GLOBAL ELECTRONICS INDUSTRY
Newly launched defence mutual fund delivers 9% return in just 8 days
The Motilal Oswal Nifty India Defence Index Fund has shown an 8.62% return in the last eight days after collecting Rs 1,676 crore during its NFO period.
HDFC Defence Fund gave 145% return before restriction on fresh investment kicks in
The scheme is benchmarked against Nifty India Defence Index TRI. The fund aims to capitalise on the opportunities in the space and has seen good interest from investors. The government's focus on modernising its defence forces and push toward self-reliance should drive the long-term growth of the sector. As global geopolitical tensions rise, many nations are spending on enhancing defence capabilities.
India has deep expertise, scalability to become global player in semiconductor industry: IT secretary
Information Technology, secretary, S Krishnan said the government was helping industries to create the ecosystem to build the semiconductors. "The semiconductor industry is vital for the country and India has the talent, deep expertise and scalability to be a global player," Krishnan added.
Global IndiaAI summit: A few takeaways
The Global AI Summit focused on enhancing AI development across various domains such as compute capacity, foundational models, datasets, application development, future skills, startup funding, and safe AI. These pillars represent the core of India's AI mission.
Samsung Electronics forecasts major Q2 profit jump
Samsung Electronics said Friday it expects second-quarter operating profits to rise more than 15-fold on-year as chip prices bounce back and demand for generative AI continues to grow. The world's largest memory chip maker said in a regulatory filing that its April-June operating profits were expected to rise to 10.4 trillion won ($7.54 billion), up 1,452.2 percent from 670 billion won a year earlier.
India's high input tariffs stifle smartphone export growth, industry calls for reductions & policy changes in Budget 2024
Union Budget: India's efforts to increase smartphone exports through the production-linked incentive (PLI) scheme face challenges due to high tariffs on input parts and barriers for global firms entering its value chains. Despite the PLI scheme's success in boosting smartphone production beyond domestic demand, these tariffs, averaging 7.4%, are significantly higher than in competitor countries like China's bonded zones where tariffs are 0%.
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Indian defence firms need to invest more in innovations and R&D to keep pace with global standards: Report
According to India Infoline Finance Limited (IIFL) report, these firms allocate only 1.2 per cent of their revenue to R&D, markedly lower than the global average of 3.4 per cent. This gap highlights a need for increased investment in innovation to keep pace with global standards.
India best emerging market story; haven't ever seen valuations and fundamentals so attractive: Mihir Vora
The US economy has been much better than expected. It has been stronger for longer and of course, then it also translates to higher interest rates for longer, probably, but the fact is that the US economy is doing quite well.
Synopsys will help Tata Electronics design custom chips
US-based chip design company Synopsys will help Tata Electronics in multiple aspects of its fab facility—India’s first—coming up in Gujarat and its assembly and testing unit in Assam, chief executive Sassine Ghazi told ET. Ghazi also met with Tata Electronics CEO Randhir Thakur and Tata Sons chairman N Chandrasekaran in Mumbai. He held talks with Ola Cabs chief Bhavish Aggarwal in Bengaluru.
Revving up: Fuelled by PLI, Indian automakers eye global EV space, targeting Europe & other developed markets
Indian auto manufacturers are seizing the export opportunity in the electric vehicle (EV) market, driven by increasing demand for cleaner mobility in developed countries and government support. Companies like Maruti Suzuki and Hero MotoCorp are gearing up to export their EV models to Europe, leveraging India's frugal manufacturing capabilities. With India's production-linked incentive scheme and alignment with global standards, automakers aim to challenge Chinese dominance in the EV sector and establish India as an EV export hub.
Karnataka committed to developing rural areas through cluster development initiatives, says Siddaramaiah
The Global Investor Meet - Invest Karnataka 2025 was a flagship investor event for the state of Karnataka, he added. “Through this event, we seek not only to showcase Karnataka’s technological prowess and manufacturing excellence, but also to position Karnataka on the global stage as a leading player in the global supply chain,” he said. The state, Siddaramaiah added, was a premier destination for global investments, being the second-highest recipient of FDI inflows in India, with 22% in the last 5 years cumulatively.
Industry executives a worried lot: Why India-China tensions are equal to a big headache for electronics makers
Indian electronics manufacturers have suffered $15 billion in production losses and 100,000 job cuts due to escalating tensions with China. Visa delays for Chinese executives are hindering the industry's expansion plans, leading to a $10 billion export opportunity loss and $2 billion in value addition loss. Government probes into Chinese companies operating in India have further impacted the sector.
Andhra & Naidu stocks beating PSU & Modi stocks hands down with Rs 20,000 crore boom
Andhra Pradesh and Chandrababu Naidu-related stocks have surged significantly post-elections, outperforming PSU and 'Modi stocks'. Traders are capitalizing on the momentum, with a focus on Naidu's role in the NDA government and growth potential.
Global demand revival: How is India poised?
As the global demand sees some revival, India must get its act together to make the most out of it.
Electronics cos charged up for big revenue boost, set to double revenues to $55 billion by FY2027
India's EMS industry revenues are projected to double to $55 billion by FY27, driven by local component sourcing. Apple, Samsung, Lenovo, and other global firms are set to expand operations in India.
From stuffed toys to sports cars, sales break gender rules
Gender norms are blurring in purchasing decisions, particularly in urban India, with more men and women adopting newer hats in their social and professional lives. Consumer goods companies are adapting their marketing strategies to address this change. Women are increasingly buying 'toys for boys', such as drones and remote-control cars, accounting for 25-30% of Hamleys' sales.
Listen closely: From Google smart speakers to Paytm soundboxes, these businesses are thriving in manufacturing
Making for others can be more lucrative than building a brand for themselves — this realisation has created a brigade of small contract manufacturers who are making India’s place prominent in the global electronics manufacturing services map.
Why imports from China are rising despite atmanirbhar Bharat initiatives
Imports from China is something India should monitor. But in some ways, this might be the way for the country to become a self-reliant economy.
Bosch leases 691k sq ft office space in Bengaluru for expansion
Bosch Global Software Technologies has leased 691,320 square feet of space in Bengaluru, India, to expand its operations. The property, located at Life Science Park in Electronic City, will seat around 8,000 employees and house the KPO operation under Robert Bosch. The lease is set to go live by the end of 2024. Bosch is a key partner in the global automotive industry and has the largest development centre outside Germany for end-to-end engineering and technology solutions.
Samsung Electronics union announces first-ever strike
Samsung Electronics in wage negotiations with union since January, failed to narrow differences, known for producing high-end memory chips for generative AI.
Electronics companies seek Rs 35,000-crore incentive plan for components
"The incentive scheme is needed to support growing demand for electronics components to the tune of $75-$80 billion by 2026, and $300 billion by 2032 to support $300 billion worth of electronics products manufacturing by 2026 and $1.2 trillion by 2032," the India Cellular & Electronics Association (ICEA), which represents top smartphone brands and manufacturing companies, said.
India’s electronic manufacturing service industry is humming — now to stick to the flight path
India's competitiveness will depend on continuing reforms, de-bureaucratisation, contract enforcement, effective dispute resolution mechanisms, last-mile facilitation, building of sectoral ecosystems, and governance law and order stability.
BIS certification must for sale of used imported electronic products: DGFT
In the Directorate General of Foreign Trade (DGFT) notification on May 20, the Centre has specified that import of second-hand products, whether or not refurbished, repaired or reconditioned, notified under the Electronics and Information Technology Goods (Requirement of Compulsory Registration) Order, 2021, is prohibited unless they are registered with BIS and comply with the labelling requirement published by BIS.
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 to be $1 trillion digital economy by FY28: IT minister Rajeev Chandrasekhar
The government earlier expected India to reach the $1 trillion-mark by 2026-27 but the target has been moved by a year due to various reasons, including the Covid-19 pandemic, IT minister Rajeev Chandrasekhar said.
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.
Taiwan is selling more to the US than China in major shift away from Beijing
Taiwan is shifting its focus away from China, the world's second-largest economy, and towards the United States. The world's largest computer chip maker, TSMC, announced bigger investments in the U.S. last month after a boost from the Biden administration. Taiwanese semiconductor company ended its two-decade-long run in mainland China amid a global race to gain the edge in the high-tech industry.
Global chips battle intensifies with $81 billion subsidy surge
The concern over China’s rapid advances in key electronics turned into a full-scale panic during the pandemic because chip shortages emphasised the significance of these tiny devices for economic security.
Industry asked to name items from areas where India can be self-reliant
The fact that India's exports between April and January of FY24 were $3.7 billion and its imports, primarily from Russia's crude oil imports, were $51.7 billion, is what worries New Delhi. Additionally, the bloc has free trade agreements with Iran, China, Vietnam, and Serbia; these agreements may have an effect on the competitiveness of Indian industry in any of the EAEU markets.
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