Apple and Samsung are international players and should work as a team with domestic companies to transform India into a global powerhouse: IT Minister Ravi Shankar Prasad.
A corpus of Rs 20,000-30,000 crore is under consideration, to narrow the input tax credit cycle and facilitate their working capital requirements.
India needs to unleash technological and social innovations that can usher in a new developmental model the world has not seen before, TCS Vice-Chairman S Ramadorai said.
Hindustan Aeronautics (HAL) is one of the largest beneficiaries of the defence indigenisation programme. The aerospace Public Sector Undertaking (PSU) has just received a new tender for 97 Light Combat Aircraft (LCA) Tejas Mk1A, and it is already servicing an earlier order for 83 LCA aircraft. The new order is worth around Rs 65,000 crore with a 65 per cent indigenisation component, whereas the earlier order (February 21) was worth Rs 45,700 crore with 55 per cent indigenisation.
A few days back, Atul Ganatra, president of the Cotton Association of India, presented a grim scenario of the crop's prospects in the 2024-25 season that starts in October. Addressing the association's annual general meeting, Ganatra said the area under the crop could go down by at least 10 per cent in the coming season due to falling yields and realisation, leading to farmers losing interest. The fear of a decline in acreage comes against the backdrop of India's cotton production probably falling to its lowest in a decade, according to estimates.
Russian GPS jammers first surfaced two years back in Iraq when many US smart weapons missed their targets during massive strikes on key installations of Saddam Hussein's regime, causing a row between Moscow and Washington.
India-France synergy is poised to open vistas of collaboration between the two countries, notes Rup Narayan Das.
The other prominent gainers were Tech Mahindra, HCL Technologies, Wipro, State Bank of India and Larsen & Toubro. Bajaj Finserv, Power Grid, UltraTech Cement and HDFC Bank were among the laggards.
The United States on Wednesday promised to initiate measures to provide access to dual use technology to India which has been contending that American norms were leading to denial of export of such sophisticated items.
Prime Minister Manmohan Singh on Monday welcomed the US decision to lift controls on export of high technology items and technologies to India as well as its offer of support the country's membership in multilateral export control regimes like Nuclear Suppliers' Group.
It is expected growth will primarily be driven by continued demand from the US, a revival in the European market, especially continental Europe, and increased momentum in the adoption of new technologies.
Experts call for consistency in government policies to enable Indian exporters to frame a long-term strategy.
Hari Kumar lauded Adani's efforts in aligning their roadmap to the requirements of the Indian Navy and establishing an ecosystem of partners and capabilities to enable Aatmanirbharta in defence and security.
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.
The Indian economy is projected to grow at 6.3 per cent in current financial year aided by investment and domestic demand. According to a World Bank report released on Tuesday, India continues to show resilience against the backdrop of a challenging global environment. In India, which accounts for the bulk of South Asia region, growth is expected to remain robust at 6.3 per cent in 2023-24, India Development Update of the World Bank said.
With sentiment for the automotive (auto) sector turning positive, stocks of two-wheeler auto majors have been hitting their 52-week highs. Hero MotoCorp, Bajaj Auto, TVS Motor Company, and Eicher Motors recently reached their yearly highs on strong sales in the festival season and the expectation of faster growth rates ahead. Since the start of this month, listed two-wheeler majors have delivered returns in the 12-17 per cent range, compared to the 7 per cent gains for the S&P BSE Auto Index and 3 per cent for the benchmark S&P BSE Sensex.
IT major Tata Consultancy Services on Friday bagged the Best Software Exporter National award for 2001-02 while Infosys received the second best award.\n\n
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.
All of Pakistan's existing nuclear power generation plants are under IAEA safeguards.
The rupee on Thursday gained 39 paise to close at a nearly 10-month high of 59.29 against the US dollar following sustained selling of the American currency by exporters and continued capital inflows, ahead of keenly-waited Lok Sabha poll results to be unveiled on Friday.
It is mind-boggling to find our prime minister putting exports on the back-burner, says Jayanta Roy.
The customs officials, based on an intelligence input, halted a Malta-flagged merchant ship -- CMA CGM Attila -- at the port en route to Karachi on January 23 and inspected the consignment, which included a Computer Numerical Control (CNC) machine, originally manufactured by an Italian company.
In a bid to liberalise foreign technology agreement policy further, the government on Wednesday decided to allow all companies to make royalty payments without any restriction on the duration, on the automatic approval route.\n\n\n\n
Software services industry may have to relook its cost structure to maintain a higher margin.
The Softbank-backed company has set a price band of Rs 72 to Rs 76 per share for the maiden share sale and is expected to test the appetite for new-age loss-making companies.
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.
The board of Maruti Suzuki India (MSIL) on Tuesday approved a proposal to issue shares worth Rs 12,841 crore to parent company Suzuki Motor Corporation (SMC) for acquiring Suzuki Motor Gujarat (SMG). The Gujarat manufacturing plant - with an annual capacity of 750,000 units - is owned by SMG, a wholly-owned subsidiary of SMC. The shares issued to SMC will raise its ownership in MSIL from 56.48 per cent to 58.19 per cent--India's largest carmaker stated in a notice to BSE.
Offshore projects accounted for over 70 per cent of the total software exports of Tamil Nadu during 2003-04, according to Software Technology Parks of India, Chennai.
Russia's unprecedented rapprochement with North Korea has raised concerns about the re-emergence of a Russia-China-North Korea alliance which could increase the probability of conflict on the Korean Peninsula, explains Dr Rajaram Panda.
Prime Minister Narendra Modi on Friday said the Agnipath scheme is an example of necessary reforms undertaken by the Army and accused the opposition of playing politics over the recruitment process aimed at keeping the average age in armed forces young.
Although the credit for acquiring the technological skill must be given to India's outstanding nuclear scientists, the decision to go nuclear was a political one that entailed clarity of vision, courage and resolve, points out Rup Narayan Das.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
The defence budget was on Thursday increased to Rs 6.21 lakh crore for 2024-25 in a modest hike of 4.72 per cent from last year's allocation of Rs 5.25 lakh crore amid India's continuing border row with China in eastern Ladakh as well as concerns over evolving security situation in the strategic waterways.
Unlike Israeli company NSO, whose sale of Pegasus cyber tech grabbed worldwide attention, and other manufacturers of offensive-cyber products, Cellebrite operates in a grey area between security exports and civilian ones.
'Companies like Tesla and others have been given a long rope in India.'
The information technology and IT-enabled services sectors are expected to grow 12-14 per cent and clock export revenues of $84-87 billion in the next fiscal, industry body Nasscom said.
Karnataka, India's largest software exporting state, is targeting software and services export worth $6 billion in 2004-05 riding on the IT and ITeS growth besides aiming to add an additional 100,000 professionals in the next two years.
When overall gems and jewellery exports remained resilient so far this year on global economic uncertainty, shipment of silver jewellery witnessed a phenomenal growth so far this year.
Infosys Head India Business Unit C N Raghupathi said for the manufacturing sector, the key areas to focus on include new product innovation.
