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<ul><li>Skoda recently launched the Kylaq SUV, the company’s latest entry-level subcompact SUV.</li><li>The company has announced its plans to launch an electric vehicle in India in 2025.</li><li>The Skoda Enyaq EV’s updated version will debut in India next year.</li></ul>Skoda Auto will roll out its electric vehicle in the Indian market in 2025. In an exclusive interaction with ANI Skoda Auto Brand Director Petr Janeba says Skoda's European bestseller, the Enyaq EV, was initially slated for an Indian debut this year but postponed to next year for an updated version. Janeba says a significant facelift planned for the model in March has led the company to hold off until the new version, featuring Skoda's latest design language, is ready. He said, "We have one of the best-selling EVs in Europe our European Enyaq. The car was tested, and the car was prepared for India. We have actually stopped bringing the car this year. Because there will be a huge facelift of the Skoda Enyaq coming in March following the new design language." He added, "We actually can choose one of the three EV cars coming to India or all three." Skoda is closely monitoring India's changing EV policies, especially the CAFE3 (Corporate Average Fuel Economy) norms set to be introduced in April 2027. On further investment in India Janeba highlighted the importance of a consistent regulatory environment, as state-level EV and hybrid tax policies currently vary widely, impacting long-term planning. "And within this plan, we understand nobody can survive in India without having a deeper localised CKD EV in India. We are ready for this. We are ready in Pune to make another investment for the car and for the production to get it. At the end of the day, we still take our time in order to decide the right measure car for the market, seeing the new competitors coming on the EVs." Said Janeba Skoda already has two manufacturing units in India, in Chhatrapati Sambhaji Nagar and Pune. EVs are planned to be manufactured in their Pune plant For the production, he stated, "In the same factory in Pune, Chakan we will be producing EVs. Currently we have increased because of the Kylaq the production capacity in Pune to 250,000 units a year and we will be increasing further once it is needed either for the current cars because of the export or because of the Indian demand or for the new cars like EVs." The facility is also set to support EV production with deep localisation efforts to make Skoda's electric lineup more affordable for Indian consumers. Piyush Arora, India CEO, Skoda Auto echoed this sentiment, expressing confidence that Skoda's expanded product offerings will capture the growing sub-four-meter SUV segment, a category that represents nearly 30 per cent of India's automotive market. "With the new Kodiaq and other upcoming models, we are aiming for a 5 per cent market share in the medium term," he added. Skoda's commitment to India extends beyond manufacturing. Arora highlighted the company's investment in local engineering talent and its dealer and supplier networks. "Our technical centre in India plays a crucial role in developing products like the Kodiaq, which was fully designed in India," he noted, calling it a testament to India's engineering prowess and the company's long-term vision for the region. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/skoda-kylaq-suv-launched-in-india-starting-at-7-89-lakh/articleshow/115013668.cms">Skoda Kylaq SUV launched in India starting at ₹7.89 lakh</a> <a href="https://www.businessinsider.in/stock-market/webstories/swiggy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115004939.cms">Swiggy IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-indias-biggest-telco-to-go-public-in-2025-retail-ipo-further-away/articleshow/114944496.cms">Reliance Jio IPO – India’s biggest telco to go public in 2025, retail IPO further away</a>

Skoda plans to launch an updated electric vehicle in India in 2025

<ul><li><keyword id="6354427" type="General" weightage="20" keywordseo="apple" source="Orion">Apple</keyword> will be opening four new stores in India</li><li>The company will also manufacture <keyword id="19899647" type="General" weightage="100" keywordseo="iPhone-16" source="keywords">iPhone 16</keyword> in India</li><li>The <keyword id="20054650" type="General" weightage="20" keywordseo="Made-in-India" source="keywords">made in India</keyword> iPhones are expected to launch this month</li></ul> Apple has announced plans to open four new stores in India, expanding its presence in the country. The new locations will be in Pune, Bengaluru, Delhi-NCR, and Mumbai, a PTI report says. This follows the opening of Apple's first two Indian stores in 2023, one in Mumbai and the other in New Delhi. In addition to this, the tech giant also revealed that it will soon launch the <keyword id="20656465" type="General" weightage="20" keywordseo="iPhone-16-Pro" source="keywords">iPhone 16 Pro</keyword> and <keyword id="20746828" type="General" weightage="20" keywordseo="iPhone-16-Pro-Max" source="keywords">iPhone 16 Pro Max</keyword> models in India. In a statement, Apple’s Senior Vice President of Retail, Deirdre O’Brien, talked about the company’s excitement about the expansion. He said, "We're thrilled to build our teams as we plan to open more stores in India because we're inspired by the creativity and passion of our customers across this country. We can't wait for them to have even more opportunities to discover and shop for our amazing products and services, and connect with our extraordinary, knowledgeable team members." <h2>When will Apple launch Made in India iPhone 16 series?</h2> As per the PTI report, Apple announced that the iPhone 16 series smartphones will be now manufactured in India. "Apple is now manufacturing the entire iPhone 16 lineup, including iPhone 16 Pro and iPhone 16 Pro Max, in India," the statement said. The “Made in India” devices will be available locally and exported to select countries, with supplies expected to begin this month. Apple has been manufacturing iPhones in India since 2017, and this marks the first time the entire iPhone 16 lineup, including high-end models, will be produced domestically. The company's statement added, "Manufactured in India iPhone 16 Pro and Pro Max will soon be available for our local customers and for export to select countries across the world." <div type="Article" hostid="261" msid="113895239" title="Apple Diwali sale in India goes live: iPhones, Macbooks and Airpods get discounts" mstype="2" mssubtype="0"></div> <h2><keyword id="19941643" type="General" weightage="20" keywordseo="Apple-stores" source="keywords">Apple stores</keyword> in India </h2> Last year, Apple made headlines with the grand opening of its first two retail stores in India. The Mumbai store, located at Jio World Drive mall in Bandra Kurla Complex, opened on April 18, followed by the New Delhi store at Select Citywalk Mall in Saket. Both events attracted large crowds of Apple fans, and CEO Tim Cook was present at the openings, talking about the importance of the Indian market. Now, as the Cupertino-based tech giant is gearing up to open more stores in the country, it can be said that the move underlines Apple’s commitment to expanding its footprint in India, which is becoming an increasingly important market. According to the PTI report, people aware about the development say that the new stores are likely to be opened next year. <div type="Article" hostid="261" msid="113902265" title="Nvidia’s ChatRTX could be your alternative to ChatGPT for reading long documents, and it doesn’t need an internet connection" mstype="2" mssubtype="0"></div> During an investor call last year, Cook had highlighted Apple’s strong performance in India, saying that the company had achieved an all-time revenue record in the country. He had also said that India offers significant growth opportunities, with a growing middle class and increasing demand for premium products. Cook had also expressed optimism about the success of Apple’s Indian operations.

Apple to manufacture iPhone 16 in India, set to open new stores in Pune, Bengaluru

<ul class="summary-list"><li>Trump's tariff threats may boost Chinese exports as importers rush to beat tariffs.</li><li>Trump's proposed tariffs could lead to increased global manufacturing activity temporarily.</li></ul>US President-elect Donald Trump may be good for China's export business — at least temporarily.Trump, who <a target="_blank" class="" href="https://www.businessinsider.com/election-results-trump-harris-presidential-election-2024-11">won</a> the presidential election, has pledged to impose sweeping tariffs of 10% to 20% on imports to the US. He has threatened a 60% tariff on imports from China.His tariff threats are causing <a target="_blank" class="" href="https://www.businessinsider.com/trumps-tariffs-threats-world-ceos-thoughts-trade-2024-11">jitters</a> around the world. With Trump set to take office on January 20, factories globally may be working overtime to ship out as much as they can before any potential tariffs kick in, economists say."There could be real front-loading of activity ahead of the enacting of tariffs," said Joe Lupton, a senior global economist at JPMorgan, on a <a target="_blank" class="" href="https://markets.jpmorgan.com/research/email/scx/-miq4i59/b3efe732-ef66-49ae-ad3d-5390f5279831/KAL-1-87CAN94L">podcast</a> over the weekend."Just as businesses try to get ahead of that, you could actually see a little bit of pop in global manufacturing, China manufacturing, as we head into the first quarter," he added.The demand for imports, including those from China, could also come from the US itself."Trump's return could create a short-term boost to Chinese exports as US importers increase their purchases to get ahead of the tariffs," wrote Zichun Huang, a China economist at Capital Economics, in a Thursday note.Some of the front-loading may already be taking place.Exports from China grew 12.7% in October from a year ago — their fastest pace in two years and far higher than their 2.4% rise in September, according to official data. Several major ports in China faced delays in September due to a <a target="_blank" class="" href="https://worldwidelogisticsltd.com/2024/09/18/6908/">major typhoon</a> and the backlog spilled in October.<h2 id="194ec862-e0b6-4683-b8c7-95de349dd1e3">Exports could dip with focus on trade deficits</h2>Any a temporary boost in trade would just be that: temporary.Asian export growth could still dip into the negative zone in the second half of next year amid Trump's focus on reducing US bilateral trade deficits, wrote economists at Nomura in a Friday note.Six of the top 10 countries that run deficits with the US are Asian countries, including China, Vietnam, Japan, South Korea, and India."Higher US tariffs on Chinese exports could re-direct those exports into Asia, hurting local production," wrote the Nomura economists."More tit-for-tat trade retaliation, trade policy uncertainty and delayed policy easing in some Asian economies will also likely spill into domestic demand," they added.

Global manufacturing is poised for a temporary boom ahead of possible Trump tariffs, economists say

Luxury car maker <keyword id="19980471" type="General" weightage="20" keywordseo="Mercedes-Benz" source="keywords" meta.keywordsubtype="org" meta.entityname="Mercedes-Benz" meta.hostid="261" meta.entityid="Mercedes-Benz">Mercedes-Benz</keyword> India on Monday expanded its <keyword id="20763359" type="General" weightage="20" keywordseo="Battery-Electric-Vehicle" source="keywords">Battery Electric Vehicle</keyword> (BEV) range in the country with the launch of the locally produced <keyword id="23188212" type="General" weightage="20" keywordseo="EQS-580-4MATIC" source="keywords">EQS 580 4MATIC</keyword>. India is the first country outside the US to start the <keyword id="20805504" type="General" weightage="20" keywordseo="local-production" source="keywords">local production</keyword> of the seven-seater electric SUV. EQS SUV 580 4MATIC is the second model, after the EQS sedan, to be locally produced at company's Pune-based manufacturing plant. "This will be our sixth EV in India, and the second car to be locally produced in India. We are also proud that India becomes the first market out of the US to locally manufacture the EQS," Mercedes-Benz India Managing Director and CEO Santosh Iyer told PTI in an interaction. The move to manufacture the product locally outlines the company's commitment to electrification and increasing product portfolio offering choices to customers, he added. "EQS SUV's localisation underpins our deep commitment to grow the Indian <keyword id="23188213" type="General" weightage="20" keywordseo="luxury-electric-car" source="keywords">luxury electric car</keyword> market and reinforce our commitment for a greener and sustainable future," Iyer said. The move also supports the government's vision of Make-in-India, he said. Iyer said local production has led to a significant advantage in terms of pricing the electric SUV. The introductory price of EQS SUV 580 4MATIC starts at Rs 1.41 crore which should also make a lot of customers shift to EVs much faster in terms of transition, he said. When asked about the demand for green vehicles, Iyer said the sales of EVs were growing in the country with even high-end products finding acceptance. "The EQA sedan which was introduced in India around 18 months back, we have sold more than 500 cars. It's a car costing more than Rs 1.6 crore. Our total penetration of EVs is 5 per cent today, it's growing. For sure, customer acceptance is there," he stated. Iyer noted that the company remains committed to offer top-end luxury EV products offering higher range in the market. He noted that there may be more opportunities in the entry EV segment but the focus of the company firmly remains on bringing luxury products in the market. "To bring products at lower price points, that is not our current strategy," Iyer said. The company aims to offer products with higher driving range, a factor that leads to bigger battery and escalation in price, he added. The EQS SUV 580 4MATIC is India's longest range electric SUV with ARAI certified range of 809 kms. Iyer said the company remains committed to the Indian market and has announced an additional investment of Rs 200 crore earlier towards manufacturing operations, new product start-ups and digitisation of manufacturing processes. The company till date has invested over Rs 3,000 crore in India, he added. In the January-September period this year, Mercedes-Benz India has launched three new BEVs ' EQA, EQS SUV 580 and Mercedes-Maybach EQS 680 SUV. With the EQS SUV 580 4MATIC, the company now offers the EQA, EQB, EQE SUV, EQS SUV, EQS sedan and Maybach EQS SUV 680 in the market. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/arkade-developers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113384216.cms">Arkade Developers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-and-samsung-accused-of-colluding-with-amazon-and-flipkart/articleshow/113381204.cms">Xiaomi and Samsung accused of colluding with Amazon and Flipkart</a> <a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-neo-with-dimensity-7300-50mp-camera-launched-in-india/articleshow/113386868.cms">Motorola Edge 50 Neo with Dimensity 7300, 50MP camera launched in India</a>

Mercedes expands BEV range; rolls out second locally produced model in India

<ul class="summary-list"><li>China's EV giants left their European rivals in the dust at the continent's biggest auto show.</li><li>BYD, Xpeng, and Leapmotor unveiled new models at the Paris Motor Show despite looming tariffs.</li></ul>Automakers flocked to Paris for Europe's largest motor show this week — and China's EV giants were the star attraction.BYD, Xpeng, and Leapmotor showcased new vehicles at the Paris Motor Show, even as <a target="_blank" class="" href="https://www.businessinsider.com/chinese-electric-vehicles-european-tariffs-retaliation-vw-bmw-mercedes-tesla-2024-10">the European Union prepares to impose punishing tariffs</a> on Chinese electric vehicles.BYD unveiled the Sealion 7, a stylish electric SUV that the company says can charge from 10% to 80% in just 24 minutes. The company plans to launch the EV in Europe later this year.The automaker, which aims to become Europe's largest electric carmaker by 2030, showed off seven vehicles at its booth in Paris.Crowds quickly formed around the high-tech Yangwang U8, an imposing hybrid SUV that BYD says is capable of floating on water for up to 30 minutes and turning on the spot like a tank.The U8, which was making its European debut but is currently only sold in China, also comes with a drone that allows passengers to scout the road ahead.The Chinese focus on technologically advanced features and smart cars was also apparent elsewhere at the motor show. The booth of Chinese EV firm Xpeng was dominated by <a target="_blank" class="" href="https://www.businessinsider.com/xpeng-tesla-rival-flying-car-prototype-drone-evtol-2022-11">the company's flying car prototype</a>, which hung from the ceiling.<div type="image" title="Xpeng flying car at the Paris auto show" height="1875" width="2500" msid="114288549" hostid="261" sizebytes="398130"></div>CEO He Xiaopeng and co-president Brian Gu revealed the P7+ with camera-powered partially autonomous driving.Executives also discussed the company's investments in humanoid robots, flying cars, and AI hardware.Speaking to reporters, Gu said that although the tariffs, which could see <a target="_blank" class="" href="https://www.businessinsider.com/bmw-stellantis-renault-auto-giants-on-chinese-ev-competition-2024-10">manufacturers face extra levies as high as 35%</a>, would put pressure on Xpeng's business model, the company was not backing down from its European expansion plans."We have a long-term and strong commitment to Europe, which is a region that we think is a core to our business. We will do whatever is necessary to be competitive," he said.<h2 id="995c4927-3f48-4827-9f84-774f4931eb8f">European automakers despair</h2>Among the local automakers at the event, the atmosphere was less positive.<a target="_blank" class="" href="https://www.businessinsider.com/ev-sales-europe-slumping-warning-sign-us-2024-9">Stuttering EV sales across the continent</a> have meant some European manufacturers have scaled back their EV plans and are <a target="_blank" class="" href="https://www.businessinsider.com/bmw-ceo-2035-gasoline-vehicle-ban-eu-more-reliant-china-2024-10">lobbying the EU to rethink emissions targets</a> they say will cost them billions in fines.Speaking at a summit on the sidelines of the motor show, BMW CEO Oliver Zipse said the mood in Europe's auto industry was "trending toward pessimism."He warned that a planned 2035 ban on gasoline vehicles in Europe could "threaten the European automotive industry in its heart," while the CEO of French automaker Renault said that it was clear that Chinese automakers had accelerated beyond their Western rivals."Europe is not the leader anymore. No one can put heads in the sand anymore — the center of gravity is now in China," said Renault boss Luca de Meo, speaking at the same event.Nowhere was that more apparent than at the booth occupied by Chinese EV maker Leapmotor.<div type="image" title="Zhu Jiangming founder of Leapmotor and Carlos Tavares CEO of Stellantis at Paris Motor Show" height="4016" width="6016" msid="114288547" hostid="261" sizebytes="2561190"></div>After launching <a target="_blank" class="" href="https://www.stellantis.com/en/news/press-releases/2024/september/leapmotor-international-opens-orders-in-europe-for-affordable-high-tech-t03-city-car-and-c10-suv-electric-vehicles">two new models in Europe</a> last month, the EV startup <a target="_blank" class="" href="https://www.media.stellantis.com/em-en/leapmotor/press/leapmotor-b10-makes-global-debut-at-the-paris-motor-show">unveiled the B10</a>, an electric vehicle it is planning to sell globally from next year and which could cost 100,000 RMB ($14,000) in China.While unveiling the new model, Leapmotor CEO Zhu Jiangming was joined by Carlos Tavares, the CEO of Jeep, Ram, and Fiat maker Stellantis.The European automaker <a target="_blank" class="" href="https://www.stellantis.com/en/news/press-releases/2024/may/leapmotor-international-begins-operations-to-expand-global-electric-vehicle-sales-starting-september-2024-in-nine-european-countries-followed-by-other-key-growth-regions">struck a deal with Leapmotor</a> earlier this year to invest in the company and gained exclusive rights to sell its affordable EVs outside China.Speaking at the automotive summit on Tuesday, Tavares said European automakers needed to accept the "harsh reality" that Chinese companies were now capable of making EVs for far cheaper than their European rivals.He added that the Leapmotor partnership had been necessary for Stellantis to compete with the country's electric vehicle giants."For us, the best way to compete immediately with the Chinese was to hop on their train, rather than letting it run us over," Tavares said.

China's EV giants shine at Europe's largest auto show while local rivals despair

French sports retailer <keyword id="19948511" type="General" weightage="20" keywordseo="Decathlon" source="keywords" meta.keywordsubtype="org" meta.entityname="Decathlon" meta.hostid="153" meta.entityid="Decathlon">Decathlon</keyword> on Wednesday said it will <keyword id="19954634" type="General" weightage="20" keywordseo="invest" source="keywords">invest</keyword> 100 million euros (around Rs 933 crore) in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>, its one of the fastest growing markets, in the next five years to expand <keyword id="19992513" type="General" weightage="20" keywordseo="retail" source="keywords">retail</keyword> footprint and <keyword id="19914449" type="General" weightage="20" keywordseo="manufacturing" source="keywords">manufacturing</keyword> operations. The company expects its business to become double in next three to five years, said Decathlon India CEO Sankar Chaterjee. The company plans to have a network of 190 stores, having presence in over 90 cities in next 5 years as part of its expansion, he added. Besides, a handful of this would also be spent on enhancing the digital channel as per the omni-channel approach of the company. Decathlon will expand its manufacturing operations and increase sourcing from india for the local market and its global operations. Currently 68 per cent of the goods sold in India are locally produced. Besides, 8 per cent of Decathlon's global product range are also met through India manufacturing. "We are aiming to take the domestic manufacturing for Decathlon India to 85 per cent by 2026," Chaterjee said. Decathlon plans to add 10-15 new stores every year, accelerating online sales and increasing local sourcing as part of expansion. Decathlon Global Chief Retail and Countries Officer Steve Dykes said India now plays an important role for the company. "India is a unique and exciting market with numerous opportunities. We have commitments to accelerate our efforts in india to make societal impact to inspire more and more Indians to play," he said. Dykes further said Decathlon will explore new sales channels as B2B to increase its impact. "We have a potential for India to play more and more and their role in Decathlon research and design and processes, over 2 million people are engaged globally in sports activity with a Decathlon clay app, and we have a big commitment in developing a future talent that comes from India, he said. In March Decathhlon had said India is a "big priority" market and expects it to be among its top five global markets within five years. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-gained-over-3-million-subscribers-in-june-vi-lost-nearly-a-million/articleshow/112670406.cms">Reliance Jio and Airtel gained over 3 million subscribers in June, Vi lost nearly a million</a> <a href="https://www.businessinsider.in/tech/mobile/news/the-iphone-pro-models-will-be-made-in-india-for-the-first-time-this-year/articleshow/112653019.cms">The iPhone Pro models will be made in India for the first time this year</a> <a href="https://www.businessinsider.in/stock-market/webstories/orient-technologies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112646237.cms">Orient Technologies IPO – Price band to risk factors, all you need to know</a>

Decathlon to invest 100 million euros in India in next 5 years to expand retail, manufacturing

Sales of telecom equipment have surpassed the Rs 50,000 crore milestone under the Production Linked Incentive (PLI) scheme. According to a press release by the Ministry of Communication, this accomplishment reflects the success of governmental efforts to bolster <keyword id="20053977" type="General" weightage="20" keywordseo="domestic-manufacturing" source="keywords">domestic manufacturing</keyword> and reduce import dependence, aligned with Prime Minister Narendra Modi's vision of 'Atmanirbhar Bharat'. Within three years of its inception, the Telecom <keyword id="19981334" type="General" weightage="20" keywordseo="PLI-scheme" source="keywords">PLI scheme</keyword> has attracted an investment of Rs 3,400 crore, surpassing the Rs 50,000 crore milestone in telecom equipment production, with exports reaching approximately Rs 10,500 crore. This achievement has resulted in the creation of more than 17,800 direct jobs and numerous indirect employment opportunities, underscoring the robust growth and competitiveness of <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s telecom manufacturing sector. Government initiatives aimed at promoting local production and reducing import dependency have played a pivotal role in this success, aiming to bolster domestic manufacturing capabilities and position India as a global hub for telecom equipment production, read the press release. The Production Linked Incentive Scheme for Large Scale Electronic Manufacturing of Electronics, encompassing mobile phone and component manufacturing, has significantly boosted both production and export figures. From producing 5.8 crore mobile phones and importing 21 crore units in 2014-15, India manufactured 33 crore phones domestically in 2023-24, with only 0.3 crore units imported and nearly 5 crore units exported. The value of mobile phone exports surged from Rs 1,556 crore in 2014-15 to Rs 1,28,982 crore in 2023-24, highlighting substantial growth and reduced import reliance. India, historically a net importer of telecom gear, has seen a transformative shift due to initiatives like <keyword id="20262813" type="General" weightage="20" keywordseo="Make-in-India" source="keywords">Make-in-India</keyword> and the PLI scheme, resulting in domestic equipment production valued at over Rs 50,000 crore, read the press release. The <keyword id="22354280" type="General" weightage="20" keywordseo="telecom-equipment-manufacturing" source="keywords">telecom equipment manufacturing</keyword> sector has shown exceptional growth under the PLI scheme, with total sales exceeding Rs 50,000 crore, marking a 370 per cent increase compared to the base year of FY 2019-20. Generating over 17,800 direct jobs and additional roles across the manufacturing value chain, fostering economic growth and development. Encouraging local production, the scheme has reduced India's reliance on imported telecom equipment by 60 per cent, enhancing national security and self-reliance in critical technologies. Indian manufacturers are now competing globally, offering high-quality products at competitive prices, particularly in advanced telecom technologies like 5G. Under the stewardship of the Department of Telecommunications (DoT) and Ministry of Electronics and Information Technology (MeitY), initiatives like the PLI Scheme for Telecom and Networking Products have significantly narrowed the gap between telecom imports and exports, read the press release. In FY 2023-24, exports of telecom equipment and mobiles combined totaled over Rs 1.49 lakh crore, slightly below imports valued at Rs 1.53 lakh crore, reflecting India's growing export prowess in the sector. Minister of Communications and Electronics, Ashwini Vaishnaw, posted on X, "The reality of mobile phone, electronics and telecom product manufacturing is known to all except those who don't like our country's progress. In 2014-15, India produced only 5.8 Crore mobile phones and imported about 21 Crore mobile phones. In 2023-24, Bharat produced 33 Crore phones and exported close to 5 Crore mobile phones. Telecom equipment manufacturing was a dream for India. PLI enabled telecom manufacturing. In 2023-24, telecom equipment production topped benchmark of Rs. 45,000 Crore. Exports crossed Rs. 10,500 Crore. Guess who else, apart from Congress, doesn't like our country emerging as a manufacturer of mobile phones and telecom equipment?" Over the past five years, the trade deficit in telecom products has decreased from Rs 68,000 crore to Rs 4,000 crore, demonstrating the PLI schemes' success in enhancing India's global competitiveness and attracting investments in cutting-edge technologies. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/xiaomi-su7-with-up-to-800-km-range-showcased-in-india-but-you-cant-buy-it/slidelist/111609513.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/xiaomi-su7-with-up-to-800-km-range-showcased-in-india-but-you-cant-buy-it/slidelist/111609513.cms" target="_blank">Xiaomi SU7 with up to 800 km range showcased in India but you can’t buy it</a><a href="https://www.businessinsider.in/tech/mobile/news/redmi-13-5g-with-120hz-display-launched-in-india-starting-at-13999/articleshow/111604488.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/redmi-13-5g-with-120hz-display-launched-in-india-starting-at-13999/articleshow/111604488.cms" target="_blank">Redmi 13 5G with 120Hz display launched in India starting at ₹13,999</a><a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-unpacked-how-to-watch-expected-launches-and-everything-you-need-to-know/articleshow/111626712.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-unpacked-how-to-watch-expected-launches-and-everything-you-need-to-know/articleshow/111626712.cms" target="_blank">Samsung Galaxy Unpacked – How to watch, expected launches and everything you need to know</a>

India's telecom equipment manufacturing sales cross ₹50,000 crore under PLI scheme

One aspect that always garners much traction on the <keyword id="19936553" type="General" weightage="100" keywordseo="Budget" source="keywords">Budget</keyword> day is what got <keyword id="20257498" type="General" weightage="20" keywordseo="cheaper" source="keywords">cheaper</keyword> and what got <keyword id="20286063" type="General" weightage="20" keywordseo="costlier" source="keywords">costlier</keyword>. Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> as part of her Budget presentation proposed a host of tweaks in basic <keyword id="20454068" type="General" weightage="20" keywordseo="customs-duty" source="keywords">customs duty</keyword> (BCD) for various products or items that are critical for manufacturing. In her Budget speech, Sitharaman proposed an exemption on customs duty on certain <keyword id="22516435" type="General" weightage="20" keywordseo="cancer-medicines" source="keywords">cancer medicines</keyword> and a reduction in duties on <keyword id="19920958" type="General" weightage="20" keywordseo="mobile-phone" source="keywords">mobile phone</keyword> parts and chargers, aimed at bringing down their prices in the retail market. "With a three-fold increase in domestic production and almost 100-fold jump in exports of mobile phones over the last six years, the Indian mobile phone industry has matured. In the interest of consumers, I now propose to reduce the BCD on mobile phone, mobile PCBA and mobile charger to 15 per cent," said Sitharaman in her Budget speech that lasted around 90 minutes. To provide relief to cancer patients, she proposed to fully exempt three more medicines from customs duties. Imported <keyword id="19895579" type="General" weightage="20" keywordseo="gold" source="keywords">gold</keyword>, silver, leather goods and seafood will also get cheaper, as duties were invariably lowered on them. Duty cut on gold would boost retail demand and help in curtailing smuggling in the world's second-biggest bullion market. "To enhance domestic value addition in gold and precious metal jewellery in the country, I propose to reduce customs duties on gold and silver to 6 per cent and that on platinum to 6.4 per cent." She also proposed changes in the customs duty on X-ray tubes and flat panel detectors for use in medical X-ray machines under the <keyword id="20330318" type="General" weightage="20" keywordseo="phased-manufacturing-programme" source="keywords">Phased Manufacturing Programme</keyword>, so as to synchronise them with domestic capacity addition. Also, she proposed to fully exempt customs duties on 25 critical minerals and reduce basic customs duty on two of them. Minerals such as lithium, copper, cobalt and rare earth elements are critical for sectors like nuclear energy, renewable energy, space, defence, telecommunications, and high-tech electronics, said the finance minister. "This will provide a major fillip to the processing and refining of such minerals and help secure their availability for these strategic and important sectors," Sitharaman said. Putting energy transition on focus, as it is critical in the fight against climate change, the finance minister proposed to expand the list of exempted capital goods for use in the manufacture of solar cells and panels in the country. However, in view of sufficient domestic manufacturing capacity of solar glass and tinned copper interconnect, it was proposed not to extend the exemption of customs duties provided to them. To enhance competitiveness in marine products, the reduced duty on certain broodstock, polychaete worms, shrimp and fish feed to 5 per cent, besides exempting customs duty on various inputs for manufacture of shrimp and fish feed. Moving on to leather and textile, reduction in duty was announced for various items. "...to enhance the competitiveness of exports in the leather and textile sectors, I propose to reduce BCD on real down filling material from duck or goose," Sitharaman said. To reduce cost of production of steel and copper, two important raw materials, it was proposed to remove the customs duty on ferro nickel and blister copper. "I am also continuing with nil BCD (customs duty) on ferrous scrap and nickel cathode and concessional BCD of 2.5 per cent on copper scrap." On the flip side, to support chemicals and petrochemicals, an increase in duty was proposed. To support existing and new capacities in the pipeline, an increase in duty on ammonium nitrate from 7.5 to 10 per cent would be applicable. PVC flex banners are non-biodegradable and hazardous for environment and health. To curb their imports, a propose was made to raise the duty on them from 10 to 25 per cent. To incentivise domestic telecommunication equipment manufacturing, a propose to increase the duty from 10 to 15 per cent on PCBA (printed circuit board assembly) of specified telecom equipment was made. Explaining her rational behind the indirect taxes tweak, Sitharaman said her proposals for customs duties intend to support domestic manufacturing, deepen local value addition, promote export competitiveness, and simplify taxation, while keeping the interest of the general public and consumers surmount. In Budget 2022-23 too, the government reduced the number of customs duty rates.

Here's what will get cheaper and costlier after this Budget

<ul class="summary-list"><li>AI technologies have the potential to replace some US jobs in the future.</li><li>An economist says people displaced by AI will be better off than past manufacturing workers.</li></ul>One of the big questions facing US economists is what the coming <a target="_blank" href="https://www.businessinsider.com/ai-boom-share-profits-workers-productivity-wages-2023-5">AI revolution</a> will mean for workers.In the years ahead, there are concerns that companies' huge <a target="_blank" href="https://www.businessinsider.com/ai-job-losses-spending-new-tech-meta-google-amazon-layoffs-2024-7">AI investments</a> — and their ongoing adoption of these technologies — could <a target="_blank" href="https://www.businessinsider.com/chatgpt-jobs-at-risk-replacement-artificial-intelligence-ai-labor-trends-2023-02">eliminate jobs</a>. A Goldman Sachs report published last year estimated that <a target="_blank" class="" href="https://www.businessinsider.com/what-jobs-will-ai-replace-labor-market-artificial-intelligence-impact-2023-7">300 million</a> full-time jobs across the globe could be disrupted — not necessarily replaced — by AI in the coming years. It's <a target="_blank" class="" href="https://www.businessinsider.com/jobs-lost-in-may-because-of-ai-report-2023-6">already costing</a> some workers their jobs.Similar to US <a target="_blank" href="https://www.businessinsider.com/jobs-ai-chatgpt-career-change-reskilling-tech-training-workers-disruptions-2023-11">manufacturing workers</a> who lost their jobs in recent decades to advancements like <a target="_blank" class="" href="https://www.businessinsider.com/automation-labor-market-wage-inequality-middle-class-jobs-study-2021-6">automation</a>, those displaced by AI could find themselves without the skills needed for the modern workforce.But there might be some reason to avoid a doom and gloom outlook. According to Steven Davis, senior fellow and director of research at the Hoover Institute — a public policy think tank based at Stanford University — the average person who loses their job due to AI will be better positioned to find a new role than the average US manufacturing worker who <a target="_blank" href="https://www.businessinsider.com/how-manufacturing-factories-save-america-economy-future-crappy-service-jobs-2022-7">lost their job</a> in recent history."For any given scale of job loss caused by AI, there's going to be less economic hardship than we can anticipate from our previous experience with industrial job loss," Davis told Business Insider.In 2000, roughly <a target="_blank" href="https://fred.stlouisfed.org/series/MANEMP">17 million</a> Americans worked in manufacturing, but by 2010, the number had fallen to about 11 million — it's roughly 13 million as of June. Much of the decline was <a target="_blank" class="" href="https://www.businessinsider.com/how-manufacturing-factories-save-america-economy-future-crappy-service-jobs-2022-7">in the Midwest</a>. Between 1990 and 2019, employment in the Midwest's manufacturing industry fell by over <a target="_blank" class="" href="https://www.bls.gov/opub/mlr/2021/article/exploring-midwest-manufacturing-employment-from-1990-to-2019.htm#:~:text=Between%201990%20and%202019%2C%20the,by%201.1%20million%2C%2021.2%20percent.">1 million</a>, or about 21%.Various factors, including <a target="_blank" class="" href="https://www.businessinsider.com/how-the-pandemic-changed-manufacturing-forever-according-to-execs-2021-4">automation</a> and <a target="_blank" href="https://www.businessinsider.com/what-happened-to-american-jobs-in-the-80s-2017-7">globalization</a>, have driven the decline, and many workers who lost their jobs <a target="_blank" href="https://www.businessinsider.com/us-men-working-less-recessions-employment-productivity-2024-4">struggled to find work</a> in the aftermath. However, Davis said workers who are displaced by AI should have a better chance of avoiding the same fate. It comes down to when — and where — AI job losses are likely to materialize.To be sure, there is significant disagreement among experts about what the AI future will <a target="_blank" class="" href="https://www.businessinsider.com/ai-wont-take-your-job-someone-using-it-will-quote-2024-6">mean for US workers</a>. But some say looking at previous disruptions to the labor market could <a target="_blank" class="" href="https://www.businessinsider.com/rise-of-ai-artificial-intelligence-how-to-prepare-history-productivity-2023-7">provide some insight</a> into what lies ahead.<h2 id="77281e66-a782-45df-a95d-d659a5fb618f">AI job displacement will be less concentrated than the loss of manufacturing jobs</h2>Some level of job loss is inevitable in the US economy — whether it be due to a recession, automation, or some other factor. In June, over 1.4 million Americans were <a target="_blank" href="https://fred.stlouisfed.org/series/JTSLDL">laid off</a> or discharged, among the lowest monthly figures over the past two decades. But when a person loses their job and can't find a new one, a temporary setback can end up having a <a target="_blank" href="https://www.businessinsider.com/college-graduates-cant-find-jobs-earn-less-strong-labor-market-2024-6">lasting impact</a> on their finances.Therefore, when one weighs the impacts of the coming AI boom, Davis said it's wise to consider not only <a target="_blank" href="https://www.businessinsider.com/ai-radically-reshape-job-market-global-economy-employee-labor-innovation-2023-8">how many jobs it could displace</a> — which happens to be extremely difficult to forecast — and focus on a more manageable question: How hard of a time will any displaced workers have finding new roles?Davis said there are several reasons workers who are displaced by AI should have an easier time finding work than many <a target="_blank" href="https://www.journals.uchicago.edu/doi/full/10.1086/700896">manufacturing workers</a> of the past.First, when manufacturing jobs <a target="_blank" class="" href="https://www.businessinsider.com/jobs-that-were-popular-in-2000-that-have-almost-disappeared">have been lost</a>, it's often happened in bunches. A <a target="_blank" href="https://www.businessinsider.com/major-iconic-factory-closings-2008-2011-2">factory closed</a> or a recession led to widespread cuts — Davis said economic downturns have historically hit the manufacturing industry "especially hard."Not only have many manufacturing workers experienced job losses around the same time, but they've also tended to be clustered geographically around large manufacturing facilities, Davis said. This created situations where a large number of laid-off manufacturing workers with similar skills were looking for jobs at the same time in the same area — and there often just wasn't enough work to go around."If you enter the market or you need to find a new job in a recession, it's typically harder, not just because there's less hiring going on but because there are lots of other people looking for jobs at the same time," Davis said.However, job losses in most industries, including those expected to be <a target="_blank" href="https://www.businessinsider.com/job-disruption-ai-future-careers-blue-collar-desk-work-2023-11">impacted by AI</a>, are less likely to happen at the same time and in the same area, Davis said. So even if AI displaces some jobs, he expects workers to be in a better position to find a new role.Additionally, to the extent workers displaced by AI are concentrated geographically, Davis said they're more likely to be in densely populated areas like cities. Impacted workers in cities would be more likely to have <a target="_blank" href="https://www.businessinsider.com/best-us-cities-for-job-opportunities-earnings-potential-nashville-austin-2023-4">job opportunities</a> than workers where manufacturing jobs were concentrated, which often were <a target="_blank" class="" href="https://www.businessinsider.com/midwest-america-cities-downtown-crisis-office-apocalypse-urban-doom-loop-2023-6">in the Midwest</a>.Secondly, the <a target="_blank" href="https://www.businessinsider.com/millennials-high-earners-moved-office-work-from-home-remote-work-2024-3">rise of remote work</a> has also led many companies' workforces to be more geographically dispersed than they used to be. So even if a company replaced many of its workers with AI, these people would be less likely to compete with each other as they looked for new jobs."For the people who lose their jobs, at least many of them are not in a local labor market that's being hit by a wave of job losses from a single company or a single industry," Davis said. He added that remote working arrangements could also expand job opportunities for impacted workers — they wouldn't only have to apply for jobs in their local areas.In June, about 24% of full-time US workers age 16 and older <a target="_blank" href="https://www.businessinsider.com/end-remote-work-could-hurt-overemployed-workers-job-jugglers-2024-7">worked from home</a> at least some of the time, according to the Bureau of Labor Statistics — 11% were remote for all their working hours.<h2 id="b7e5e4c2-f6aa-432c-b845-e550f1a55e33">Widespread AI job displacement won't happen for at least a decade</h2>While Davis is uncertain about the timing and scale of AI job displacement, he said he doesn't expect AI to drive major job losses over the next decade."I think AI is a potentially revolutionary technology, but it's one thing to develop the technology itself," Davis said. "To actually commercialize it at scale takes a long time typically, and we'll run into political resistance and policy resistance that will also slow down the process."Experts have raised concerns about AI's potential to produce <a target="_blank" class="" href="https://www.businessinsider.com/developer-creates-ai-disinformation-system-using-openai-2023-9">misinformation</a>, violate <a target="_blank" class="" href="https://www.businessinsider.com/openai-copyright-lawsuit-authors-chatgpt-trained-on-books-2023-7">copyright law</a>, and even lead to <a target="_blank" class="" href="https://www.businessinsider.com/ai-report-risks-human-extinction-state-department-expert-reaction-2024-3">human extinction</a>. Congress has <a target="_blank" class="" href="https://www.businessinsider.com/ai-regulations-what-lawmakers-president-are-doing-2024-4">yet to pass</a> comprehensive regulation related to AI, but President Joe Biden signed an executive order last year that included safety standards for AI researchers to follow.Davis said that historically, it's taken decades for new technologies to be adopted across the entire economy. He pointed to <a target="_blank" href="https://www.businessinsider.com/power-grid-strain-home-vehicle-electrification-ai-startups-2024-3">electrification</a>, the microprocessor, and the steam engine as past examples.While there's been speculation that underlying AI technologies <a target="_blank" href="https://www.businessinsider.com/ai-is-developing-too-fast-pause-bard-says-its-complicated-2023-4">could improve faster</a> than previous technologies, Davis said he thinks adopting them at scale will remain a challenge.He isn't alone in his skepticism. Jim Covello, Goldman Sachs' head of global equity research, expressed a similar sentiment during a "Goldman Sachs Exchanges" podcast released on July 16."We're a couple of years into this, and there's not a single thing that this is being used for that's cost-effective at this point," he <a target="_blank" href="https://www.goldmansachs.com/intelligence/podcasts/episodes/a-skeptical-look-at-ai-investment.html">said</a> of AI technology. "I think there's an unbelievable misunderstanding of what the technology can do today. The problems that it can solve aren't big problems."What's more, Davis said there's also plenty of potential for AI to <a target="_blank" href="https://www.businessinsider.com/new-jobs-al-will-create-no-collegee-degree-chatgpt-2023-11">create jobs</a>, adding that the early evidence suggests this tech isn't displacing jobs — but simply <a target="_blank" href="https://www.businessinsider.com/jobs-at-risk-from-ai-replace-change-chatgpt-automation-study-2023-7">changing them</a>."It's different than introducing a bunch of robots into a manufacturing plant and saying we don't need the workers anymore," he said. "That may eventually happen with AI, but that's not the main way it's been playing out so far."However, in the decades ahead, Davis said it's possible that AI could lead to wider job displacement. He mentioned <a target="_blank" class="" href="https://www.businessinsider.com/cvs-pharmacy-use-ai-customer-service-call-centers-tilak-mandadi-2024-6">customer service agents</a> as one profession that could be particularly vulnerable."The big question is does it happen gradually over time, in which case it would be relatively easy to accommodate," he said.Have you lost your job due to AI? Have you used AI tools to save time at work? Share your experience with this reporter at <a target="_blank" href="mailto:jzinkula@businessinsider.com">jzinkula@businessinsider.com</a>.

Why workers who lose their jobs to AI will be better off than the Midwest manufacturing employees of two decades ago

The rupee appreciated 3 paise to settle at 83.43 (provisional) against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> on Friday, tracking a weak American currency and retreating crude oil prices. <keyword id="20024982" type="General" weightage="20" keywordseo="forex-traders" source="keywords">Forex traders</keyword> said a massive selling in the domestic equity market and outflow of foreign funds capped the gains in the local currency. At the interbank foreign exchange, the domestic unit opened at 83.40 and moved in the range of 83.34 and 83.44 against the greenback during the session. The local unit finally settled at 83.43 (provisional) against the dollar, registering a rise of 3 paise from its previous close. The rupee had settled 3 paise lower at 83.46 against the dollar on Thursday. Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas, said the rupee gained on a weak US dollar and a decline in crude oil prices. However, weak domestic markets and FII outflows capped sharp gains. The weak dollar was attributed to the US Federal Reserve's decision to keep the key interest rate unchanged for the sixth consecutive time, citing slower progress on the inflation front. Choudhary further said the rupee is expected to trade with a slight negative bias on weak domestic markets and selling pressure from foreign investors. However, a weak tone and a soft US dollar may support the rupee at lower levels. "Traders may remain cautious ahead of non-farm payrolls report and ISM services PMI data from the US today. Encouraging non-farm payrolls may support the dollar while dismal data may weigh on the greenback. USD-INR spot price is expected to trade in a range of Rs 83.20 to Rs 83.60," he added. India's <keyword id="20041067" type="General" weightage="20" keywordseo="manufacturing-PMI" source="keywords">manufacturing PMI</keyword> fell to 58.8 in April 2024 from 59.1 in the previous month, a monthly survey said on Thursday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI), however, recorded the second fastest improvement in operating conditions in three-and-a-half years supported by buoyant demand. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.10 per cent to 105.07. Brent crude futures, the global oil benchmark, slipped 0.04 per cent to USD 83.64 per barrel. On the domestic equity market front, Sensex tumbled 732.96 points, or 0.98 per cent, to settle at 73,878.15, and Nifty tanked 172.35 points, or 0.76 per cent, to close at 22,475.85. Foreign institutional investors (FIIs) were net sellers in the capital markets on Thursday, as they sold shares worth Rs 964.47 crore on a net basis, according to exchange data. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a> <a href="https://www.businessinsider.in/tech/mobile/news/poco-oneplus-top-indian-smartphone-shipment-growth-but-overall-reading-flat/articleshow/107681294.cms">Poco, OnePlus top Indian smartphone shipment growth but overall reading flat</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-crater-in-april-2024-as-prices-increase-amid-reduced-subsidies/articleshow/109806054.cms">Electric two-wheeler sales crater in April 2024 as prices increase amid reduced subsidies</a>

Rupee rises 3 paise to end at 83.43 against US dollar

<div type="image" title="One Planet Banner Test" height="138" width="1100" msid="108470190" hostid="261" sizebytes="5076"></div>When Robert Howey joined the US Navy right after high school, he didn't expect to return home anytime soon.Howey, now 30, grew up in northwestern Georgia near Dalton, a small city known as the "carpet capital of the world." If he'd stayed in the area, he likely would have pursued a career in the carpet industry."That's one of the reasons why I wanted to leave," Howey told Business Insider.Howey spent four years as an aerographer's mate analyzing the conditions above and below the ocean. But after being stationed in Japan during the Fukushima earthquake in 2016, he realized the military wasn't his long-term career.He missed home and moved back to Dalton, where a job in carpet manufacturing was indeed the best-paying option. That was until 2018, when Howey heard about a new company moving into Dalton. A local staffing agency was recruiting for Qcells, a solar-panel manufacturing company owned by the South Korean conglomerate Hanwha Group."I didn't even know what a solar panel was," Howey, now a master training coordinator at Qcells, said. "In the beginning, it was just about getting a job where I could grow. Now I believe in the mission of completely clean energy."Howey is among the 1,800 employees Qcells has hired since opening a solar assembly plant in 2019. The company finished an expansion in October, and it plans to open another factory in Cartersville, about an hour south of Dalton, to make smaller parts of solar panels, including ingots, wafers, and cells. Those parts are currently being imported from South Korea and Malaysia.<div type="image" title="An employee at Qcells inspects a solar panel on the factory floor." height="3024" width="4032" msid="108470191" hostid="261" sizebytes="1120990"></div>Qcells is part of a broader transformation of Georgia's economy into a renewable-energy manufacturing hub, accelerated by tax breaks in the <a target="_blank" href="https://www.businessinsider.com/read-heres-whats-in-the-manchin-deal-for-bidens-agenda-2022-7">Inflation Reduction Act</a> that President Joe Biden signed in August 2022. Since then, more than $15 billion worth of investment has been announced in the state – the second-largest amount behind North Carolina, <a target="_blank" href="https://e2.org/announcements/">according to E2</a>, a nonpartisan business group that advocates climate policy. Most of the money is for new battery plants to supply Georgia's growing <a target="_blank" href="https://www.businessinsider.com/electric-vehicles-ev-industry-only-sector-meet-climate-goals-2023-11">electric-vehicle sector</a>, while about $2.6 billion is set to go toward solar manufacturing, led by Qcells. E2 has estimated the projects could create 15,400 jobs statewide.All the activity has made Georgia a key testing ground for the <a target="_blank" href="https://www.businessinsider.com/biden-laws-us-infrastructure-invest-funding-2024-3">Biden administration's promise</a> that tackling the climate crisis would create <a target="_blank" href="https://www.businessinsider.com/climate-jobs-career-grow-pay-well-high-salary-2024">good-paying jobs</a> and help reshore American manufacturing. Though companies have announced billions of dollars' worth of investments, efforts to build a domestic supply chain of solar panels and electric vehicles are still in their infancy and face stiff competition from China.<h2>Aggressive recruitment</h2>Experts in economic and workforce development say it's no accident this <a target="_blank" href="https://www.businessinsider.com/jobs-climate-manufacturing-work-best-places-georgia-carolinas-2024-1">manufacturing is taking off in Georgia</a>.Bob Keefe, the executive director of E2, said southeastern states view economic development as "a blood sport." Attracting new companies is a priority for leaders in Georgia, North Carolina, and South Carolina, and the states typically offer generous tax breaks.Keefe added that land and labor in the Southeast tend to be more affordable, in part because few workers are unionized. Many workers are also already skilled in manufacturing.Beyond Qcells, the German auto-parts maker Gedia opened a factory in Dalton to supply the burgeoning EV industry in Georgia and the broader Southeast. In nearby Cartersville, two South Korean conglomerates, SK On and Hyundai, are building a battery plant to supply the electric vehicles Hyundai plans to assemble at a massive new complex in Savannah; both sites are expected to open in 2025. India's Rayzon Solar, which makes solar panels, chose Atlanta for its first US factory. SolarCycle, <a target="_blank" href="https://www.businessinsider.com/climate-action-30-global-leaders-climate-solutions-2023-11#pablo-ribeiro-dias-cofounder-and-cto-solarcycle-19">which reclaims old solar panels</a> to make new ones, in February announced plans for a glass factory.<div type="image" title="SK On and Hyundai's battery factory under construction in Cartersville, Georgia." height="1660" width="3590" msid="108470192" hostid="261" sizebytes="324146"></div>Pat Wilson, the commissioner of the Georgia Department of Economic Development, told BI that recruiting solar and electric-vehicle companies was strategic. Wilson said that on a trip to Germany his department organized with Gov. Brian Kemp shortly after he took office in 2019, executives they met with at <a target="_blank" href="https://www.businessinsider.com/porsche-unveils-mission-x-new-electric-hypercar-ev-electric-vehicle-2023-6">Porsche</a> and <a target="_blank" href="https://www.businessinsider.com/mercedes-benz-ev-2030-electric-car-market-trends-2024-2">Mercedes-Benz</a> talked at length about electric vehicles.Qcells had already selected Dalton for its new solar-panel factory by the time Kemp was elected. Wilson said that was partly because of Georgia's decadeslong business relationship with South Korea, where the state established an office in 1985.Wilson said he met with SK On's officials several times before it looked to open a battery factory in the Southeast. SK On opened two battery plants in Commerce, Georgia, in 2018 and hired some 3,000 workers, though it <a target="_blank" href="https://www.ft.com/content/9453dc6b-be15-4a54-8e26-fffdc7a3c9eb">recently laid off</a> more than 100 employees as automakers slowed EV investments, the Financial Times reported.Beyond the ties to South Korean conglomerates, Georgia invests more than $100 million dollars a year in workforce training, budget documents show. A state-funded program known as Quick Start can be tailored to the technical skills companies are looking for and offered for free to workers. Georgia's network of 22 technical colleges also partners with local companies to prepare students for work.Heidi Popham, the president of Georgia Northwestern Technical College, said the state agency that oversees that network of technical colleges developed an electric-vehicle-technician certificate, given the massive growth of that industry. She expects her college will offer that certification soon."The students in our automotive-technician program that work on the vehicles will have to have those skills," Popham told BI.<h2>China looms large</h2>Georgia's strategy in recruitment and workforce development is only part of the reason for the boom in renewable-energy-technology companies.In 2018, President Donald Trump <a target="_blank" href="https://www.businessinsider.com/trump-solar-tariffs-solar-panels-thousands-of-job-losses-2018-1">slapped tariffs on imports</a> of solar panels and cells, with the goal of helping US manufacturers compete with cheaper imports from China and Southeast Asia. The tariffs were requested by two American companies, including Suniva, which had once been the fastest-growing solar company in the US before filing for bankruptcy protection in 2017.Foreign companies shipping to the US, including Hanwha, were forced to reevaluate their supply chains."We have factories in Korea and Malaysia that were impacted by that duty," said Scott Moskowitz, the director of strategy and market intelligence at Qcells. "The US was our largest market, and we had long wanted to build a factory here. But that trade policy jump-started us making the investment."Qcells' latest expansion plans were buoyed by the Inflation Reduction Act. The law authorized big tax credits for companies making renewable-energy technologies, including solar panels, batteries, and electric vehicles, in the US.Those subsidies could increase if companies use what's known as domestic content: components of those technologies that are also sourced from the US. The Treasury Department is still working on final guidance for which components would qualify. An initial draft covers solar modules and cells but not wafers and polysilicon. In February, a dozen senators, including Sen. Jon Ossoff of Georgia, <a target="_blank" href="https://www.ossoff.senate.gov/wp-content/uploads/2024/02/24.02.28_Sen.-Ossoff-Domestic-Content.pdf">asked the Biden administration</a> to include wafers and polysilicon to help reshore more of the solar-panel supply chain.That change would benefit Qcells. Its parent company, Hanwha, invested in a <a target="_blank" href="https://www.kedglobal.com/energy/newsView/ked202311160013">polysilicon factory in Washington state</a>, reviving operations after a nearly five-year hiatus.Moskowitz said that though the law has spurred the most investment in US manufacturing in decades, these renewable supply chains still face headwinds, primarily from China. He added that China had compensated for its cratering <a target="_blank" href="https://www.businessinsider.com/china-economy-crash-real-estate-collapse-property-market-evergrande-bass-2024-2">real-estate sector</a> by rapidly investing in export-oriented manufacturing inside and outside its borders.According to BloombergNEF, China spent $676 billion on the green-energy transition in 2023, while the US spent $303 billion. The year prior, China spent $546 billion while the US spent $141 billion.As a result, <a target="_blank" href="https://www.businessinsider.com/renewable-energy-how-much-added-wind-solar-evs-2023-12">China dominates the renewable-energy supply chain</a>, from metals to polysilicon to solar components to batteries. The investment has also led to a global oversupply of solar panels and components that's sent prices plunging, and it's made <a target="_blank" href="https://www.businessinsider.com/china-xi-jinping-crush-tesla-elon-musk-american-ev-industry-2024-2#:~:text=BYD%20eclipsed%20Tesla%20in%202023,on%20threats%20from%20Chinese%20automakers.">China a major player in the EV market</a>.While the US doesn't import solar panels directly from China, the Biden administration <a target="_blank" href="https://www.commerce.gov/news/press-releases/2023/08/department-commerce-issues-final-determination-circumvention-inquiries">last year determined</a> that certain Chinese companies were shipping products through Southeast Asian countries like Malaysia and Vietnam. This allowed those companies to avoid tariffs, which the administration had waived for two years, through June 2024. According to S&amp;P Global, the US imported <a target="_blank" href="https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/extreme-dependence-us-solar-panel-imports-boom-to-record-54-gw-in-2023-80448513">more than two-thirds of its solar panels</a> from Southeast Asia last year.The moves reflect the delicate balance the White House is trying to strike between meeting its climate and renewable-energy goals — which rely on imports — and bolstering a domestic manufacturing base.Moskowitz said that despite the difficult market conditions, Qcells was committed to its US expansion plans. The tax breaks in the Inflation Reduction Act are in effect for 10 years, which he said reduced some risk for the company. Qcells also has an eight-year supply deal with Microsoft, which is building out renewable-energy projects to power its operations.Once the Qcells factory in Cartersville is finished, the company said it will produce about 8.4 gigawatts of solar power capacity a year, or <a target="_blank" href="https://www.seia.org/us-solar-market-insight">about a fourth of what the US installed in 2023</a>.<h2>A new era in the carpet capital</h2>Qcells' arrival in Dalton marked a new era in Whitfield County, which was devastated by the Great Recession. The housing-bubble burst, rippled through the carpet industry, and cost the county <a target="_blank" href="https://www.dailycitizen.news/news/local_news/carbondale-business-park-has-attracted-jobs-and-investment/article_3d4025a4-c81a-11ed-830d-e7ae46616883.html">more than 10,000 jobs.</a> The unemployment rate peaked at about 14% in early 2009 and the county's population, which had steadily grown for decades, plateaued. New housing construction halted.Carl Campbell, the executive director of the Dalton-Whitfield County Joint Development Authority, said that while carpet makers like Shaw Industries and Mohawk Industries survived, <a target="_blank" href="https://fred.stlouisfed.org/series/SMU13191403231400001">the industry never returned to prerecession employment levels</a> because of consolidation and automation.The decline led economic-development officials to try to diversify businesses in the area. Campbell said the local workforce already valued manufacturing because of the community's long history in carpet. This — combined with Dalton's proximity to Interstate 75, a freight-rail depot, and a generous 10-year property-tax abatement — helped close the deal with Qcells.Since Qcells opened its doors in 2019, Whitfield County's population has slowly started increasing, but not nearly as fast as Georgia's overall population, which grew by 1.7% between 2020 and 2022.Jevin Jensen, the chairman of the Whitfield County Board of Commissioners, said part of the problem is a lack of housing. Each day, Jensen said, 30,000 people come to the county for work and then leave to go home."Surely some of those people want to live here but can't find a place they like or a place that's new," Jensen told BI. "We haven't had any new apartments in 20 years."<div type="image" title="Local residents stand outside Dalton Station, a new apartment complex in Dalton, Georgia." height="2841" width="3024" msid="108470193" hostid="261" sizebytes="694042"></div>But a lot can change in a year. Jensen said Dalton would have 1,200 new apartments by the end of 2024. In early February, he attended a ribbon-cutting ceremony at a chic new studio-apartment complex that's close to downtown and designed to appeal to young professionals. Amenities include a gym, a common area with a pool table, and cornhole on the patio.Afterward, Jensen gave BI a driving tour of three other developments around Dalton, including a multifamily apartment complex at an old jail site."The younger generation doesn't want to spend time on a remodel," Jensen said. "They want move-in-ready, mixed-use, with retail and restaurants in one area. We had nothing like that for young professionals."Howey, the Qcells employee, lives about 30 minutes outside the city, in Calhoun. He's noticed the new housing popping up in the area, along with <a target="_blank" href="https://www.businessinsider.com/real-estate-investors-ev-truck-electric-charging-stations-2023-10">EV chargers.</a> When he sees solar panels atop the chargers, he feels pride in his job."We are helping power our vehicles and homes in a way that isn't going to kill our planet," Howey said.He's also a father to two stepchildren — he said he's glad they'll have more job opportunities than he did when he graduated."I think the <a target="_blank" href="https://www.businessinsider.com/solar-panel-industry-electricity-generation-us-eia-tariff-prices-trade-2024-2">solar industry</a> has created a whole new atmosphere in the area," he said, "where people want to come here to succeed and move forward."This article is part of "<a target="_blank" rel="" href="https://www.businessinsider.com/category/the-great-transition">The Great Transition</a>," a series covering the big changes across industries that are leading to a more sustainable future. For more climate-action news, visit BI's <a target="_blank" rel="noopener" href="https://www.businessinsider.com/one-planet">One Planet</a> hub.

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