As many as 15 companies, including Adani Copper Tubes, LG Electronics and Wipro Enterprises, with committed investment of Rs 1,368 crore, have been selected as beneficiaries under the PLI scheme for the white goods sector, the government said on Tuesday. In March, the commerce and industry ministry had reopened the application window for its Rs 6,238-crore PLI scheme for white goods -- air-conditioners (ACs) and LED lights-- with an aim to accommodate more players as several firms had expressed interest in the initiative. Last year, as many as 46 firms, including Daikin, Panasonic, Syska and Havells, with committed investment of Rs 5,264 crore were selected in the first round the scheme.
LG, Panasonic: Making in and for India LG and Panasonic are looking to revive their fortunes in India by building local insights into their new products.
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.
After 2014, our growth has been average of around 5%. If this continues, we will remain here like Egypt, Brazil, South Africa and Bangladesh, points out Aakar Patel.
The Rs 1.5-trillion-a-year industry has ended the year with a 30 per cent fall in sales because after a steady recovery in the festive season, multiple factors dashed its hopes of revival at the end of the year.
Given the rising levels of pollution, air purifiers have now become a necessity. Manavi Kapur and Veer Arjun Singh check out some of the options in the market.
Here are a few cameras that will help you bring home the memories With holidays around the corner, travelling to exotic places is on our minds, says Abhik Sen
It is not without reason that Japanese consumer electronics companies such as Sony, Panasonic, Hitachi, Daikin and Sharp are investing significant sums in India.
Panasonic India is set to increase the prices of its products by up to 7 per cent, while some others players have already increased it.
Some companies argue that the culture of staying, working and learning at home will persist for a while, altering lifestyle habits of consumers.
Artificially intelligent smartphones will be able to offer solutions and suggestions based on user behaviour.
Japanese chief cabinet secretary Katsunobu Kato declined to give details but said Japan would make every effort to protect the Games from possible hacking attempts.
Consumer durable firms, including Haier, Whirlpool, Panasonic, Godrej Appliances and Daikin, are increasing prices of their products by up to 5 per cent following the withdrawal of excise duty sops, coupled with high input costs.
Here are some areas where costs have grown, and where income that had been expected will not materialise.
New stars emerged on the horizon in Shubhankar Sharma and Ajeetesh Sandhu even as familiar faces strengthened their stranglehold by picking up their own set of titles in a season of new highs for Indian golf.
Organisers said last December that the entire cost of holding the Games would come to about $15.4 billion, including $2.8 billion in costs for the unprecedented postponement from 2020. Since then, the projected bill for postponement has risen to $3 billion.
Top companies across sectors -- automobile maker Maruti Suzuki, consumer electronics giant Samsung to IT giant Infosys -- have reopened factories and offices as India took its first steps towards resuming economic activity after weeks under a near-total coronavirus lockdown.
Summary of sports events and persons who made news on Sunday
Ashish Narsale/Rediff.com offers a quick checklist of the best of CES's Auto World. The future is here, you will witness self driven cars to flying cars controlled by AI. We bring you the highlight of the CES auto world.
A stake sale of Reliance's real estate portfolio would help it raise anything between $1-5 billion and could be one of the triggers for the company's shares to break out.
Consumer durable makers like Sony, LG, Panasonic and Whirlpool are expecting up to 35 per cent growth in the upcoming festive season and are pulling out all stops as the sector eyes a rebound from a prolonged slump.
Durable goods companies and retailers say online sales won't compensate for the fall in offline sales.
The Tata group may have to deploy upwards of $1 billion to improve the airline's passenger reservation system, upgrade and refurbish Air India's fleet, primarily the wide-body aircraft which are the mainstay for the airline's international operations, people in the know said. While the group has not yet decided on how it intends to integrate Air India with its existing airlines AirAsia India and Vistara, sources said the first task will be to refinance Air India's existing loans, upgrade its aircraft gradually, and rewrite multiple business contracts with vendors and suppliers. "They will have to do 100 things to stabilise the airline and will have to put in a lot of money," DIPAM secretary Tuhin Kanta Pandey said, confirming that many aircraft are grounded.
In total, BSE would shift as many as 40 securities to the trade-for-trade category or 'T' Group while NSE would transfer 18 scrips to the segment on its platform, as per separate notices issued by both the bourses.
The all-cash transaction is likely to be complete in the first quarter of 2020, subject to regulatory clearance.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
Neeraj ran in fast, did the crossover. The javelin flew out of his hands and he did not look towards the sector. He just knew he had bettered the first attempt. The moment the javelin left his hand, he knew he had done it.
With some of the world's most amazing gadgets, the 2015 International CES kicked off on January 6 promising a fantastic show with more than 3,600 exhibitors.
Chiragh Kumar used his familiarity with the Delhi Golf Club to help him win his maiden Asian Tour title at the Panasonic Open India on Sunday.
India's Rahil Gangjee ended a 14-year title drought when he sank a decisive birdie on the final hole for a one-shot victory at the Panasonic Open
Experts say launches would pick up pace from mid-March.
With consumers staying indoors and e-commerce firms extending their reach to a larger number of pin codes, these giants have snatched a larger share from the offline traders this season.
Shiv Kapur had the best performance among Indian golfers as he finished fourth at the Panasonic Open India which concluded at the Delhi Golf Club in New Delhi on Sunday.
Shiv Kapur braved tough conditions to manage an even par 72 to be tied third while Jyoti Randhawa fired a flawless five-under 67 to jump to sole fifth after the third round of the Panasonic Open India, in New Delhi on Saturday.
Many of us would recoil at the thought of refurbished electronics, with many preferring to buy new items because we trust that nothing can go wrong with them, but refurbished does not always mean a resurrected defective product.
Gaganjeet Bhullar made a valiant charge on the final day, but eventually finished second behind Thailand's Thaworn Wiratchant who maintained his overnight lead to capture his 14th Asian tour title at the Worldwide Selangor Masters in Selangor, Malaysia on Saturday.
According to the Consumer Electronics and Appliances Manufacturers Association (CEAMA), the estimated Rs 35,000 crore (Rs 350 billion) Indian consumer durables market, which has giants like LG, Sony, Videocon, Samsung and Panasonic, did not grow as expected, with air-conditioners being the biggest spoilsport.
Anirban Lahiri overcame swirling winds for an opening round three-under-par 69 to ignite his title defence at the Panasonic Open India on Thursday. Prom Meesawat of Thailand was among eight players tied in second place on 70 with Asian Tour rookie James Byrne of Scotland, Australians Adam Groom and Scott Barr and Indians Shankar Das, Ashok Kumar, Sanjay Kumar and Digvijay Singh at the US$300,000 event.
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