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<ul><li><keyword id="6354427" type="General" weightage="20" keywordseo="apple" source="Orion">Apple</keyword> is expected to start the production of the <keyword id="10609587" type="General" weightage="20" keywordseo="iphone-14" source="Orion">iPhone 14</keyword> in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> by October this year.</li><li>The company has been ramping up its production in India.</li><li>This will be the first device from the company that will be shipped out of India within two months of its launch.</li></ul>Apple has been ramping up its production in India over the years since the company started producing devices in the country in 2017. The company is expected to start producing the upcoming iPhone 14 in India soon after it launches the device. According to a <a href="https://www.bloomberg.com/news/articles/2022-08-23/apple-s-new-iphone-14-to-show-india-closing-tech-gap-with-china">report</a> by Bloomberg, the Cupertino giant will start producing the iPhone 14 in India as soon as October or November. The company started the <a href="https://www.businessinsider.in/tech/mobile/news/tech-giant-apple-confirms-manufacturing-iphone-13-in-india/articleshow/90770312.cms">production</a> of the iPhone 13 in India over six months after it had unveiled the device. Apple is expected to unveil the <a href="https://www.businessinsider.in/tech/mobile/news/iphone-14-series-to-launch-soon-launch-date-specs-and-everything-you-need-to-know/articleshow/93653970.cms">iPhone 14 series</a> globally on September 14, and as per analysts, the company will start production of the device in India two months after its release. This is part of the company’s diversification of its supply chain amid clashes between the US and Chinese governments and <a href="https://www.businessinsider.in/tech/news/apple-is-looking-to-expand-production-outside-of-china-amid-beijings-zero-covid-policies-report-says/articleshow/91715814.cms">frequent lockdowns</a> in China that have impacted its production. Apple’s devices in India are produced at the Foxconn plant in Chennai. Analyst Ming-Chi Kuo had expected Apple to ship the iPhone 14 from China and India at roughly the same time, but Apple and Foxconn reportedly concluded that this may not be possible for now. The companies, however, plan on producing and shipping future devices simultaneously from India and China. The initial batch of the iPhone 14 is expected to be finished in October or November. The companies have set a target for Diwali, which is on October 24. According to the report, one of the major issues around producing iPhone devices is the secrecy that Apple maintains around its devices. Analysts feel the company might find it difficult to maintain strict controls in a second country. Apple’s executives in India have reportedly considered cornering a section of Foxconn’s assembly lines in the country and scrutinising the employees that work on the production lines. “The drastic security controls and stringent seclusion of its China facilities would be challenging to replicate,” a person familiar with the matter told Bloomberg. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/this-app-makes-a-noise-every-time-your-computer-sends-data-to-google/articleshow/93724731.cms">This app makes a noise every time your computer sends data to Google</a> <a href="https://www.businessinsider.in/tech/mobile/news/four-out-of-five-smartphones-sold-in-india-were-from-chinese-companies/articleshow/93701715.cms">Chinese smartphones continue to lead the market share despite crackdown by the Indian government</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-14-series-to-launch-soon-launch-date-specs-and-everything-you-need-to-know/articleshow/93653970.cms">iPhone 14 series to launch soon – launch date, specs and everything you need to know</a>

The upcoming iPhone 14 may be produced in India by Diwali this year

<ul><li><keyword id="6355629" type="General" weightage="80" keywordseo="google" source="Orion">Google</keyword> is reportedly considering production of <keyword id="576817" type="General" weightage="100" keywordseo="pixel" source="Orion">Pixel</keyword> smartphones in India.</li><li>The company is expected to produce up to 1 million devices in the country.</li><li>Google is scheduled to introduce the Pixel 7 and the Pixel 7 Pro on October 6.</li></ul>Google is all set to introduce its new flagship smartphones, the <a href="https://www.businessinsider.in/tech/news/google-pixel-7-pixel-7-pro-and-pixel-watch-to-be-launched-on-october-6/articleshow/94047138.cms">Pixel 7 and the Pixel 7 Pro</a>, at its Made by Google event on October 6. Ahead of the launch, a report has revealed that the company is considering starting manufacturing Pixel devices in India. According to a <a href="https://www.theinformation.com/articles/google-plots-pixel-phone-assembly-in-india-amid-china-lockdowns">report</a> by The Information, Google is considering moving some of the production of Pixel smartphones to India amid production disruptions in China due to the COVID-19 lockdowns and heightened tensions between Beijing and Washington. The report has claimed that Alphabet has requested bids from manufacturers in India to produce 500,000 to 1 million devices, which is around 10 to 20% of its annual production. Sundar Pichai, the company’s chief executive officer, reportedly reviewed a plan for Pixel phones production in India earlier this year, but the company has yet to decide. It is to be noted that even if the company moves the production to India, components will still be imported from China. In addition to India, the company is reportedly considering manufacturing in Vietnam. <cmsannotation type="cmsannotation" annotationid="Google may follow Apple’s footsteps" comment="subhead" text="Google may follow Apple’s footsteps">Google may follow Apple’s footsteps</cmsannotation> Apple recently introduced the <a href="https://www.businessinsider.in/tech/news/heres-how-much-the-iphone-14-new-apple-watches-and-the-airpods-pro-2nd-generation-will-cost-in-india/articleshow/94060771.cms">iPhone 14</a> series in India, and a <a href="https://www.businessinsider.in/tech/mobile/news/the-upcoming-iphone-14-may-be-produced-in-india-by-diwali-this-year/articleshow/93728321.cms">report</a> last month revealed that the company would start producing the device in India soon after the launch. <div type="Article" hostid="261" msid="94060331" title="Here’s everything new on the iPhone 14 and 14 Pro — Dynamic island, satellite connectivity, always-on display and more" mstype="2" mssubtype="0"></div> According to the report, the Cupertino giant will start the production of the devices in India within two months as part of the company’s diversification of its supply chain amid clashes between the US and Chinese governments and <a href="https://www.businessinsider.in/tech/news/apple-is-looking-to-expand-production-outside-of-china-amid-beijings-zero-covid-policies-report-says/articleshow/91715814.cms">frequent lockdowns</a> in China that have impacted its production. At the moment, it is unknown whether Google will manufacture the flagship Pixel devices in the country or affordable devices like the Pixel 6A. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-11-pro-spotted-with-an-alert-slider-and-a-redesigned-camera-setup/articleshow/94157444.cms">OnePlus 11 Pro spotted with an alert slider and a redesigned camera setup</a> <a href="https://www.businessinsider.in/tech/news/heres-how-much-the-iphone-14-new-apple-watches-and-the-airpods-pro-2nd-generation-will-cost-in-india/articleshow/94060771.cms">Here’s how much the iPhone 14, new Apple Watches and the AirPods Pro 2nd generation will cost in India</a> <a href="https://www.businessinsider.in/tech/gadgets/news/boat-noise-boult-mivi-ptron-companies-dominate-the-tws-segment-with-over-70-of-the-market-share/articleshow/94024965.cms">Indian companies dominate the TWS segment with over 70% of the market share, but domestic manufacturing remains at 16% at best </a>

Google is considering manufacturing up to a million Pixel smartphones in India, says report

iPhone maker <keyword id="19894961" type="General" weightage="20" keywordseo="Apple" source="keywords" meta.keywordsubtype="org" meta.entityname="Apple" meta.hostid="153" meta.entityid="Apple">Apple</keyword> through its vendors is expected to employ over 5 lakh people in India over the next three years, according to government sources. At present Apple's vendors and suppliers employ 1.5 lakh people in India. Tata Electronics, which runs two plants for Apple, is the biggest job generator. "Apple is accelerating hiring in India. At a conservative estimate, it is going to employ five lakh people in the next three years through its vendors and components suppliers," a senior government officer told PTI. When contacted, Apple declined to comment on the projection. Apple has plans to scale up production in India by over five-fold to around USD 40 billion (about 3.32 lakh crore) in the next 4-5 years. According to market research firm Counterpoint Research, Apple led the India market with the highest revenue in 2023 for the first time, while Samsung topped the chart in terms of volume sales. The firm in its recent report said Apple surpassed the 10-million-unit mark in shipments and captured the top position in revenue in a calendar year for the first time. Apple's iPhone exports from India rose sharply to USD 12.1 billion in 2023-24 from USD 6.27 billion in 2022-23, representing a massive surge of nearly 100 per cent, according to trade intelligence platform The Trade Vision. The total smartphone exports from India surged to USD 16.5 billion in 2023-24, up from USD 12 billion in the preceding year. This surge underscores the broader impact of Apple's presence on the industry, driving growth and innovation in the Indian manufacturing ecosystem, the company stated. "Apple's decision to ramp up its manufacturing operations in India has been motivated by various factors, including the need to diversify its supply chain, mitigate risks associated with geopolitical tensions, and capitalise on India's burgeoning consumer market. According to the trade intelligence platform, the presence of India-made iPhones in the US market has been steadily gaining momentum, marking a significant stride in Apple's strategic shift of its global manufacturing base to India. With inputs from PTI. SEE ALSO:<a href="https://www.businessinsider.in/business/telecom/news/telecom-companies-may-hike-tariffs-by-up-to-17-after-the-general-elections-as-per-analysts/articleshow/109240274.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/telecom-companies-may-hike-tariffs-by-up-to-17-after-the-general-elections-as-per-analysts/articleshow/109240274.cms" target="_blank">Telecom companies may hike tariffs by up to 17% after the general elections, predict analysts</a><a href="https://www.businessinsider.in/tech/news/playstation-5-is-now-available-at-a-discount-of-10000-for-a-limited-period/articleshow/109183034.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/playstation-5-is-now-available-at-a-discount-of-10000-for-a-limited-period/articleshow/109183034.cms" target="_blank">PlayStation 5 is now available at a discount of ₹10,000 for a limited period</a><a href="https://www.businessinsider.in/business/auto/news/ev-sales-expected-to-grow-by-over-65-in-2024-double-its-overall-market-share/articleshow/109155691.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/ev-sales-expected-to-grow-by-over-65-in-2024-double-its-overall-market-share/articleshow/109155691.cms" target="_blank">EV sales expected to grow by over 65% in 2024, double its overall market share</a>

Apple may employ 5 lakh people in India in 3 years as it looks to boost India production

LG Electronics India celebrated its 18th anniversary today with its LG Life’s Good Happiness Study. 
 
The Korean electronics brand arrived in the country in January 1997, and has expanded its products base to segments across consumer electronics, IT hardware and mobile communications. 
 
The event was graced by Managing Director Soon Kwon, Chief Marketing Officer Niladri Datta and TV Star Mandira Bedi. 
 
“We believe in making consumer experience more seamless and enjoyable. There’s a continuous endeavor from our side to innovate, and design products Indians love”, Niladri Datta, Corporate Marketing Head, LG Electronics India said. 
 
(Image credit: Wikimedia Commons)

LG Electronics just turned eighteen in India

The insurance sector is expected to fly high with the opening up of FDI in the sector. Industry players expect innovation and new insurance products to come in the market, thus giving consumers a wider variety of choices. However, until now, the the $66.4 billion industry has been driven by only a handful of insurance products. BI India brings you some of the popular insurance products in the market and the reason behind their undisputed domination. 
 
<keyword id="514336" type="ORGANIZATION" weightage="20" keywordseo="Endowment-Plan">Endowment Plan</keyword> 
 We all buy a life insurance policy the moment we get our first job. A buyer is often lured into buying a life insurance product through its tax benefits. <keyword id="161880" type="PERSON" weightage="20" keywordseo="Yashish-Dahiya">Yashish Dahiya</keyword>, co-founder of <keyword id="161885" type="COMPANY" weightage="20" keywordseo="Policy-Bazaar">Policy Bazaar</keyword> says, “Traditional policies including endowment and term plan sell more because all non-online channels in insurance companies only sell traditional plans. This is primarily because of the commissions that they would normally make by selling it.” 
 
He further explained that traditional life insurance policies offer short term gains to the consumers which include getting a loan against their policy. “In addition to this, traditional plans offer guaranteed benefits to customers vis-à-vis equity-linked investments. The fact that investment under traditional plans is mostly made in specified government and corporate securities, makes them less risky and more suitable for people with lower-risk appetite,” adds Dahiya. 
 
<keyword id="44600" type="CITY" weightage="20" keywordseo="ULIP">ULIP</keyword> 
 
Unit Linked Insurance Product or commonly known as ULIP have recently started become popular. The new version of ULIPs that was first introduced in 2014 has been gaining popularity amongst retail investors. It offers dual benefit of life cover as well as investment. 
 
Besides, with the onset of online distribution of ULIP, the premium charges have sharply dropped - with no charges for premium allocation, policy admission or discontinuance, except 2.25% fund management charge per annum (for the first 10 years of holding) and mortality charges. According to industry experts, at present, some of the ULIPs cost less than mutual funds. 
 
“The flexibility extended by ULIP has been attracting significant number of investors. ULIPs provide investors an option to invest either in debt funds, equity funds or hybrid funds. Each of these funds has a different level of risk attached to it and you could choose to invest in either of these funds as per your risk appetite. It also gives investors the option to switch between funds with no tax implications whatsoever,” notes Dahiya. 
 
Motor Insurance 
 
Industry players believe that motor insurance is one of the most popular insurance products as it is mandatory to buy one at the time of purchase of the car. However, when compared with health insurance, the premium amount for motor insurance is relatively lower than that for health insurance. This too is also believed to have contributed in making motor insurance more popular than health in India. 
 
Health insurance 
 
Even though India still ranks low globally when it comes to health insurance, industry players have noted that this insurance product is fast gaining popularity. Market estimates suggested that health insurance is the fourth biggest insurance product, next only to motor insurance. 
 
Property Insurance: 
 
Natural calamities as well as unexpected damages to property has boosted this insurance product in the country. Industry players have attributed this trend to the improved awareness amongst people. “The very fact that most of the insurance companies introduced insurance plans that safeguards properties, commercial and personal assets against fire, reiterates its relevance and demand amongst people at-large,” elaborates Dahiya.

These are the Insurance
products that India invests in the most

Nestle’s Maggi noodles were found to be unsafe for consumption and the company was ordered to recall its noodles, <a href="http://www.businessinsider.in/searchresult.cms?query=Health+Minister+JP+Nadda+">Health Minister JP Nadda</a> said on Tuesday. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Maggi+">Maggi</a> noodles samples were found to be containing more than permissible limits of lead. "Samples of Nestle's Maggi noodles were found to be having more than the permissible limit of 2.5 ppm of lead and also violating the labelling requirements about presence of <a href="http://www.businessinsider.in/searchresult.cms?query=Monosodium+Glutamate+">Monosodium Glutamate</a> (MSG),” PTI reported, citing Nadda’s written reply in the <a href="http://www.businessinsider.in/searchresult.cms?query=Rajya+Sabha">Rajya Sabha</a>. 
 
On June 5, an order was issued by the <a href="http://www.businessinsider.in/searchresult.cms?query=Food+Safety+and+Standards+Authority+of+India+">Food Safety and Standards Authority of India</a> (FSSAI) directing <keyword id="6356830" type="CITY" weightage="100" keywordseo="Nestle-India">Nestle India</keyword> to recall its Maggi Noodles. The order was based on the test results taken from different states, confirming presence of lead beyond permissible limit, Nadda said. 
 
The FSSAI, on May 25 advised all the states and UTs to draw samples of the Maggi Noodles and get the same tested from authorised labs. 
 
The minister said that the FSSAI had also advised the Commissioners of Food Safety of all the states and UTs on June 8 to draw and test the samples of Noodles and allied products of other brands as well. 
 
He said that the implementation and enforcement of the Food Safety and Standards Act, 2006 primarily rests with the state and UTs. 
 
FSSAI regularly takes up the issue of enforcement of the provisions of the act with the state authorities through written communications and interaction during the meetings of the Central Advisory Committee (CAC). 
 
The CAC also comprises the Commissioners of Food Safety of all states and UTs for effective implementation of the Act and the rules and regulations there under, he said. 
 
Nadda added that surveillance, monitoring, inspection, random sampling and testing of food products are undertaken by the officials of food safety departments of states and UTs to ensure compliance with the standards laid down under Food Safety and Standards Act, 2006, Rules and Regulations. 
 
(Image: Reuters)

Government of India justifies Maggi ban. Says, it exceeded lead content and violated labelling rules

<ul><li><keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> has manufactured 2 billion smartphones between 2014 and 2022.</li><li>The country is now the second largest manufacturer of smartphones after China.</li><li>98% of the smartphones sold in India in 2022 were manufactured locally.</li></ul> The push to make India a hub for smartphone manufacturing as part of the Make in India initiative is yielding results. India has emerged as the second largest smartphone manufacturer after China. According to a<a href="https://www.counterpointresearch.com/india-mobile-phone-production/"> report</a> by Counterpoint Research, mobile phone production in India has crossed the 2 billion cumulative mark under the Make in India initiative during 2014-2022. <cmsannotation type="cmsannotation" annotationid="Increase in shipments" comment="subhead" text="Increase in shipments">Increase in shipments</cmsannotation> According to the report domestic production of smartphones is expected to hit 270 million this year, up from last year’s 250 million. Most smartphones sold in India presently are manufactured locally. Out of the 250 million smartphones produced last year, the country exported 20% of the devices. “In 2022, more than 98% of shipments in the overall Indian market were ‘Made in India’, compared to just 19% in 2014,” said Tarun Pathak, research director, Counterpoint Research. It’s not just production that has been on the rise, local value addition has also reached an all-time high. “Local value addition in India currently stands at an average of more than 15%, compared to the low single digits eight years ago,” Pathak added. “The government now intends to capitalise on its various schemes to make India a ‘semiconductor manufacturing and export hub’. Going forward, we may see increasing production, especially for <a href="https://www.counterpointresearch.com/global-smartphone-market-q1-2023-infographic/">smartphones</a>, as India gears to bridge the urban-rural digital divide and also become a mobile phone exporting powerhouse,” Pathak said. <cmsannotation type="cmsannotation" annotationid="Apple accounts for a huge chunk" comment="subhead" text="Apple accounts for a huge chunk">Apple accounts for a huge chunk</cmsannotation> According to a report by ET, Apple accounted for 25% of the total value of domestically manufactured smartphones in 2022, more than double the 12% in 2021. While Apple’s production has increased by 65% year-on-year in 2022, its value has increased by 162%. One of the reasons for this could be the increased sales of premium <keyword id="57315" type="General" weightage="50" keywordseo="iphones" source="Orion">iPhones</keyword>. <cmsannotation type="cmsannotation" annotationid="India records 23% CAGR" comment="subhead" text="India records 23% CAGR">India records 23% CAGR</cmsannotation> India has reportedly recorded a compounded annual growth rate (CAGR) of 23%. Huge internal demand, increasing digital literacy and government’s push are reported to be the top reasons for this growth. The Indian government has introduced schemes such as Phased Manufacturing Program (PMP), Make in India, <keyword id="8870884" type="General" weightage="50" keywordseo="production-linked-incentive" source="Orion">Production Linked Incentive</keyword> (PLI) and Atmanirbhar Bharat to increase local manufacturing. SEE ALSO: <a href="https://www.businessinsider.in/tech/gadgets/news/with-smartwatches-leading-the-pack-indian-wearables-market-grows-over-50-in-the-first-half-of-2023/articleshow/102638102.cms">With smartwatches leading the pack, Indian wearables market grows over 50% in the first half of 2023</a> <a href="https://www.businessinsider.in/finance/news/cash-card-or-talk-rbi-bats-for-conversational-upi-increased-offline-payments/articleshow/102599474.cms">UPI joins the AI bandwagon, offline payments get a push</a> <a href="https://www.businessinsider.in/business/auto/news/auto-sales-slip-5-percent-in-july-companies-build-up-inventory-ahead-of-the-festive-season/articleshow/102494498.cms">As auto sales slip in July, dealers pin hopes on upcoming festive fervour</a>

India crosses the 2 billion mark in its journey to become a smartphone manufacturing powerhouse

McKinsey, Facebook, Amazon, Nokia — and some other companies looking for a product manager right now

<ul><li><keyword id="6354427" type="General" weightage="100" keywordseo="apple" source="Orion">Apple</keyword> has started manufacturing components for <keyword id="1660289" type="General" weightage="80" keywordseo="airpods" source="Orion">AirPods</keyword> in India.</li><li>A supplier of the company is manufacturing enclosures for AirPods.</li><li>The components are being exported to Vietnam and China.</li></ul> In a push to domestic manufacturing, Cupertino tech giant Apple has reportedly started manufacturing components for AirPods in the country. This is part of the company’s strategy to diversify its production across countries, reducing its dependence on China. According to a<a href="https://www.bloomberg.com/news/articles/2023-01-30/apple-supplier-in-india-begins-making-airpods-parts-for-export"> report</a> by Bloomberg, Jabil Inc., a major Apple supplier in the country has started manufacturing components for AirPods as part of the company’s push to expand production in India. This comes after Apple started manufacturing<a href="https://www.bloomberg.com/news/articles/2023-01-30/apple-supplier-in-india-begins-making-airpods-parts-for-export"> iPhone 14</a> in the country soon after its launch. <cmsannotation type="cmsannotation" annotationid="AirPods second device to be partially manufactured in India" comment="subhead" text="AirPods second device to be partially manufactured in India">AirPods second device to be partially manufactured in India</cmsannotation> So far, Apple’s production in India has been limited to iPhones. With the production of components for AirPods, the true wireless earbuds have become the second Apple device to be partially manufactured in India. The components reportedly being manufactured are the enclosure or plastic bodies, so there is still some time before the AirPods can be fully manufactured in the country. These enclosures are reportedly being exported to Vietnam and China. While there’s still some time before AirPods is fully manufactured in India, the government has been pushing for domestic manufacturing and has also provided initial clearances to over a dozen Chinese suppliers to set up joint ventures with Indian companies and begin production. Luxshare Precision Industry Co Ltd., a major Apple supplier that makes AirPods is among the dozen companies that have received approval to begin operations in India. The Indian government is planning to offer financial incentives as part of its production linked incentive (PLI) scheme for production of wireless earphones and smartwatches. Apple has been pushing iPhone production in India for some time now. A recent<a href="https://www.businessinsider.in/tech/mobile/news/40-of-indias-mobiles-export-in-2022-23-are-iphones-india-g20-sherpa-amitabh-kant/articleshow/96471669.cms"> report</a> had revealed that around 40% of smartphone exports in 2022-2023 were by Apple. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/apple-launches-macbook-pro-and-mac-mini-with-new-m2-chipsets-in-india-price-specs-and-features/articleshow/97080949.cms">Apple launches MacBook Pro and Mac mini with new M2 chipsets in India – price, specs and features</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-13-becomes-the-best-selling-smartphone-in-india-in-q4-2022-first-iphone-ever-to-join-the-list/articleshow/96794819.cms">iPhone 13 becomes the best-selling smartphone in India in Q4 2022, first iPhone ever to join the list</a> <a href="https://www.businessinsider.in/tech/mobile/news/made-in-india-smartphone-shipments-decline-by-8-amid-decline-in-demand/articleshow/96562322.cms">Made in India smartphone shipments decline by 8% as consumer demand declines: Counterpoint</a>

After iPhones, Apple reportedly starts manufacturing components for AirPods in India

<ul><li>The total rain from south west monsoon has been 40% less than the average.</li><li>The deficit is as high as 56% in south India and farmers have been asked to avoid sowing for crops like rice that need a lot of water.</li><li>Central India comes a close second with a rain deficit of 41% until June 19.</li><li>The crisis in rural India may become a significant factor in the upcoming budget.</li></ul> India is already suffering from a severe water shortage in many parts of the country and the rain Gods have not been merciful yet. That would put pressure on the Narendra Modi government, particularly on Finance Minister Nirmala Sitharaman, ahead of the upcoming budget to ensure the rural distress in the country does not worsen any further. The total rain from south west monsoon has been 40% less than the average. The deficit is as high as 56% in the southern peninsula --Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, and Goa. The central parts of the country, states like Madhya Pradesh, Maharashtra and Chhatisgarh, come a close second with a rain deficit of 41% until June 19. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 The shortage is therefore the worst in the rice growing areas and therefore the farmers have either delayed or reduced the sowing of crops like rice, sugarcane and cotton, all of which need a lot of water, according to government data. This is part of the government's contingency plan in the 648 worst-hit districts of the country. What's worse, farmers have <a href="https://economictimes.indiatimes.com/industry/indl-goods/svs/chem-/-fertilisers/fertilisers-to-turn-10-costlier-as-potash-rates-rise/articleshow/69657956.cms" data-type="tilCustomLink" target="_blank">to pay up to 10% more for fertilisers</a> this sowing season, than what they paid last winter, thanks to a rise in global prices for potash due to stronger demand, the key raw material, and a weaker rupee. Tractor sales Expectations of a poor monsoon also affect the purchase of farm equipment like tractors. The impact has been visible already in the 15% fall in tractor sales in May compared to the same time last year. That's bad news for Mahindra and Mahindra, which makes nearly 31% of its revenue from tractors alone and things have been far from rosy for a while now. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 The gloomy expectations have been evident in the share price too, which has lost over 31% in the last one year. 
 
 
 
 
 
 
 
 
 
 
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 All eyes are now on the budget, and both the country's millions of farmers as well as companies like M&amp;M hope for some sort of relief package that soften nature's blow on the rural economy. There are some encouraging signs with the President Ram Nath Kovind announcing a ₹25 trillion fund to protect the rural economy. The income guarantee scheme of ₹6,000 a year has been extended to the country's 145 million farmers. India has also appealed to China to lower tariffs on agricultural exports from India. Rural consumption has already slumped sharply and a poor monsoon may only worsen it. The government will have to think of other measures to support the economic recovery. SEE ALSO: <a href="https://www.businessinsider.in/there-is-a-lot-of-bad-news-that-modi-has-to-budget-for-this-year/articleshow/69635372.cms">There is a lot of bad news that Modi has to budget for this year</a> <a href="https://www.businessinsider.in/modi-government-sets-up-two-cabinet-panels-to-check-falling-gdp-employment/articleshow/69670523.cms">Modi government sets up two cabinet panels to check falling GDP, employment</a>

You Searched For "production india" and got 11 results

The upcoming iPhone 14 may be produced in India by Diwali this year

Sourabh Jain

Google is considering manufacturing up to a million Pixel smartphones in India, says report

Sourabh Jain

Apple may employ 5 lakh people in India in 3 years as it looks to boost India production

BI India Bureau

LG Electronics just turned eighteen in India

BI India Bureau

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