Page 8 - Electronics

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

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