Indian Economy : News,Discussions & Updates

noksss

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Jan 9, 2019
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No one is crediting Smiriti Irani for the role she played in bringing together all the textile manufactures to make India the second largest PPE manufacturer in the world . She is one star performer who shines in whatever role given to her but wasted consistently

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BlackOpsIndia

Team StratFront
Dec 1, 2017
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No one is crediting Smiriti Irani for the role she played in bringing together all the textile manufactures to make India the second largest PPE manufacturer in the world . She is one star performer who shines in whatever role given to her but wasted consistently

View attachment 16276
She took fight to congressi fort and made Congress President lose, a significant damage, she will be forever haunted by ecosystem. She will get only malice, fake stories and constant harrassment and they will do everything to make her pay.

Whenever she was given important ministry trouble was created at so massive level that BJP had to demote her otherwise all their good work was getting eclipsed by her ministry and BJP gave in, maybe for betterment of both. Hey harsh tone and fighting spirit only keeps the issue alive so she was shifted.

Maybe few decades later she will be free from this but as for now it's better is she works from behind the curtain.
 
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Gautam

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Cabinet Approves Amendments In Essential Commodities Act, To Lift Regulations On Storage And Export

by Swarajya Staff - Jun 03 2020, 5:14 pm
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Farmers in a field in Madhya Pradesh. (Rajarshi Mitra/Wikimedia Commons)

The Union Cabinet approved amendments to the Essential Commodities Act to extend benefits to the farmers in the country, Union Minister Prakash Javadekar said on Wednesday (3 June).

“We have made farmer friendly amendments to the Essential Commodities Act,” he said.

Addressing the media at the cabinet briefing, Javadekar said, through the amendments, regulatory environment on agricultural products is going to be liberalised for farmers so that they can store or export their commodities without any restrictions and sell them at good price.

Food grains, oil, pulses, oilseeds, potato and other items have been removed from the Essential Commodities Act. “The farmer can now export or store these commodities as he wishes. These are our farmers’ demands pending for nearly 50 years now,” he said.

Terming it a landmark move to benefit crores of Indian farmers, Javadekar said the Act was formed (in 1955) at a time when there was shortage of agricultural production in the country. However, a law to put restrictions on farmer was not required now when in fact there was excess of production, the Minister said.

However, the Minister made it clear that during an emergency-like situation such as natural calamity or a war with another country can the regulations be re-imposed.

Prime Minister Narendra Modi on Tuesday had chaired the Cabinet meeting to decide on a number issues amid the ongoing COVID-19 crisis the country has been dealing with.

Union Minister for Agriculture Narendra Singh Tomar was also present at the press briefing.

 
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Gautam

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Foxconn, Oppo, others may go for 41k-cr PLI sops

ET Bureau|Last Updated: Jun 03, 2020, 09.08 AM IST

NEW DELHI: Top global players such as Foxconn and Wistron, manufacturers of Apple phones, Flex, Samsung, Oppo and Vivo are likely to apply for a production-linked incentive scheme (PLI) worth Rs 41,000 crore as part of India’s massive push to wean away companies from China and emerge as the world’s hub for electronics production.

“There are five to six companies which control 80% of smartphone manufacturing across the globe… initially, we wish to help (these) five global champions in establishing a wide manufacturing base in the country,” IT and telecom minister RS Prasad said at a briefing Tuesday. “The scheme will also initially help develop five domestic champions.”

Prasad dispelled concerns that India’s policy of self-reliance was inward looking, saying, “A self-reliant robust India is not against any country,” and added that the government hopes to ramp up exports of mobile phones from the country to $110 billion from the current under $3 billion.

Tuesday, the government started inviting applications for three schemes—PLI, Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) and Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme—offering a total of Rs 50,000 crore worth of incentives to attract global mobile device makers and boost local companies for electronics manufacturing. The PLI scheme, under which Rs 40,951 crore can be given out as graded incentives to domestic as well as global companies over the next five years, makes a bulk of the offerings.

“We have achieved a modest success in making India the second largest manufacturer of mobile phones in the last six years and today we are announcing these schemes to make India the largest producer,” Prasad said.

Ajay Sahni, secretary at the ministry of electronics and information technology, added that India wants to achieve a significant ramp up in its electronics manufacturing base, in line with China and South Korea.

The minister didn’t divulge names of any companies that had evinced interest but officials said that all major global players including Apple, Samsung, Oppo, Vivo, Xiaomi, Foxconn, Wistron and Flex had shown interest in applying.

Mails to Apple, Samsung, Oppo, Vivo and Foxconn went unanswered.

Handset market leader Xiaomi's chief operating officer for India, Muralikrishnan B, said that the schemes, especially SPECS that helps overcome disabilities of manufacturing electronic components in India, “will provide the needed impetus to increase the manufacturing capacity of the country”.
Flex and Wistron, and industry associations such as India Cellular and Electronics Association (ICEA), which represents handset brands such as Xiaomi, Oppo, Vivo, Apple and Lava, and contract manufactures such as Foxconn, termed the development as a game changer for the industry.

In a statement, David Shen, CEO of Wistron India, said, “Wistron is looking forward to further expanding our customer base in India”. Wistron makes Apple iPhones on the outskirts of Bengaluru.

Arijit Sen, director at US contract manufacturer Flex, said that the industry must identify the low-hanging fruits which can be brought to India in the near term.

“We can't manufacture every part of every product. But the three areas in the ESDM (electronics system design & manufacturing) sector which can be brought to India in two years’ time are PCBAs (printed circuit board assembly), display and the energy source (or battery packs),” Sen said in an industry webinar on Tuesday.

Flex India runs three factories in India, which manufacture smartphones for Xiaomi, Motorola and Lenovo.

Sen added that India needed to revisit some free-trade agreements (FTAs), which allow zero duty export to India. “For example, due to the Indo-Asean FTA, many countries are routing their products to India via Vietnam.”

Hari Om Rai, chairman of domestic handset brand Lava, said the schemes would help the company to acquire skills and technologies for global competitiveness.

Contract manufacturer Dixon, which currently manufactures for Samsung, Xiaomi and Panasonic, said it is going through the guidelines and will soon apply for the scheme.

Under the PLI scheme, to avail the graded incentives ranging between 4% and 6% over a five year period, foreign manufacturers will have to produce high-end phones (with freight on board value of more than $200) of more than Rs 4,000 crore over and above their production level in the base year.
In the second, third, fourth and fifth years, manufacturers will have to produce phones worth Rs 8,000 crore, Rs 15,000 crore, Rs 20,000 crore and Rs 25,000 crore over the base year production value to avail the incentives.





Besides Mobile phones, the specified components that will be covered under the scheme include

  • SMT(Surface Mount Technologies) components,
  • Discrete semiconductor devices including transistors, diodes, thyristors, etc.
  • Passive components including resistors, capacitors, etc. for electronic applications Printed Circuit Boards (PCB), PCB laminates, prepregs, photopolymer films, PCB printing inks
  • Sensors, transducers, actuators, crystals for electronic applications
  • System in Package (SIP)
  • Micro / Nano-electronic components such as Micro Electromechanical Systems (MEMS) and Nano Electromechanical Systems (NEMS)
  • Assembly, Testing, Marking and Packaging (ATMP) units
 
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Nikhil

nik141993
Dec 1, 2017
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absolute poverty has increased many folds all over the country. It's time this soot boot baniya government do something for the vulnerable specially women from poor families.
 

AbRaj

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screambowl

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Dec 19, 2017
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Does any one even here know what is the current dollar vs Inr or Euro Vs INR exchange rate?
1 dollar 75rs
1 euro 85rs
1 rmb 10rs

increase of 7-10 rupees past 4 years and straight 5rs increase in past 6 months. And Idiots want to fight with China.
 
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Aurora

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May 18, 2020
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Does any one even here know what is the current dollar vs Inr or Euro Vs INR exchange rate?
1 dollar 75rs
1 euro 85rs
1 rmb 10rs

increase of 7-10 rupees past 4 years and straight 5rs increase in past 6 months. And Idiots want to fight with China.
Do you know that cheaper currency is infact beneficial for local manufacturing industries??
 

Quicksilver

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Dec 6, 2019
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New york
Does any one even here know what is the current dollar vs Inr or Euro Vs INR exchange rate?
1 dollar 75rs
1 euro 85rs
1 rmb 10rs

increase of 7-10 rupees past 4 years and straight 5rs increase in past 6 months. And Idiots want to fight with China.
Chinese Yuan was
6.2 on Jue 12 2015
its 7.11 now.

deprecation of about 15%


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Inr was
64.09 on jun12 2015
75.98 on May 22 2019
deprecation of about 18%

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you are talking as if its between India and Pakistan

101.5 in jun 12 2015
163 on May 29 2020
deprecation of 61%

1591294680974.png


now tell me - can Pak fight India?
can India fight China?
 

Quicksilver

Active member
Dec 6, 2019
242
146
New york
“We have achieved a modest success in making India the second largest manufacturer of mobile phones in the last six years and today we are announcing these schemes to make India the largest producer,” Prasad said.

the announcement of this intent is just incredible. direct takkar to China.. now we know the reasons for the bullying tactics

absolute poverty has increased many folds all over the country. It's time this soot boot baniya government do something for the vulnerable specially women from poor families.
this your dream? or are there any numbers to prove the claim? :p