Mumbai-based Indian Semiconductor Manufacturing Company (ISMC) and Singapore-headquartered IGSS Ventures have one strategy in common: They have told the government in their application for semiconductor fabrication plants that they will export the bulk of the chips they make in India in the initial five or 10 years. The third applicant, Vedanta-Foxconn, which is also building a fab plant, has said it will concentrate on the needs of consumer electronics and mobile device markets, and earmark 80 per cent of output for domestic consumption, but has not specified its customers. Finding a viable domestic market could well be the biggest challenge for India's renewed tryst with semiconductors. Fab plants do not sell directly to end users but to intermediary chip design companies - such as Qualcomm or MediaTek.
Passenger and commercial vehicle prices are expected to rise as automobile companies invest in upgrading vehicles to meet stricter emission norms that kick in from April next year. The Indian automobile industry is currently working to make their products meet the second phase of Bharat Stage VI, equivalent to Euro-VI emission norms, in real time driving conditions. Four-wheeler passenger and commercial vehicles will need more sophisticated equipment to be added to meet the next level of emission standards.
A long and bitter funding winter in the start-up world is beginning to take its toll on start-up advertising across properties. Earlier this week, Mastercard replaced Paytm as the title sponsor for all international and domestic cricket matches organised by the Board of Control for Cricket in India (BCCI). But this is just one part of the story. The other side is that organisers of high-impact shows and events on Hindi general entertainment channels, too, are feeling the winter chill.
Sources said the reshuffle will also aim at an image makeover for the party hit by school jobs scam probe.
'General Anil Chauhan ticks all the right boxes as the new chief of defence staff.'
The 69-year-old leader, who is in the custody of the Enforcement Directorate, was taken to ESI hospital at Joka on the southern outskirts of Kolkata for a medical-check up during the day.
Maruti Suzuki India (MSI) on Thursday said its new manufacturing facility in Haryana, the company's third in the state, would reach peak production capacity of 10 lakh units per annum in the next eight years entailing a total investment of Rs 18,000 crore. The new facility, which would come at a 800-acre site at IMT Kharkhoda in Sonipat district, will entail total investment of Rs 11,000 crore in the first phase with a production capacity of 2.5 lakh units per annum. The first set of vehicles are expected to roll out from the facility in 2025.
These jobs don't necessarily require a degree in engineering or specialisation in coding.
The anticipated adverse impact on the economy and consequent uncertainty around employment prospects is likely to result in lower purchasing power.
Come October 1, merchants, payment aggregators and acquiring banks can no longer store the card details of customers.
India is unlikely to see a repeat of the 2021 energy crisis this festive season as coal-fired power stations across the country have comfortable levels of the fuel stock to meet electricity demand of the world's fastest expanding major economy.
Colourful lights illuminated buildings and earthen lamps dotted houses as people across the country celebrated Diwali with pomp on Monday after two years of muted festivities due to the pandemic.
Chatterjee, who was the state education minister when the scam took place, was arrested after around 26 hours of grilling in connection with the probe.
The Enforcement Directorate (ED) on Friday carried out simultaneous raids at the houses of around a dozen people, including two ministers, in connection with its investigation into the teacher recruitment scam and seized huge amounts of cash.
Glimpses of the pro-Ukrainian demonstration in London on Wednesday, February 16, 2022, as the United States warned of a Russian invasion of Ukraine.
The auspicious day of Akshaya Tritiya has begun on a strong note as jewellers are witnessing good footfalls and being a public holiday on Tuesday, consumers are flocking to the stores early before the temperature soars. "Jewellers across the country have opened their stores early across the country and there is a strong momentum in footfalls since morning. "There has been positive sentiment in the market since the last 10-15 days and we expect it to continue on the day of Akshaya Tritiya.
Prime Minister Narendra Modi arrived in Berlin on Monday on the first leg of his three-nation Europe trip during which he will hold detailed bilateral discussions with German Chancellor Olaf Scholz and co-chair the India-Germany inter-governmental consultations.
A looming global shortage of diesel in Europe presents India with more than one opportunity to profit from strong margins. A shortage of the fuel, a key contributor to inflation, has been exacerbated by the conflict in Ukraine, and western sanctions on Russian fuel supplies. The slowdown in natural gas supply means the West needs diesel to heat their homes this winter.
Indian auto industry's dependence on China is high and it will continue to be so in the BS-VI era and as the country moves towards electric mobility. Domestic players lack both technological competence and the sheer pricing advantage that support Chinese imports.
'... I didn't have an Instagram account!' 'I was told that the actor who's being considered in my place has a lot of followers, and that will help the producers.'
A tweet in Malayalam by Sheikh Mohamed bin Rashid Al Maktoum, vice president and prime minister of the United Arab Emirates and ruler of Dubai, soon after his meeting with Kerala Chief Minister Pinarayi Vijayan in the Emirates, has gone viral on social media as several expatriate Malayalis shared it on their virtual platforms.
'A good pipeline of movies is fuelling this trend of revenge consumption.'
Due to the group's presence across multiple businesses, it is in a unique position in the aviation industry to bring the best of talents.
Jio's Estonia arm and Finland-based University of Oulu have signed an agreement to collaborate for development of 6G technology as well as to foster entrepreneurship. The collaboration with the university is expected to extend Jio's 5G capabilities and will help explore use cases in the 6G era. Jio Platforms is the parent of telecom player Reliance Jio.
'The future is about autonomy and tanking.'
If other states follow suit, it is going to become difficult for the GST Council to decide on the next stage of reforms.
Domestic air passenger traffic remained 44 per cent lower in the April-December 2021 against the corresponding period of FY20, but saw a jump of 52 per cent year-on-year to 111 lakh in December 2021, according to rating agency ICRA. The total domestic passenger traffic had stood at 73 lakh in December 2020, according to a report by the rating agency. It also said that the emergence of new coronavirus variant and reactionary restrictions impacting air travel remain near term-challenges for the airline industry.
Even as India's internet base continues to widen, with the country set to have over 900 internet users by 2025, a parallel rise in cyber threats has become a matter of huge concern. Experts say that the sudden surge in digital adoption left little time to develop a cybersecurity backbone for the country. This has put large amounts of data at risk.
The asset quality of non-banking financial companies (NBFCs) deteriorated in April-September 2021 (H1FY22) owing to the second wave of the pandemic. Their gross non-performing assets (NPAs) rose to 6.8 per cent in September 2021 from 6 per cent in March 2021. The Reserve Bank of India's (RBI's) annual Trend and Progress report (FY21) said the sector might have to grapple with higher delinquencies as and when policy measures unwound. The pandemic posed significant challenges to NBFCs during the first wave (2020) also.
The country's exports for the first time crossed the $400 billion mark in a fiscal on healthy performance by sectors such as petroleum products, engineering, gems and jewellery, and chemicals, according to the commerce ministry's data released on Wednesday. The merchandise exports rose by by 37 per cent to $400.8 billion in 2021-22 until March 21 against $292 billion in 2020-21. Previously, the outbound shipments had touched a record of $330.07 billion in 2018-19.
Besides, the ongoing war between Russia and Ukraine has also added another blow to FMCG makers as they expect a rise in the prices of wheat, edible oil and crude. Companies such as Dabur and Parle are watching the situation and will undertake calibrated price increases to mitigate the inflationary pressures.
Passenger Vehicle makers are likely to see their cumulative earnings at an operating level erode by Rs 1,800-2,000 crore in the year ending March 2022 on account of the shortage of semiconductors, rating agency Icra said at a webinar on Wednesday. The industry, it pointed out, is estimated to lose production of 500,000 units at the end of FY22 due to the chronovc shortage the chip, which is critical in safety, entertainment and the various other smart features of a car. "In absence of the chip crisis, the industry volumes are likely to have exceeded the all-time peak annual volumes." Icra has pared its growth estimates for the PV market from the earlier 10-14 per cent to 8-11 per cent now in FY22.
'The government wants farmers to diversify from rice and wheat, and create another green revolution. Cannabis can play a big part in that'
Unless controlled and contained, given the untested belief that the north Indian labour support and follow the Hindutva kind of political ideology, there is a potential in terms of ideological clashes with their Dravidian brethren in the local neighbourhoods, and it all escalating into violence, especially during election time, predicts N Sathiya Moorthy.
Employee costs for Indian IT services players have touched an all-time high as salaries soar in their effort to retain talent. Engineer salaries are going through the roof. According to a news report, Infosys, which reported a 27.7 per cent attrition rate for the fourth quarter of FY22, plans to have an average salary hike of 12-13 per cent. High potential employees will get increases of 22-23 per cent.
The overwhelming feeling at the end of COP 27 was that despite decades of meetings and landmark accords, like the Paris Agreement, the world was still not doing enough to slow the climate crisis, observes Ambassador T P Sreenivasan.
Every twist and turn in KMC's civil service career is attributed to serendipity, an aptitude for making desirable discoveries by accident. He plays down his capabilities, which took him to the top of the civil service as the Cabinet Secretary or his misfortune in losing a daughter in her prime and suggests that his career was indeed serendipitous, observes Ambassador T P Sreenivasan.
China's deteriorating economy is a serious concern. Xi Jinping and China's new premier will have a difficult task ahead of them after the 20th party congress, notes Jayadeva Ranade, the retired senior RA&W officer and China expert.
The cloud market in India is expected to grow by 26% by the end of 2022.
The country needs 100 million jobs in the formal sector in the next decade to take advantage of its demographic dividend. Also, it should get into the global supply chain to generate many of those by negotiating trade deals effectively, industry players and experts have said. "We need something like 100 million jobs in the next 10 years, which means that the non-agriculture sector has to generate 14 per cent job growth every year," said Aditya Ghosh, co-founder of Akasa Airlines, at the Global Economic Policy Summit organised by the CII.
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