STATE FOR ELECTRONICS
Kaynes, six others plan investment in Mysuru’s electronics cluster
State IT minister Priyank Kharge said Bengaluru will be the semiconductor design hub of the country but Mysuru will be a complementary cluster. Kaynes Technology has proposed an investment of Rs 150 crore on 20 acres land.
Uttar Pradesh receives proposals worth Rs 40,000 crore under new semiconductor policy
The Uttar Pradesh government said it has received project proposals worth over Rs 40,000 crore under its new scheme to incentivise semiconductor manufacturing. It also aims to rope in global investors.
South Korean firm HyVision System inks deal with Karnataka to build plant near Foxconn facility in Bengaluru
South Korean HyVision System signed an agreement with Karnataka on Friday to allow the company to build a factory for camera inspection machines. This unit will be near the Foxconn facility, which is close to Bengaluru's Kempegowda International Airport in Devanahalli.
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.
Telangana in talks with CDAC to set up 20 petaflops compute capacity in Hyderabad
Telangana has requested the IT ministry to establish compute capacity in the proposed AI city in Hyderabad under the National Supercomuting Mission, saying that the Centre for Development of Advanced Computing (CDAC) has shown interest for the same. If the government agrees, some land will be given to them to set this up, Telangana IT secretary Jayesh Ranjan told ET.
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.
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4th of July sales: Products you should buy and avoid, a complete guide
The 4th of July is a festive occasion for all US residents as it is on this day the US Independence Day is celebrated. Since the festivities begin on this day, there come along some amazing offers and sales deals for shopaholics on different shopping platforms.
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%.
MoU signed to set up 3 testing facilities in Chennai under Defence Testing Infra Scheme
The Ministry of Defence revolutionizes defence infrastructure with state-of-the-art facilities in Chennai. With a massive investment of Rs 400 crore under the DTIS scheme, led by Defence Minister Rajnath Singh, the MoU exchange in New Delhi sets the stage for cutting-edge testing facilities. Keltron, Bharat Electronics Limited, and India Optel Limited spearhead the initiative towards self-reliance in defence technology.
Puravankara acquires a 7-acre land parcel in Hebbagodi, Bengaluru, with potential GDV of Rs. 900 Crore
Real estate developer Puravankara has acquired a 7.26-acre land parcel in Hebbagodi, Bengaluru, for a luxury project, adding a potential GDV of over Rs 900 crore. With recent acquisitions in Mumbai, the group's total GDV is now Rs 1,550 crore. Strategically located near Electronics City, Hebbagodi is ideal for residential developments, catering to IT professionals. Puravankara plans to acquire 20 million sq ft of land by year-end for growth in Mumbai, Bangalore, and Delhi-NCR.
European jewellers using services of mega CFC for quality testing
The Mumbai-based mega common facility centre (CFC) in the special economic zone (SEZ) is now being used by European jewellers for quality testing. The facility, which was inaugurated by Prime Minister Narendra Modi in January, offers technical services like 3D printing, hallmarking, mass finishing, refining, and casting of gold, platinum, and silver.
Bharat Electronics Limited receives orders worth Rs 3,172 crore
BEL signed a Rs 3,172 crore contract with AVNL for Indian Army's BMP 2/2K tanks upgrade with indigenously designed system. Orders worth Rs 481 crore, including doppler weather radar, were secured. The accumulated orders this year are Rs 4,803 crore.
Priyank Kharge meets IT minister Ashwini Vaishnaw, requests Centre's support for state's chip firms
Karnataka IT minister Priyank Kharge met Ashwini Vaishnaw, union IT minister, to seek support for the state's semiconductor and electronics space. Kharge said that the State has the highest share of 46% in India in housing innovative companies and contributes 10% of India's industrial output.
After iPhone, Foxconn’s next big revenue project in India is AI servers
Contract manufacturer Foxconn said it has plans to begin manufacturing AI servers—the high-performance computing engines that train and run artificial intelligence (AI) models—at its Indian facilities, sources told ET.
More Taiwanese ICT suppliers may relocate to India in near future, says official
Anticipating the Taiwan Expo 2024, Chend envisions a robust platform for showcasing products and fostering business opportunities to enhance Taiwan-India trade relations, reflecting the significant growth in economic cooperation between the two nations.
How state governments are chipping in with housing support at new semiconductor hubs
State governments in Assam, Gujarat, and Tamil Nadu are supporting upcoming electronics and semiconductor manufacturing hubs by providing infrastructure, including housing for workers. The Tata Group is building mega-housing projects, hostels, and dormitories with subsidised land from Assam and Gujarat governments. In Tamil Nadu, the government is assisting the housing project at the Hosur plant where Tata Electronics assembles iPhone enclosures.
Can electronic voting systems be prone to hacking? What did Elon Musk say?
Entrepreneur Elon Musk has raised concerns over the electronic voting systems and said that it can be hacked using AI leading to loss of credibility in the electoral process. He has given the example of Puerto Rico.
India's electronic manufacturing likely to double in the next five years: Govt sources
India's electronic manufacturing is likely to double in the next five years, according to sources in the Ministry of Electronics and Information Technology. The country's electronic manufacturing is likely to reach around USD 250 billion in the next 5 years, said a source in the ministry.
Ashwini Vaishnaw, Jitin Prasada take charge of electronics and IT ministry
Ashwini Vaishnaw took charge as the union railway minister, minister of information and broadcasting, and Union minister of electronics and information technology. Jitin Prasada is the minister of state for electronics and information technology, succeeding Rajeev Chandrasekhar after switching from Congress to BJP.
Govts, tech firms vow to cooperate against AI risks at Seoul summit
More than a dozen countries and some of the world's biggest tech firms pledged on Wednesday to cooperate against the potential dangers of artificial intelligence, including its ability to dodge human control, as they wrapped up a global summit in Seoul. These dangers also include an AI model that could potentially "evade human oversight, including through safeguard circumvention, manipulation and deception, or autonomous replication and adaptation", they added.
Google picks southern Indian state for smartphone production
Google is set to invest billions in Tamil Nadu, India to produce smartphones and drones. The move follows a trend of tech companies, like Apple, shifting production from China. The state aims to boost advanced manufacturing, with Google's decision contributing to its transformation. This shift benefits India's economy and aligns with Prime Minister Modi's incentives to attract electronics manufacturers.
Govt saying aye to laying strong AI foundation
The government may rope in higher education institutes, key researchers for the model that can be customised for wide range of applications. It will be trained on publicly available data, digitised records of books, journals and research papers from public libraries.
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.
AP fire-hit Foxlink back on track with a new Tamil Nadu plant
Apple supplier, Foxlink of Taiwan, is setting up a new factory in Oragadam, close to Chennai. This move comes as part of a fresh expansion plan following a destructive fire at their facility in Tirupati, Andhra Pradesh, last year.
State-run cos thriving under PM Modi's leadership: FM Nirmala Sitharaman
A high-level expert panel on floor wages in India is set to re-examine the wage rates finalised earlier, considering minimum wages notified by all states across three categories. The panel, led by SP Mukherjee, will hold its final meeting on May 27 and submit its report to the new government by June 2024. The three-year term of the expert committee, established in 2021, will end on June 30, 2024. The report is expected to outline a roadmap for periodic review of floor wages based on updated data sets and methodology changes.
'Livestream' shopping thwarts some high-tech tools to stop fake merch
Livestream shopping in the U.S. faces challenges with counterfeit goods influx. Technology by platforms like TikTok and Amazon aims to combat fakes, yet copyright violations persist in live videos. Patent lawyers emphasize the need for improved detection methods.
States, Trai jump into the fray to regulate online gaming
MeitY's self-regulatory proposal for online gaming led to state laws in Tamil Nadu and Karnataka. Trai consulted on National Broadcasting Policy 2024. Challenges include defining skill-based gaming versus gambling and regulatory clarity in the online gaming industry.
This tax-saving ELSS fund gave 14.3% returns in five years; should you invest?
Axis ELSS Tax Saver Fund: This fund has undergone a shift in its investing stance in recent years. The big change is in the form of a more diversified portfolio (currently around 60 stocks), against the earlier preference for a compact portfolio of around 40 stocks. This has also reduced the heavy concentration at the top end of its portfolio, with the fund diluting positions in its top bets. It has also sizeably hiked its presence in mid-cap stocks, even as it retains a large-cap tilt. Should you invest?
World Bank looks for consulting firms to create state level DPI adoption index
This will be carried out with the ministry of electronics and information technology (MeitY) overseeing the process, an official aware of the matter told ET, adding that the last date for firms to apply is April 30.
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