Page 7 - Electronics

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

Red-hot growth projections point to cooler outlook for Voltas stock

Voltas saw strong growth in both UCP (Unitary Cooling product) and EMPS (electro mechanical projects) segments. It reported a profit in EMPS versus expectations of loss

Despite PLI push, electronics imports top $20 bn for fifth quarter

Electronic goods include the imports of computer hardware, consumer electronics, electronics components, electronic instruments and telecommunications instruments

Best of BS Opinion: Weapons and technology, War on peace and more

Here is the best of Business Standard's opinion pieces for today

Electronics export opportunity

India must aim for greater global integration

14% iPhones made in India in FY24, electronics export rank up: Eco Survey

US smartphone major Apple assembled 14 per cent of global iPhones in India in FY24 and the country's ranking in global electronics export improved by four positions, Economic Survey 2023-24 said on Monday. The Survey, tabled in Parliament by Finance Minister Nirmala Sitharamn, said that the mobile phone segment within the electronics sector has experienced the maximum growth with exports to the US rising from USD 2.2 billion in the financial year 2022-23 to USD 5.7 billion in FY24. "Apple assembled USD 14 billion worth of iPhones in India during FY'24, constituting 14 per cent of its global iPhone production," the Economic Survey said citing third-party data. Foxconn has started production of Apple mobile phones in Karnataka and Tamil Nadu, it added. "India's share in world electronics exports has improved from 0.63 per cent in 2018 to 0.88 per cent in 2022. As such, India's exports (ranking) rose from 28th in 2018 to 24th in 2022 in global electronics exports. The share of ...

India must aim for $500 bn in electronics manufacturing by 2030: NITI Aayog

Policies for capital goods manufacturing, incentivising research, tariff rationalisation needed

MeitY lets tech firms, data fiduciaries decide on parental consent methods

The Ministry of Electronics and Information Technology has urged tech firms to adopt advanced methods for obtaining parental consent while allowing them to determine the best practices independently

Electronics manufacturing offers MSMEs huge opportunity to succeed: IT secy

Electronics component manufacturing in India offers MSMEs a "huge opportunity to succeed", IT Secretary S Krishnan said on Wednesday asserting that Meity is looking at ways to spur the electronics components ecosystem in the country. Speaking at the CII MSME Growth Summit, Krishnan also exhorted MSMEs to seize growth opportunities, adopt technology and digital tools to expand, and "graduate" to becoming a larger enterprise over time. "You enter as a startup and try to exit within a reasonable time frame. So we should not have 'intergenerational' MSMEs anymore in this country," he said pointing to a slew of opportunities that technology today enables. Krishnan said India's aspirations to transform itself into an electronics manufacturing destination are "extremely important" from employment, resilience, and exports viewpoint. Moreover, it ensures that quality products are available for domestic consumers in the market. "There is a huge requirement for components and that component .

We plan to double shipments to 700 mn in India in 10 yrs: Xiaomi president

He said the company is mulling to start manufacturing artificial intelligence-based Internet of Things devices in India, and conversations are on for making its tablet in the country

Govt to hold 'Global IndiaAI Summit' on July 3-4 to discuss key AI issues

The Ministry of Electronics and Information Technology will organise a global AI summit on July 3-4 to discuss issues related to artificial intelligence with India firmly committed to ethical and inclusive growth of this new-age technology. Through the 'Global IndiaAI Summit 2024', India aspires to establish itself as a global leader in AI innovation, ensuring that AI benefits are accessible to all and contribute to the nation's socio-economic development. The two-day event being organised by the Ministry of Electronics and Information Technology (Meity) in the national capital highlights the government's "unwavering commitment to the responsible development, deployment, and adoption of artificial intelligence", the release said. Key speakers at the event include Minister for Electronics and IT Ashwini Vaishnaw; Minister of State for Electronics and IT Jitin Prasada, as well as industry leaders. The summit will provide a platform for leading international AI experts from science, .

Electronic components demand to rise 5 times to $240 bn by 2030: CII

Demand for electronic components and sub-assemblies is estimated to grow over five-fold to USD 240 billion by 2030, including includes some of the key parts like motherboard, lithium ion batteries, camera module etc that are largely imported, a CII report released on Sunday said. The report recommends the government to come up with revised electronic components production-linked incentive schemes with higher incentives in the range of 35-40 per cent to reduce dependence on imports. "The demand for components and sub-assemblies stood at USD 45.5 billion to support USD 102 billion worth of electronics production in 2023. This demand is expected to scale to USD 240 billion to support the USD 500 billion worth electronics production by 2030. Priority components and sub-assemblies, including PCBAs, are projected to grow at a robust CAGR of 30 per cent, reaching USD 139 billion by 2030," the report said. The report identifies components and sub-assemblies of batteries (lithium-ion), camer

Signify aims double-digit growth from Indian business in 2024: CEO

Signify, formerly known as Philips Lighting, is targeting double-digit growth from its India business in 2024, a top company official has said. The company, which overall leads the Indian lighting market, also has plans to increase exports from India to other markets, playing a bigger role, Signify CEO and MD Sumit Joshi said. "India is a very important market not because of the domestic market which we have, but also the role which India could play for the world for Signify is becoming far more important," Joshi told PTI. On the domestic market, in which Signify operates in the consumer segment (B2C) and the professional lighting solutions (B2B) vertical, he said the company has been able to "extend its leadership". When asked about the growth, Joshi said: "I think we will continue to do on the consumer part of the business on volume we will continue to grow. In the first half, we are growing in high single digits, hopefully after the budget during the festivals, the numbers will

Rising imports from China powering India's electronics production

Other countries such as Korea and Taiwan combined have seen their imports hit $4.5 billion in FY24 but they are still half of China and Hong Kong combined

CRISIL SME Tracker: Higher demand, PLI to propel electronics MSMEs in FY25

Various factors contributed to the growth, such as increasing penetration of internet and 5G services, rising consumer income, shorter replacement cycles, easier payment terms

How is the Red Sea crisis making your TVs, ACs costlier? Key details

Sea freight expenses from China are rising due to a shortage of shipping containers resulting from the Iran-Israel conflicts