Page 7 - Electronics

India's electronics sector threatened by 10 million skill shortage: Report

The electronics value chain is advancing rapidly, but bridging skill gaps is crucial to unlocking its full potential, a report has stated

Tata to buy majority stake in Pegatron for its iPhone plant in Tamil Nadu

Under the deal announced internally last week, Tata will hold 60 per cent and run daily operations under the joint venture, while Pegatron will hold the rest and provide technical support

CastNX Secures INR 23.22 Cr Investment from Arpit Khandelwal to Drive Power Electronics Innovation

Founded in 2020 by Ms. Sunita Tamboli and managed by Mr. Manoj Modi, CastNX has established itself as a leader in power electronics product development.

LG Electronics' FY24 revenue rises 7.5% to Rs 21,352 cr, profit grows 12.3%

Leading appliance maker LG Electronics India reported a 12.35 per cent rise in profit to Rs 1,511.1 crore for FY24, and its revenue from operations grew 7.48 per cent to Rs 21,352 crore, according to financial data accessed by the business intelligence platform Tofler. The company, which is not publicly listed, had posted a profit after tax at Rs 1,344.9 crore and its revenue from operations stood at Rs 19,864.6 crore for the financial year that ended in March, 2023. LG Electronics India's total income for FY24 increased 7.2 per cent to Rs 21,557.1 crore, while its revenue from other income sources registered a 16 per cent decline at Rs 205.1 crore. The pre-tax profit of the company, a wholly-owned subsidiary of South Korea-based LG Electronics, increased by 11.9 per cent to Rs. 2,037.1 crore. The total tax expense of LG Electronics India in FY24 rose by 11.36 per cent to Rs 526 crore as against Rs 472.3 crore a year ago. LG Electronics India's total expenses increased 6.73 per

India's goal should be to have 10-plus fabs by 2030: SEMI President & CEO

He shares insights on India's new strategy to establish itself as a major force in the global semiconductor industry

Voltas, Daikin, and Orient among 38 white goods PLI scheme bidders

According to Sanjiv, joint secretary, Department for Promotion of Industry and Internal Trade (DPIIT) the latest round will attract investment worth Rs 4121 crore

Samsung workers' strike still on at Chennai unit despite pay hike offer: Know why

Samsung workers who have been protesting since September 9 at Samsung Electronics' Sriperumbudur plant in Tamil Nadu have entered into the second month of their protest.

Tata Electronics names Bobby Mitra as CIO, president for AI transformation

He will advance Tata Electronics' technology and manufacturing capabilities, says company

Sony India records 21% growth in 2023-24; bets big on premium TV segment

Consumer electronics giant Sony India recorded a 21 per cent growth in 2023-24 and expects to continue the momentum going forward led by the trend of premiumisation in the TV and consumer electronics space, Managing Director Sunil Nayyar said on Monday. However, the company expects a moderation in the growth rates in the current fiscal, he said, adding it "may be not to the level which we have registered last year, because of the high base effect". Sony India is quite upbeat after having almost 40 per cent growth in festive sales during Onam in the southern market and expects a similar kind of double-digit growth in the rest part of the country during the festive season starting from Durga Puja. "So we are very hopeful that Diwali should be pretty strong as far as the sales is concerned. Hopefully, we are getting a growth of high double digit this time," Nayyar told PTI. The company, which is a leader in the premium television segment with around 35 per cent overall market share in

Felt like a bomb blast, say locals after blaze at Tata's Hosur plant

About 1,500 workers, mainly in the morning shift, were present at the unit when the fire erupted, according to sources. All employees were evacuated, and no casualties or injuries were reported

PLI investment in mobiles, production surpasses target: IT secretary

Investment in mobile phone manufacturing under the PLI scheme as well as production has surpassed the targets, Electronics and IT Secretary S Krishnan said on Wednesday. Addressing reporters on the completion of 10 years of Make In India initiative, the official said the overall production of electronics in India has increased to Rs 9.52 lakh crore with an annual compounded growth rate of 17.4 per cent from Rs 1.9 lakh crore in 2014-15, he said. "If you look at what the PLI scheme has done in the mobile sector, the overall production we have reached is far in excess of the target. We have reached Rs 6.61 lakh crore is the total value of production, well above the target that has been set. The overall investment has been Rs 9,100 crore, which is again well above the target," Krishnan said. The government had set a target of Rs 7,000 crore cumulative investment during the five-year scheme period and Rs 5,488 crore till 2023-24, according to official data. The mobile PLI scheme set a

Govt's policy flip-flops on imports of gadgets raises biz uncertainty: GTRI

The government's policy flip-flops on restricting imports of laptops and similar products have increased business uncertainty and costs, think tank GTRI said on Wednesday. A decisive and consistent policy is crucial to encourage global technology companies to shift manufacturing units to India and build a robust electronics supply chain, it added. To promote local manufacturing and reduce reliance on China, the government must announce a stable and long-term policy, it noted. India, it said, is bound by the ITA-1 (information technology) agreement of the World Trade Organisation (WTO) and cannot raise import duties, leaving import restrictions as the primary tool for fostering domestic production. However, the repeated extensions of import authorisations and delays in implementing a clear Import Management System (IMS) have undermined these efforts, the think tank said. "A decisive, consistent policy is crucial to encourage global tech companies to shift manufacturing to India and

Makers of electronic goods and telecom gear oppose draft recycling rules

Meity officials support the view of associations representing manufacturers

Electronics sector to discuss tariff, reforms with PMO, finance ministry

The electronics manufacturing sector will hold meetings with the Prime Minister's Office (PMO) and the Ministry of Finance to discuss '$500 billion by 2030' goal

'Electronics production must grow at 22% to hit $500 billion target'

In FY 2024, the total electronics production stood at $115 billion

LG Electronics picks banks for $1.5 billion listing of Indian unit

LG has tapped banks including Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley as arrangers for an IPO

No funding issue for semicon projects, committed Rs 62K cr incentive: Meity

The government has committed about Rs 62,000 crore in incentives for electronic plants and there is no issue in funding semiconductor projects, Electronics and IT Secretary S Krishnan has said. He told PTI that out of Rs 76,000 crore approved earlier, the government still has scope to accommodate small projects and will approach authorities when there are new projects in place. "Out of the Rs 76,000 crore intended for the semiconductor mission, we have committed about Rs 62,000 crore, including the last scheme which was cleared for Kaynes. As of now, wherever claims have come up, we are settling them with maximum dispatch, and there is no funding issue right now at all," Krishnan said. The government has approved five semiconductor projects entailing investments of around Rs 1.52 lakh crore or about USD 18 billion. He said that some funding is required for the Semiconductor Laboratory's modernization in Mohali. "We still have some funds to take up some smaller projects and approv

MeitY urges swift removal of fake content by intermediaries after HC order

The Bombay High Court ordered the deletion of false information following the circulation of fake videos featuring NSE's MD and CEO Ashishkumar Chauhan

Luxury lift: Sales of smartphones over Rs 1 lakh surge, buck mkt trend

Although this segment currently makes up just one per cent of the overall market, it is growing faster than other categories

Electronics 5th largest export commodity; growing 23% annually: Meity

Electronics has become the country's fifth largest export commodity, growing by 23 per cent annually, a senior official in the Ministry of Electronics and IT said on Friday. Electronics manufacturing in India has crossed USD 100 billion market in March 2024, which was USD 49 billion in 2017, Bhuvnesh Kumar, Additional Secretary in the Ministry of Electronics and IT, said at the launch of indigenously-built Tyronne AMD servers by Netweb Technologies. "The electronics exports are rapidly growing at rate of 23 per cent annually. Last year we did USD 30 billion of exports from India. "Surprisingly for many, it has become 5th largest commodity being exported from India," Kumar said. He also expressed confidence that the country's net revenue from electronic exports will become positive in coming years with start of local semiconductor production. Kumar said the country's trillion dollar digital economy has a component of USD 400 billion from electronics manufacturing and the rest comes