Recently, Prime Minister Narendra Modi met over 40 CEOs across broad swathes of industry, ranging from makers of mobile devices, auto components, food products to telecom networking equipment and pharmaceuticals. The agenda: To discuss how to make India an integral part of the global supply chain. The focus of the discussion would be the much touted yet not so well understood production-linked incentive scheme (PLI), the centrepiece of the government's drive to massively boost the manufacturing sector. To do so, the government has created a war chest of over Rs 197,000 crore to be paid out as incentives to over 14 industries in five years. There are three objectives to the scheme, two explicitly stated, one implied.
Over 10 Indian start-ups with total valuations of $84 billion (some are planning fresh fund-raising) are bracing to launch initial public offerings (IPOs) in the next 36 months. While the size of their IPOs is under discussion, estimates are that they would together raise a minimum of over $8-10 billion during the initial listing.
Several factors have held India back. One is DoT policy somersaults and lack of clarity on whether to or not to ban Chinese gear makers.
The Big Two telecom companies have accelerated their moves towards this next-gen technology, though they have chosen very different routes to getting there.
Today, Vachani's public-listed company, Dixon Technologies, has gone beyond manufacturing just television sets. Armed with private equity funding from Motilal Oswal eight years ago, it has transformed itself into a Rs 4,400 crore electronic manufacturing services major, which now straddles lighting products, home appliances, feature phones, LED bulbs, amongst others. A two-part series looks at how two home-grown manufacturers are leveraging the govt's production-linked incentive scheme.
Surajeet Das Gupta explains why Mukesh Ambani's target is by no means impossible.
Just a few weeks ago, the Centre has come out with the long-awaited Motor Vehicle Aggregator Guidelines, which have drawn a dismayed response from the companies concerned.
Bharti Global is planning to put up more satellites and has set a stiff deadline to launch commercial Internet services by October in the UK, Alaska, northern Russia and northern Europe.
In the year 2020 to date, these funds deployed capital worth a record $14.8 billion in India, which is nearly three times more than what they have put in China - $4.5 billion.
A stake sale of Reliance's real estate portfolio would help it raise anything between $1-5 billion and could be one of the triggers for the company's shares to break out.
Shravin Mittal's venture capital firm, Unbound Advisors, has made investments worth over $500 million so far
The move comes a few days after billionaire businessman Elon Musk tweeted that his Starlink internet services would be available in India as soon as it gets regulatory approvals next year. Musk's Starlink, which plans to have a constellation of 40,000 low-orbit satellites, recently started offering high-speed internet in the US as part of its beta launch phase.
Education technology, grocery, fashion, food delivery and UPI payments surpassed volumes or revenues of February, in the September-October period.
The good news for PepsiCo is that the foods segment has normalised much faster to pre-pandemic levels than beverages.
Analysts say that Jio's substantial slowing down in net additions is possibly because the company has dramatically reduced its bundled 4G feature phone offering, which contributed an average 30-40 per cent of its net additions.
The reduction in value of Chandra's assets comes close on the heels of the group's debt burgeoning to over Rs 12,000 crore, much of which he had raised by pledging his shares to banks and mutual funds in his flagship company ZEEL after many of the groups infrastructure bets did not take off.
A Dubai trip plus Apple iPhone 12 is cheaper than buying the phone in India. Various models of the iPhone 12 Pro and Max are cheaper in Dubai by up to Rs 35,000 owing to higher GST, Customs duty in India.
While only 78.15 per cent of Jio's total subscriber base was active, Airtel boasts of 98.14 per cent active customers.
By 2023, Vistara's hangars will house a total of 70 aircraft, up from the current 42.
The government gave clearance to five global and five Indian players that have made a commitment to a production value of 12.5-trillion phones in five years under the Production Linked Incentive scheme.
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