US chipmaker Advanced Micro Devices (AM) on Friday announced a $400 million investment in India over the next five years and said it will build its largest design centre in Bengaluru. AMD chief technology officer Mark Papermaster made the announcement at the annual semiconductor conference in the presence of Prime Minister Narendra Modi. Undeterred by Taiwan's Foxconn pulling out of his group's $20 billion semiconductor-making venture, mining baron Anil Agarwal said the first phase of Vedanta's chip-making project will be ready in two-and-a-half 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.
New Delhi's timing couldn't have been worse, both for India's fledgling electric vehicle (EV) sector and prospective electric bike buyers. It was hard to miss the perfect storm brewing for India's EV industry since early 2022. On one hand, you had several accidents involving battery fires that unnerved consumers; on the other, uncertainty had crept in over subsidies.
Plenty happens over the show -- riots, nefarious schemes, betrayal and multiple murders -- which should have made for a riveting watch but everything evokes déjà vu and worse, sighs Deepa Gahlot.
When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.
Last month, the parliamentary watchdog had concluded that Sunak's failure to reference his wife's shares in Koru Kids arose out of "confusion and was accordingly inadvertent".
The government is considering the option of inviting fresh applications to bid for the fourth slot which fell vacant after one of the initial candidates who qualified, Hyundai Global Motors, exited from the production-linked incentive (PLI) scheme for advanced chemistry cell battery storage with a capacity of 20 GwH. Earlier, stakeholders had expected that the vacant slot would be offered to waitlisted players ranked on their technical and financial offer. A final decision will be taken soon.
The government on Friday deferred the implementation of the import restriction order on laptops and computers (including tablet computers) by about three months till October 31, a move that gives more time to electronic companies to import these devices without a licence. Nw, these companies would need to take a licence from the government to import these devices from November 1. On August 3, the government put the import of these devices under a licence regime with immediate effect.
'SUV is a very intensely fought category, unlike hatchbacks and cars.'
Billionaire Gautam Adani's group is planning to build 10 GW of integrated solar manufacturing capacity by 2027, as it looks to capture energy transition business, sources close to the company said. Adani Group currently has a solar manufacturing capacity of 4 GW. Adani Solar has a confirmed order book of over 3,000 MW in exports that are to be serviced over the next 15 months, they said, adding Adani, recently, raised $394 million for solar manufacturing from Barclays PLC and Deutsche Banks AG through a trade finance facility.
'As part of our D33 strategy, the plan is to establish 30 unicorns in Dubai within the next 10 years.'
Backed by their strong physical presence across the country, UTI Mutual Fund and SBI Mutual Fund (MF) have managed to mobilise a higher proportion of their total assets under management (AUM) from towns and villages than their peers. Data compiled by Nuvama Institutional Equities shows that UTI MF and SBI MF are the only two major fund houses with over a fifth of their AUM coming from areas beyond the top 30 cities (referred to as B-30). UTI MF tops the chart with 23.8 per cent of its assets belonging to B-30 centres, followed by SBI MF with 21.2 per cent B-30 assets. The industry average stands at 17 per cent.
The talks for a free trade agreement (FTA) between India and Canada may have taken a pause but will resume once the political row between the two countries is resolved as the pact has economic benefits for both the nations, trade experts and exporters said on Friday. However, they said that India may not hurry for the trade agreement as 60 per cent of New Delhi's exports are already entering Canada at zero duty. Earlier this month, India and Canada paused the negotiations for the agreement due to political reasons.
Here is what you need to know about the prize pot on offer at the US Open
The drug maker will lose some incentives if its membership is suspended, sources in Pharmexcil said.
The RBI in November released a framework for large foreign banks with more than 20 branches to convert into wholly owned subsidiaries.
'The concept of an MP IPL team is the brainchild of Kamal Nath.' 'If the Congress government comes to power in the state, he will assemble an IPL team for MP with the assistance of his business contacts.'
Zomato-owned quick commerce firm Blinkit has permanently shut down some of its dark stores in Gurugram amid ongoing strikes by many of its delivery workers in the region. Blinkit informed its workers of the development through a notification - seen by Business Standard - on their delivery partner app which said that the stores are being closed because the partners have not been working at them for the past 3-4 days.
OSAT majors have concerns about India's ability to provide a stable, predictable, and lasting policy environment for years to come, which is key for making a decision in a capital-intensive business.
The state is also the biggest market for TVS, another incumbent player, and together with Bajaj Auto, they accounted for 88 per cent of Maharashtra's total electric scooter sales last month. As many as 8,417 units were sold in Maharashtra in September. Bajaj Auto's contribution was 4,048 vehicles and that of TVS was 3,389, according to model- and state-wise data from the Society of Indian Automobile Manufacturers (Siam).
The linking of Aadhaar number with mobile SIM cards would enable the subscribers to use a host of services, including financial transactions.
The Indian government is keen to woo major semiconductor players, but a global race to attract them to countries where there is already an ecosystem is making it difficult for India to attract the biggies in the business. On Wednesday the government decided to throw open the doors to more players to participate in its semiconductor scheme. It is now looking at not only 28 nanometre (nm) chips and below, but higher nodes like 40 nm.
The Securities and Exchange Board of India (Sebi) is considering a proposal to allow mutual funds (MFs) to charge a fee based on their performance, said Ananta Barua, whole-time member of the markets regulator. He said the proposal is being reviewed by a working group formed to look into cost structures. "One working group has been set up which is going to review... One of the suggestions is that if any scheme or fund is performing well above the benchmark, it (fee) can be linked to its performance.
'If a person makes a decision because they think it's the best for themselves, the future and security of their families, then it's very hard to disagree with that.'
While Jio MF will undoubtedly grow in size, it will have to cross multiple hurdles even to emerge as the market leader, observes Debashis Basu.
'There is a need for a national task force with a singular objective to increase automotive exports.'
One of the key factors contributing to the decline in the value of the rupee against the US dollar is the tightening yield spread between the 10-year India government bond and the US government bond. The yield on 10-year Indian government bonds is now only 295 basis points higher than that of US 10-year treasury bonds, the lowest since January 2007. Lower spread means lower incentive for foreign investors to invest in rupee assets, which adversely affects foreign capital inflows into the country and weighs on the rupee-dollar exchange rate.
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.
The government on Thursday imposed import restrictions on laptops, tablets, all-in-one personal computers, ultra small form factor computers, and servers with immediate effect. The Directorate General of Foreign Trade (DGFT) in a notification said exemption from import licensing is provided up to 20 items per consignment for R&D, testing, benchmarking and evaluation, repair and return and product development purposes.
Although the special relationship might compel Bhutan to be considerate of Indian interests, new challenges will likely arise. An emerging new phase of relations will also call for fresh redlines between India and Bhutan, observe Harsh V Pant and Aditya Gowdara Shivamurthy.
To come up with first EV by 2025, expects market to grow two to three-fold in the next ten years.
Food delivery firm Zomato Ltd said on Wednesday most stores of its grocery unit Blinkit had resumed operations after being shut following protests by delivery partners. "Over the last few days we have made changes in the delivery partner payout structure with respect to the Blinkit business to address the needs of delivery partners, improve customer experience and reduce cancellation/ order rejection frauds by few delivery partners in the system. "Such changes are done from time to time, as needed," said the company in a letter to the BSE.
'...by directing these draconian provisions against political and ideological opponents of the ruling group, minorities, and those who dare to dissent through and selective prosecution and prolonged incarceration as undertrials.'
E-commerce players may soon rent out drones, so you can use them the way you book a cab on an app, and test viable use-cases for last-mile delivery.
Improved monsoon, solid fiscal performance, and capex push by the public and private sectors augurs well for India's macroeconomic stability and growth, the finance ministry's monthly economic review for June 2023 said. But the report said that while India's domestic fundamentals remain strong, negative cross-border spillovers and adverse global developments could act as a deterrent in achieving the high growth path this financial year. "An improved matching of aggregate supply and aggregate demand in the Indian economy underpins the progress made in the control of domestic inflation and the consequent strengthening of macroeconomic stability," the review said.
The WTC winners will collect US$1.6 million as the prize money, while the losing finalists will pocket $800,000.
'The cash part is the lower hanging fruit compared to the other sources.' 'To attack the cash part of black money, I can't think of anything else but demonetisation.'
At a time when consumers increasingly embrace green mobility solutions, it is not electric cars but hybrids that are taking the lead, as automotive sales data indicate. Since January, 64,097 electric cars have been sold compared to 266,465 hybrids, according to data from the ministry of road transport and highways' Vahan dashboard. Hybrid car sales have surged from 4.42 per cent of the 4.1 million cars sold in calendar year 2022 to 7.2 per cent this year.
Australia is looking to chase down their first overseas Ashes victory since 2001 by breaking the record for the second-largest successful fourth innings chase in Ashes history on Day 5 of the fifth Ashes Test.
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