Page 11 - Electronics

Digital economy to contribute over 20% of GDP by 2026: Chandrasekhar

Union Minister of State for Electronics and Information Technology Rajeev Chandrasekhar on Thursday forecast that the digital economy will contribute more than 20 per cent of the country's GDP in 2026. Addressing the 'G20 Digital Innovation Alliance Summit' here, he said India is a preeminent nation that adopted technology very fast and has started offering solutions to the world. "The digital economy has gone from 4-4.5 per cent in 2014 of the total GDP to 11 per cent of the total GDP today. And we expect the digital economy to contribute over 20 per cent of our GDP by 2026," Chandrasekhar said. According to him, India adopted technology not just for innovation in a broader sense, but to deliver real solutions that have transformed people's lives, governance and democracy in the last few years. "This pace of digitalisation means we are now looking at every citizen, every consumer consuming digital products or services, whether it is Instagram reels or Digital Public Infrastructure

Centre aims at 60-80% local value addition in IT hardware in 5-10 years

The Centre has asked industries operating in India to execute new production techniques, such as surface-mount technology (SMT) lines, to increase the local value-addition percentage

No proposal to put import restrictions on more electronic goods: Comm Secy

There is no proposal at present to impose import restrictions on more electronic goods, Commerce Secretary Sunil Barthwal said on Monday. The government has decided to impose import curbs on laptops, personal computers and certain more electronic devices from November 1 on security grounds to reduce imports from nations like China and boost domestic manufacturing. Barthwal said there is a production-linked incentive (PLI) scheme for electronics and mobile manufacturing. "We are monitoring our imports. We are also looking that there should not be undue dependence on any particular country. We want to diversify both our exports as well as our imports. "We do not want ourselves to be dependent upon very few sources of imports...So what we are doing, we are evaluating the position in consultation with various ministries. We are looking at trends, but there is nothing in the offing, as of now," he told reporters here. He was replying to a question about whether the government is lookin

Govt may give 1 month transition period for electronics import restrictions

Within a day, the government officials said there will be a transition period for this policy without providing further details

Noise unveils smart wearable Luna Ring: What is it, features, and more

The Luna Ring would offer a battery life of up to 7 days on a 60-minute charge, said Noise

Electronics export in India grew 56% in Q1, emerge as 4th largest item

Electronics exports grew over 56 per cent in the April-June period, reaching Rs 57,220.24 crore, as against Rs 36,533.18 crore in the corresponding period of last year

India may not hit ambitious electronics export target for FY26, says ICEA

Electronics exports: Forget China, long way to go for India to catch up with Vietnam, Malaysia

Amara Raja Electronics announces stake acquisition in Design Alpha

Amara Raja Electronics Ltd on Thursday said it has acquired a stake in engineering design firm Design Alpha. The acquisition will position Amara Raja Electronics Ltd AREL as a fully integrated electronic systems design and manufacturing (ESDM) company, unlocking numerous opportunities in the electronics manufacturing business, the company said in a statement without disclosing the percentage of shareholding it acquired. "By acquiring Design Alpha, AREL will gain access to expertise in industrial design, embedded and mixed signal electronics, power electronics, optical and photonics, firmware, and mechanical designs," it added. Besides opening doors to partnerships with large multinational corporations and expanding their customer base, the acquisition will also facilitate seamless integration of design and manufacturing processes, along with the provision of value-added services to enhance product performance, efficiency, and reduce time to market, the company said. "The acquisiti

Apple's 'China Plus One' key driver of Tamil Nadu's electronic export boom

Tamil Nadu posted almost a two-fold increase in electronic exports from $1.86 billion in 2021-22 to $5.37 billion in 2022-23

India pivoting from e-governance to digital governance, says IT Secretary

Alkesh Kumar Sharma, Secretary, MeitY, noted during the event that today's world is talking about digital transformation

Tatas create war chest of over Rs 7,600 crore for electronics business

Tata Electronics was given over Rs 608 crore in capital infusion in 2022-23 by its holding company Tata Sons, the highest in a single financial year

MeitY invites applications for incentives under PLI 2.0 for IT hardware

Ministry of Electronics and Information Technology opens the window for applications under the PLI scheme 2.0 for IT hardware to enhance manufacturing electronics sector

BHEL logs over 17% growth in new orders in 2022-23 to Rs 23,548 cr

State-run engineering firm Bharat Heavy Electricals Ltd (BHEL) logged over 17 per cent growth in new orders bagged in 2022-23 to Rs 23,548 crore compared to the previous year due to its diversified business approach. BHEL secured new orders worth Rs 20,078 crore in 2021-22, according to a company statement. "BHEL secured orders worth Rs 23,548 Crore (excluding taxes) during 2022-23 in its power, industry and export segments and the company ended the year with a total order book of over Rs 91,336 crore (excluding taxes)," it stated. The latest outstanding order book has crossed Rs 1,00,000 crore (excluding taxes) with the finalisation of the prestigious Vande Bharat trainset order in April 2023, it explained. The BHEL-TWL (BHEL-Titagarh Wagons Ltd.) consortium has been awarded an order valued at about Rs 23,000 crore (excluding taxes) for 80 Vande Bharat Trains in one of the biggest Railway tenders for manufacturing-cum-maintenance of Vande Bharat Trains. This order will give furth

Tata Electronic plans to bolster presence in electronics, semiconductor biz

Tata Electronic's expansion plans are being seen as an extension of its ongoing acquisition of Wistron's iPhone manufacturing unit in Karnataka's Kolar district

Crisil SME tracker: Inflation to hurt MSME growth in electronics sector

But growth will still be healthy as discounts and lower retail prices will cushion the fall

TMS Ep435: Electronics export, Twitter CEO, realty stocks, US debt ceiling

Can India catch up in US electronics exports race? Can the new CEO restore sanity at Twitter? Will strong order book buoy realty stocks? US debt ceiling: Why is the US govt staring at bankruptcy?

After a slow start, PLI scheme may switch on the afterburners in FY24

Rs 8,083 cr is expected to be disbursed this fiscal

Electronics exports grew a whopping 50% in FY23; may overtake drugs, pharma

Smartphones alone accounted for 23% of the rise

Localisation plan: Indian firms to make key components for Apple

This will push the extent of domestic value addition in iPhones

With rising mercury across India, sales of white goods pick up finally

According to consumer durable retailers and manufacturers, orders for compressor-driven products are on the rise, especially in northern India