ATMANIRBHAR POLICY
Explosive growth: How defence sector became a darling of investors
Motilal Oswal Nifty India Defence Index Fund breaks records by collecting Rs 1,676 crores during its NFO period. India's defence sector experiences growth through indigenisation efforts and increased investments. The country aims to enhance its defence production capabilities and boost exports in the coming years.
ETMarkets Smart Talk: Allocation towards Atmnanirbhar Bharat, infra and digitisation likely in final Budget 2024: Sandeep Raina
The markets are reacting positively in anticipation of a good budget with a focus on infrastructure spending and the reappointment of key ministers has been perceived positively.
Fiscal discipline key to India's growth prospects: Sanjay Nayar
So, we will have to also think about how we channel the energies towards more advanced and more modern techniques and technology, because that is what we need right now.
Hyundai flags concerns with 'changes' by Indian govt ahead of planned Rs 25,000 crore IPO
Hyundai, which plans to raise Rs 25,000 crore through the Indian stock market by selling a 17% equity stake in the local unit, flagged the importance of stable policies for confidently making technological upgrades. They also highlighted concerns about localisation norms like PLI for automotive technology, aiming to reduce import dependence and lower manufacturing costs with significant initial capital investments.
Rajnath Singh retains Defence Minister portfolio with major reforms on the horizon, here are some key issues that are expected to be addressed
Rajnath Singh will continue as India's Defense Minister, focusing on self-reliance in defense and boosting women's roles in the armed forces. Amidst tensions with China, India is increasing defense imports from the US. The Agnipath recruitment scheme, criticized for job security, is under review. Theater command unification aims to enhance joint operations, with progress made. Indigenous military production is a priority to reduce reliance on imports. Singh faces the immediate task of appointing a new Army Chief, influencing future military reforms.
Meity policy momentum to continue with Ashwini Vaishnaw retaining Electronics, IT portfolio
Union minister Ashwini Vaishnaw retains electronics and IT portfolio, spearheading success in electronics and semiconductor manufacturing. He also oversees the enactment of the Digital Personal Data Protection Act and holds the railway ministry along with the Information and Broadcasting ministry.
Growth needs to be made more socially equitable and inclusive: Navneet Munot
We had GDP growth of 8%. Inflation well contained. If you look at external sector, whether you look at our current account, whether you look at our balance of payment, whether you look at foreign exchange reserves in a good shape. Relative to rest of the world which is dealing with so many challenges, I think India stands out.
Ambrane to invest Rs 100 crore to increase localisation from 70 to 100%
Consumer electronics company Ambrane is determined to create 100% made in India products and is targeting Bharat and the global market.
Indian fertilizer industry on track to reach Rs 1.38 lakh cr by 2032 amidst robust growth and strategic innovations
In 2023, the Indian fertilizer market size stood at Rs 94,210 crore, driven by increased agricultural demands and strategic governmental interventions.
Industrial policy is back. Is this what India needs for an ‘atmanirbhar’ economy?
Mere rise in GDP growth numbers are not enough. What India needs to become a global manufacturing powerhouse is a well-outlined policy that gets the wheel spinning on job creation, skills and holistic growth — especially as the world tilts towards protectionism.
India's progress would have been faster, if borders were more secure, says NSA Doval
Delivering the Rustamji Memorial Lecture organised by the BSF on its 21st investiture ceremony, he said, "In the foreseeable future, I don't think our borders are going to be as secure as we will require for our fast economic growth. So, the responsibility on border guarding forces has become very, very heavy. They have got to remain on alert 24X7 in perpetuity. They have got to see that our national interests and country are protected."
Unpredictability in enforcement agencies action needs a check: ICEA chairman
While speaking about the achievement of the mobile industry in the last 10 years, India Cellular and Electronics Association (ICEA) Chairman Pankaj Mohindroo said that the next phase of growth in the country will come from exports and there is a need to build domestic champions in the sector as part of government's 'Atmanirbhar Bharat' (self-reliant India) plan.
India will have to find ways to reduce India Inc’s over-reliance on a belligerent neighbour
It is clear that the government will not opt for irrational curbs on imports because that can derail several industries. But it will have to find ways to reduce reliance on a belligerent neighbour that is relentlessly fortifying its position on the LAC.
FM Sitharaman bats for a bigger manufacturing play, looks to increase country’s share in global value chains
Finance Minister Nirmala Sitharaman advocated for a significant boost in domestic manufacturing to enhance India's self-reliance and integration into global value chains, rejecting the idea of solely focusing on services. Speaking at the Confederation of Indian Industry (CII) annual business summit, she emphasized the government's partnership with India Inc for national development. Sitharaman expressed confidence in Prime Minister Narendra Modi's re-election, planning to engage with CII post-elections for budget consultations.
India needs to focus on manufacturing, achieve greater sophistication: Nirmala Sitharaman to Indian Inc
Finance Minister Nirmala Sitharaman flagged the need for India to boost its manufacturing sector to achieve self-reliance and increase its share in the global value chain. She highlighted the importance of policy support and sophistication in product manufacturing to attract investment and reduce dependence on China. The minister also discussed the success of the PLI scheme in sectors like telecom and electronics, showcasing India's potential for growth and investment.
Shot by shot, Indian military is getting atmanirbhar
The government aims to increase India's annual defense production to nearly three times its current level, reaching Rs 3 lakh crore by 2028-29. Additionally, the target for defense exports is set to more than double, reaching Rs 50,000 crore compared to the current Rs 21,083 crore. For the fiscal year 2024-25, the goal is to achieve a total annual defense production worth Rs 1,75,000 crore, including exports valued at Rs 35,000 crore.
BSNL to launch 4G services across India in August; to use indigenous technology
State-owned BSNL will start rolling out 4G services across the country from August, using completely indigenous technology in line with the government's "Atmanirbhar" policy, according to official sources. BSNL officials claimed to have recorded peak speed of 40-45 megabit per second on the 4G network which has been rolled out in the premium spectrum band of 700 megahertz (Mhz) as well as in 2,100 Mhz band during the pilot phase.
Steel industry says surge in imports 'warning signal' for country's Atmanirbhar mission
The Indian steel industry is concerned about becoming a net importer of steel in 2023-24, a "warning signal" for the country's self-reliance. The country has registered a 38% surge in imported finished steel, compared to 6.022 MnT in the preceding fiscal. The Indian Steel Association (ISA) secretary general Alok Sahay called for urgent trade remedial action to arrest predatory imports and prevent China from using India's growth momentum for supporting its steel mills.
Guns N' Growth: Inside defence sector's explosive Make-In-India story
India's 'Make in India' defence production success story is evident in record-breaking defence exports, reaching Rs 21,083 crore in 2023-24, a growth of 32.5% from the previous fiscal. With a focus on indigenisation, India aims to triple annual defence production by 2028-29 and double defence exports to Rs 50,000 crore.
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