAL) - have been used in the Aditya L1 mission. This milestone achieved by the PSUs was highlighted by state Industries Minister P Rajeev in a Facebook post.
India's iconic Vande Bharat train project may finally find a solution to its two Russian-related issues.
Pronouncing the judgement, Justice Khanna said the court has rejected all the petitions, including those seeking resorting back to ballot papers in elections.
'There will be 200 ITIs developed as hubs, while 800 will be developed as spoke, connected with five National Skill Training Institutes.'
'He was a practical person who ensured that he thought about the common man, animals, the fact that they have a life and they have to be respected.'
India is all set to make its presence felt in the $47 billion global outsourced semiconductor testing and packaging market, an arena where Malaysia and Vietnam have been way ahead so far. The Cabinet last Thursday cleared two projects, the Tata's assembly testing and packaging plant (ATMP) and the Murugappa-owned CG Power with Renesas from Japan as its tech partner. These, together with Micron's assembly and testing plant which is already being constructed in Sanad in Gujarat, will collectively invest Rs 47,300 crore to set up the factories.
Apple makes the majority of its products, from Macs to the iPhone and iPad, in China, the world's factory floor for electronics.
Whether Rajeev Chandrasekhar wins or not, Thiruvananthapuram will likely never see such an interesting contest again.
'It's dull because this time the election is spread over such a long period.'
To counter the doubts over the machine's reliability, the Election Commission has come out with a list of FAQs to put across its views in public domain.
Many big countries are facing difficulties in doing so for their citizens, Modi said.
India must remain an integral part of the global economy if it has to grow at 9-10 per cent over the next three decades, Niti Aayog CEO Amitabh Kant said on Tuesday. Speaking at the 15th India Digital Summit, Kant said India needs to become a major global exporting nation, without that it will not be possible to become richer and create wealth for its people over the next three decades.
"Mock polls" are part of the first level check (FLC) process.
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Govt says Information Technology Agreement will be beneficial to India only when domestic manufacturing is robust
Is self-reliance the right approach in a mega-buck game, or better to be part of a network? asks T N Ninan.
'We are in touch independently with leading players, and they are denying it as well.' 'The Indian digital footprint is rising, creating new opportunities.'
The hubs will feed Europe, US and the Gulf.
Larsen & Toubro is set to invest Rs 100 crore (Rs 1 billion) in Mysore-based Rangsons Electronics for a 40 per cent stake.
Finance Minister Arun Jaitley is expected to present the Budget for 2014-15 in July.
The government on Thursday tweaked curbs on imports of laptops and computers as it allowed importers to bring in shipments of IT hardware from overseas on a mere 'authorisation' upon detailing quantity and value. The new 'import management system' is aimed at monitoring shipments of laptops, tablets and computers into the country without hurting market supply or creating a cumbersome licensing regime. The announcement is likely to provide relief to companies in the IT hardware segment in India as they had flagged concerns over the imposition of a strict licensing regime for importers.
Good results for the January-March quarter (Q4) of FY24 and strong seasonal demand have led to strong investor interest in Crompton Greaves (CG) Consumer Electricals which is hitting new highs. While there's bullish consensus on the company's future performance, the stock has gained over 40 per cent in the last six months and valuations may become stretched. The Q4FY24 revenue rose 9.5 per cent YoY to Rs 1,960 crore.
The Vedanta Group is aiming to invest $20 billion across all its businesses in India over the next four years, its chairman Anil Agarwal said on Wednesday. The group will sell the steel business only at the right price, and is committed to continue running it if it does not get the right price, Agarwal told PTI on the sidelines of a company event. "At the moment, we have a plan to invest $20 billion across sectors in four years time," Agarwal said.
Discussions are also going on to bring PLI scheme for toys, furniture, bicycles and containers. The objective of the scheme is to make domestic manufacturing globally competitive, create global champions in manufacturing, boost exports and create jobs.
Despite all the noise around India's chance to leverage the China-plus one strategy, India's share of global foreign direct investment (FDI) inflows fell from 3.5 per cent in the first nine months of 2022 to 2.19 per cent in the same period in 2023, according to OECD data. The sharp drop of 54 per cent is much steeper than the overall global FDI inflow decline of 26 per cent in the first nine months. FDI inflows to China have fallen dramatically from a share of 12.5 per cent in the first nine months of 2022 to only 1.7 per cent in the same period in 2023.
Samsung plans to increase capacity to make 100 million phones in India by 2020, which will be sold here as well as exported.
India's stiff labour laws were one key issue that Apple CEO Tim Cook discussed with Prime Minister Modi on his recent visit.
Prime Minister Narendra Modi on Friday said production linked incentive (PLI) scheme, which is aimed at boosting domestic manufacturing and exports, is expected to increase the country's production by $520 billion in the next five years. Addressing a webinar on PLI scheme, organised by Department of Industry and International Trade (DPIIT) and NITI Aayog, through video conference, Modi said the government is continuously carrying out reforms to boost domestic manufacturing. In this year's Budget, about Rs 2 lakh crore was earmarked for the PLI scheme for the next five years and "there is an expectation that the scheme would result in increasing the production by about $520 billion in the next five years", he said. He added that there is also an expectation that the current workforce in the sectors, which will avail the benefits of the PLI scheme, will be doubled and job creation will also increase.
In days of smart, networked technology and no shame over collateral damage, what will blow up next -- cars, mobile phones, TV sets, refrigerators? And where?, asks Shyam G Menon.
Given the gap between budgetary allocation and use, a parliamentary standing committee has asked the Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy (Ayush) to take steps to prevent underutilisation of funds under the National Ayush Mission (NAM) scheme. According to the data, the ministry was allocated Rs 1,200 crore for the mission in the Budgetary Estimate (BE) for FY24. The Revised Estimate (RE) for the year fell to Rs 815 crore, of which Rs 589 crore, or 74 per cent, has been spent till January.
The $300-million GiantPlus is a leading Taiwanese firm engaged in developing, manufacturing and selling LCD panels and modules focusing on small- and mid-sized applications such as mobile phones, consumer products and entertainment equipment.
A piece of slightly negative news can cause a serious setback, warns Debashis Basu.
How dominant are Chinese firms in India's sub-Rs 10,000 mobile device market? The question has become relevant as the government has been thinking of reserving this price segment for domestic players who have not been able to battle the Chinese onslaught. However, telecom firms and others are concerned that such a move could stymie the effort to build affordable 5G phones in the sub-Rs 10,000 category.
