All stories by SURAJEET DAS GUPTA
Rs 26,400 cr on the cards for FAME-III
Rediff.com4 Jan 2024Based on discussions with stakeholders, the ministry is proposing to allocate Rs 26,400 crore for FAME-III subsidy alone with electric two wheelers getting around Rs 8,158 crore, electric buses Rs 9,600 crore and electric three-wheelers Rs 4,100 crore, according to sources in the know. Along with some other components like setting up an innovation fund and money for testing , the total allocation could cross Rs 33,000 crore, estimates suggest.
Electronics exports propelled by mobile show sharpest surge in top 10 club
Rediff.com3 Jan 2024Exports of electronics goods has risen by 24 per cent from April to November as compared with the same period in the last fiscal, the largest increase out of India's top 10 export categories. The increase has been propelled by mobile exports under the Production Linked Incentive (PLI) scheme and has pushed electronics up from sixth to fifth position in the top 10. A gap of $200 million separates electronics from occupying the fourth position, currently held by drugs and pharmaceuticals at $17.9 billion.
Ola Electric's Rs 5,500 cr IPO to bolster its EV market, say experts
Rediff.com1 Jan 2024Ola Electric's initial public offering (IPO), of Rs 5,500 crore, is essentially aimed at ensuring the company maintain its top position in the electric two-wheeler segment, with incumbent players TVS and Bajaj Auto giving a fight to the number one player in market share. Most experts and competitors say the amount being raised is in line with the investment required to expand the electric-vehicle (EV) business. There are two discernible trends in the competitive electric two-wheeler market.
India 15th in top 25 AI nations but has 'greatest upward potential'
Rediff.com27 Dec 2023India may be 15th among the top 25 Artificial Intelligence nations, but it has the 'the greatest upward potential' according to research by Tufts University's business school, the Fletcher School. At the top is the US, followed by China, fighting for global leadership in AI followed by the UK, Japan, and Germany. In the 15th spot, India is ahead of Brazil, Argentina, Indonesia, Mexico, Turkey, Indonesia and Thailand.
How govt's PLI scheme is fuelling Dixon's global dreams
Rediff.com27 Dec 2023Dixon Technologies right now is a beehive of activity. It is building a new facility in Noida to make 1.3 million laptops for Taiwanese PC maker Acer. The facility must be up and running in four months. The pace of activity will only increase. Last week Dixon won a similar contract from Lenovo, the Chinese personal computer maker and the third largest information technology (IT) hardware brand in India, to assemble laptops and notebooks. Though the clientele in these two cases is Taiwanese and Chinese, Dixon is a company reaching for the stars with its feet planted firmly in the Indian government's policy.
India The Next Big Travel Market
Rediff.com19 Dec 2023In outbound travel, India will be ahead of Italy, South Korea, Australia, Canada and France.
India's domestic aviation capacity soars beyond pre-pandemic level
Rediff.com12 Dec 2023The growth in India's domestic aviation capacity in calendar year 2023 (CY23) was the sixth highest among 20 major domestic markets, compared to the pre-pandemic year of CY19. The domestic capacity in the country surpassed the pre-pandemic level seen in CY19 and was up 5 per cent in CY23. It trails Mexico, Columbia, China, Vietnam, and Spain, which have shown higher growth, according to data shared in a seminar organised by global travel data provider OAG on global aviation trends in 2023.
Samsung Pushes Xiaomi To 3rd Spot
Rediff.com12 Dec 2023Counterpoint Research estimates that Xiaomi will end CY23 with a volume market share in CY23 to 15 per cent, pushing the Chinese company, which has faced numerous challenges and scrutiny from investigative agencies, to the third place.
Zepto claims 2nd spot in monthly active customers, surpasses JioMart
Rediff.com7 Dec 2023The Bengaluru-based quick-commerce application (app) Zepto is making big strides. According to Sensor Tower data, it surpassed JioMart in November, securing the second position among grocery apps in terms of monthly usage. This shift, identified by BofA Global Research, closely monitoring key segments of the app business, has pushed JioMart to third place in the grocery space.
Apple seeks more time to comply with EU norm in older iPhones
Rediff.com7 Dec 2023Apple Inc has requested the ministry of electronics and information technology (MeitY) to give it 18 to 24 months' exemption to comply with the European Union (EU) regulation of putting an USB charging port in all its older smartphones, mainly iPhone 13 and iPhone 14, which are assembled, exported and also sold in the domestic market. Apple's stance is different from that of Samsung, which has been pushing for an immediate implementation of the EU regulation. All smartphones by the South Korean giant already comply with the EU rules.
Rural push helps Bharti Airtel close in on Reliance Jio in AGR share
Rediff.com3 Dec 2023Bharti Airtel has quietly narrowed its adjusted gross revenue (AGR) market share gap with Reliance Jio, the country's largest player in the game, in the last three years. Despite Jio's aggressive entry into 4G and now into 5G, Airtel's gap with Jio, which was 6.4 percentage points in Q1 of FY21 and went up to 7.2 percentage points in Q1 of FY22, has fallen to only 4.4 percentage points in Q1 of FY24. Currently, Reliance Jio's AGR market share is 41.6 per cent while Airtel's is at 37.2 per cent.
Mobile Download Speeds May Surpass...
Rediff.com29 Nov 2023Most telcos say the speed will surpass fixed broadband as the 5G roll out, which is currently on 360,000 towers, crosses 400,000.
India's Share Of Global FDI Inflow Climbs To 4.2% in Q1 of FY23
Rediff.com26 Nov 2023This is despite the fact that total FDI into India has fallen by 22 per cent from $58 billion in FY22 to $46 billion in FY23, according to the Reserve Bank of India.
Coming Soon: More Auto Exits From India
Rediff.com23 Nov 2023Of the 15 car manufacturing companies in India, eight have a market share of below 2 per cent, raising questions about their long-term future in a competitive market that has already seen Ford Motors and General Motors slam the door on India.
Japanese investment giant SoftBank may partially exit Ola, Swiggy, FirstCry
Rediff.com18 Nov 2023Japanese investment giant SoftBank is looking to partially exit from three startups which are aiming at an IPO next year - Ola Electric, Swiggy and First Cry. But its decision will depend on the size of the offer for sale pool in each of the companies. According to sources aware of the strategy, Softbank invested over $850 million collectively in these companies whose value conservatively would go up more than 4.3 times to around $3.7 billion, based on preliminary estimates of their projected valuation when they go public next year.
Indians Work Harder Than Chinese, Americans
Rediff.com15 Nov 2023But Indians work less than smaller countries with small populations like Bhutan, the Congo, Lesotho and Gambia.
Wistron Deal: Tata Gets Global Reach, Apple Gets to Hedge Geopolitical Bets
Rediff.com14 Nov 2023The government's target of hitting $52 billion to $58 billion in mobile phone exports in FY26 has been faltering; an Indian corporate group with financial muscle will help.
Will Made In India Google Pixel Phones Sell Better?
Rediff.com30 Oct 2023Making the Pixel 8 in India will not necessarily bring the price down -- witness iPhones made in India that are more expensive than those in the US and Dubai.
North trails South in electric scooter sales
Rediff.com26 Oct 2023The state is also the biggest market for TVS, another incumbent player, and together with Bajaj Auto, they accounted for 88 per cent of Maharashtra's total electric scooter sales last month. As many as 8,417 units were sold in Maharashtra in September. Bajaj Auto's contribution was 4,048 vehicles and that of TVS was 3,389, according to model- and state-wise data from the Society of Indian Automobile Manufacturers (Siam).
Alternatives to China: Vietnam, India slug it out for semiconductor investments
Rediff.com16 Oct 2023India and Vietnam are vying with each other to woo semiconductor companies to their country. With the tension between the US and China escalating, and Taiwan getting vulnerable both countries are trying to present themselves as alternative destinations for global players. Vietnam, which started the effort as early as 2010, has got a leg-up after US President Joe Biden's visit last month.