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Boost in domestic <keyword id="19914449" type="General" weightage="20" keywordseo="manufacturing" source="keywords">manufacturing</keyword> due to PLI (production linked incentive) schemes and increase in <keyword id="19916774" type="General" weightage="20" keywordseo="exports" source="keywords">exports</keyword> on account of free trade agreements are expected to bridge the country's <keyword id="20201391" type="General" weightage="20" keywordseo="trade-deficit" source="keywords">trade deficit</keyword> further, <keyword id="20613906" type="General" weightage="100" keywordseo="Economic-Survey" source="keywords">Economic Survey</keyword> said on Monday. However, it said that fluctuations in <keyword id="19936629" type="General" weightage="20" keywordseo="commodity-prices" source="keywords">commodity prices</keyword>, especially for critical imports like oil, metals, and agricultural products, can impact India's trade balance and inflation levels. The Survey said that though ongoing geopolitical headwinds impacted India's merchandise exports, lowering international commodity prices ensured a lower trade deficit in FY24 than in FY23. The country's merchandise trade deficit narrowed to USD 240 billion in 2023-24 from USD 265 billion in 2022-23. It added that changes in trade policies by major trading partners or geopolitical developments can affect India's export opportunities and market access. "In the coming years, India's trade deficit is expected to decline further as the <keyword id="19981334" type="General" weightage="20" keywordseo="PLI-scheme" source="keywords">PLI scheme</keyword> is expanded and India creates a globally competitive manufacturing base in several product categories," the Survey said. It added that the recently signed FTAs (free trade agreements) are expected to increase the <keyword id="22374533" type="General" weightage="20" keywordseo="global-market-share" source="keywords">global market share</keyword> of the country's exports. The PLI scheme for sectors like mobile manufacturing, information technology (IT) hardware, pharmaceutical, telecommunications, and food product are helping to increase manufacturing and cut imports. India has implemented <keyword id="20000557" type="General" weightage="20" keywordseo="FTA" source="keywords">FTA</keyword> with Mauritius, Australia and the UAE. It added that a narrowing merchandise trade deficit and rising service exports have improved the CAD (<keyword id="20054874" type="General" weightage="20" keywordseo="current-account-deficit" source="keywords">current account deficit</keyword>), ending with a surplus of 0.6 per cent of GDP in Q4 of FY24. However, the risks to the performance of India's external sector are on the downside due to the persistence of current <keyword id="19955176" type="General" weightage="20" keywordseo="geopolitical-tensions" source="keywords">geopolitical tensions</keyword> and policy uncertainty, it said. Some of the challenges listed by the survey includes fall in demand from major trading partners like the US, rise in trade cost, and volatility in commodity prices. Attacks on shipping in the Red Sea and drought in the Panama Canal have resulted in trade flows being re-routed, increasing journey time and costs. India's merchandise trade relies heavily on maritime trade, so disturbances in major shipping routes can impact its economy. "It is critical to explore what these changing paradigms mean for India. Policies need to be a mix that straddles security concerns with economic considerations," the survey said, adding India's push towards manufacturing in complex and niche sectors through schemes such as PLI and Make in India aims to balance these goals. Further, the survey emphasised on the need to focus on improving India's competitiveness in many product areas. For example, it said, India has tremendous potential in becoming a large global exporter in agricultural commodities. Fostering stronger regional trade ties and adding more markets for Indian goods will help mitigate global demand fluctuations. "In an era when global economic growth is likely to be buffeted by geopolitical tensions and protectionism, growing India's exports of goods and services will be a stiffer challenge than before," it cautioned. Commenting on this, Rumki Majumdar, Economist, Deloitte India, said that despite global uncertainties, India's exports are recording positive growth rates. "That shows the resilience of our exports amidst global uncertainties," she said, adding, "by transforming our export basket and focusing on higher margins and value addition across various sectors, India will easily achieve its ambition of USD 2 trillion in exports by 2030-31."

India's trade deficit expected to decline further: Economic Survey

Union Minister for Communications, Electronics and IT, <keyword id="7796574" type="General" weightage="20" keywordseo="Ashwini-Vaishnaw" source="Orion">Ashwini Vaishnaw</keyword>, announced a significant milestone in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s IT hardware sector, stating that 27 companies have received approval under the <keyword id="8940266" type="General" weightage="50" keywordseo="production-linked-incentive-scheme" source="Orion">Production Linked Incentive Scheme</keyword> (<keyword id="53367" type="General" weightage="100" keywordseo="pli" source="Orion">PLI</keyword>) within a short timeframe. Vaishnaw said, "As you're aware, a few months back, PM Modi approved the Production Linked Incentive Scheme (PLI) scheme for IT hardware. And within the very short time frame, I'm very happy to announce that 27 companies have been approved for the PLI." During a press conference, Vaishnaw highlighted that nearly 95 per cent of these approved companies, totalling 23, are ready to commence immediate manufacturing. <keyword id="14377000" type="General" weightage="50" keywordseo="vaishaw" source="Orion">Vaishaw</keyword> said, "The best part is almost 95 per cent of these, the exact number is 23 out of these are ready to start their manufacturing on day 0. And about 4 companies will start their manufacturing within 90 days". Minister added, "These 27 applications will lead to about investment of Rs 3 thousand crores additional production amount Rs 3 lacs 50 thousand crores and direct employment of about Rs 50 thousand and indirect employment about a lac and 50 thousand. So total employment about 2 lac will be created. The value chain is shifting to India". The remaining four companies are expected to initiate manufacturing within the next 90 days. The approved applications are projected to result in an additional investment of Rs 3,000 crores, with an overall production value of Rs 3.5 lakh crores. The direct employment generated is estimated at around 50,000, while indirect employment opportunities will reach approximately 1.5 lakh, contributing to a total employment boost of 2 lakh. Vaishnaw mentioned 27 companies that have received the PLI approval include Dell, Foxconn, HP, Flextronics, Padget, Lenovo, New Link, Zenus, Mega and <keyword id="545507" type="General" weightage="50" keywordseo="optimus" source="Orion">Optimus</keyword>, signalling a significant shift in the value chain toward India. The PLI Scheme for IT Hardware, introduced by Prime Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> and notified on May 29, 2023, with a budgetary outlay of Rs 17,000 crores, aims to enhance the IT hardware manufacturing ecosystem in the country. The scheme is anticipated to stimulate local manufacturing, encouraging the localization of components and sub-assemblies and fostering the development of a robust supply chain within India. Ashwini Vaishnaw previously reported an outstanding response to the PLI scheme for laptops and PCs, with 32 applications received, including major players like HP India, Dell, Acer, Lenovo, and Thomson. The scheme is poised to bring expected incremental production of Rs 3,35,000 crores, an incremental investment of Rs 2,430 crores, and an anticipated direct employment boost of 75,000. The PLI schemes, a part of India's Atmanirbhar and 'Make-in-India' initiatives, aim to enhance global competitiveness, attract investments, boost exports, integrate India into the global supply chain, and reduce dependency on imports across various sectors. (ANI) SEE ALSO: <a href="https://www.businessinsider.in/sports/webstories/ind-vs-aus-icc-world-cup-final-past-battles-head-to-head-record-and-more/slidelist/105309620.cms">India vs Australia ICC World Cup final – Past battles, head-to-head record and more</a> <a href="https://www.businessinsider.in/business/telecom/news/jio-strengthens-market-leadership-with-3-25-mn-new-subscribers-vis-decline-slows/articleshow/105289414.cms">Jio strengthens market leadership with 3.25 mn new subscribers, Vi’s decline slows</a> <a href="https://www.businessinsider.in/stock-market/news/after-two-months-of-selling-fpis-bet-big-on-india-after-diwali/articleshow/105282517.cms">After two months of selling, FPIs bet big on India after Diwali</a>

"27 companies have been approved for PLI": Ashwini Vaishnaw on India's IT hardware revolution

New Delhi, Aug 9 (IANS) Top consumer electronics companies like HP, <keyword id="6354427" type="General" weightage="80" keywordseo="apple" source="Orion">Apple</keyword> and <keyword id="28251" type="General" weightage="100" keywordseo="dell" source="Orion">Dell</keyword> have urged the government to extend the November 1 deadline for the licences required for PCs, laptops and tablets by at least and year, as it will take time to configure and set up manufacturing/assembling units as per new guidelines. In a meeting with the <keyword id="3428254" type="General" weightage="50" keywordseo="ministry-of-electronics-and-information-technology" source="Orion">Ministry of Electronics and Information Technology</keyword> (MeitY) officials on Tuesday, also attended by leading industry bodies the <keyword id="18336155" type="General" weightage="50" keywordseo="manufacturing-association-of-it-hardware" source="Orion">Manufacturing Association of IT Hardware</keyword> (MAIT) and the <keyword id="7825659" type="General" weightage="50" keywordseo="india-cellular-and-electronics-association" source="Orion">India Cellular and Electronics Association</keyword> (ICEA), the tech companies conveyed to the government they need more time to set up manufacturing units in the country, according to sources. According to reports, some 44 companies, including some leading global players, have submitted applications for incentives under the production-linked incentive (PLI) 2.0 scheme for hardware. According to the notification by the Directorate General of Foreign Trade (DGFT), for clearance of import consignments with effect from November 1, 2023, a valid licence for restricted imports is required. The government has told tech companies that the restrictions are not to ban imports but to promote exports via domestic manufacturing, according to industry representatives who attended the meeting. The <keyword id="6474066" type="General" weightage="50" keywordseo="economic-times" source="Orion">Economic Times</keyword> was first to report on the development. The Central government earlier deferred its decision to restrict the import of certain categories of laptops and computers until November 1, allowing companies three-months time to import these devices. Post November 1, no entity will be allowed to import laptops, computers, and related items without a license. "Import consignments can be cleared till October 31, 2023, without a licence for restricted imports," the notification said, adding that liberal transitional arrangements will be notified for the import of laptops, tablets, all-in-one personal computers, and servers till October 31. This is a partial reversal from its August 3 order, which had imposed import restrictions on these devices with immediate effect. The Centre has said the restrictions were imposed for security reasons and also for promoting the 'Atmanirbhar Bharat’ mission. <ul class="list-img-col"><li><a href="https://photo.iansnews.in/detail/asus-gaming-laptop-321389-id=2670928" target="_blank"></a></li></ul>

Apple, HP Dell  and others seek Nov 1 laptop import restriction deadline extended by a year

<ul><li>India announced a new production-linked incentive (PLI) scheme for IT hardware worth ₹7,250 crore on February 24.</li><li>This includes boosting the domestic production of items like laptops, tablets, all-in-one personal computers (PCs) and servers.</li><li>According to Union Minister <keyword id="6354886" type="PERSON" weightage="20" keywordseo="Ravi-Shankar-Prasad">Ravi Shankar Prasad</keyword>, the Indian government wants India’s IT hardware industry to be as successful as its IT services sector on the global stage.</li></ul>The Indian government announced a new production-linked incentive (PLI) scheme for IT hardware today. It includes products like laptops, tablets, all-in-one personal computers (PCs) and servers. “This completes the triangle of electronic manufacturing in India,” said Union Minister Ravi Shankar Prasad during today’s <keyword id="6355512" type="ORGANIZATION" weightage="20" keywordseo="union-cabinet">Union Cabinet</keyword> briefing. The other two corners of the triangle are the PLI for mobile phones which was announced in April last year and the <a href="https://www.businessinsider.in/business/telecom/news/government-announces-12000-crore-pli-scheme-for-telecom-sector/articleshow/81053464.cms">PLI for telecom gear</a> announced last week. According to Prasad, the Indian government’s aim is to make Indian IT hardware as successful as <keyword id="680086" type="PERSON" weightage="20" keywordseo="Indian-IT-services">Indian IT services</keyword> — which includes companies like Tata Consultancy Services (<keyword id="6357150" type="ORGANIZATION" weightage="20" keywordseo="tcs">TCS</keyword>), HCL Technologies, <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword>, <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword> and <keyword id="43217" type="CITY" weightage="20" keywordseo="Tech-Mahindra">Tech Mahindra</keyword> — on a global scale. “Ten target sectors along with specific product lines having high growth potential were identified by NITI Aayog for implementation of PLI Schemes. PLI Scheme for IT Hardware is a further step in that direction,” said Prasad, who has the Information Technology and Electronics portfolio in the central government. The government will provide incentives worth ₹7,350 crore over the next four years. It estimates that production will hit ₹3.26 lakh crore with exports worth ₹2.45 lakh crore led by five global champions and ten national champions. “Right now, the value addition of IT hardware is around 5-10%. In the next five years, this will increase to 20-25%,” said Prasad. The direct and indirect revenues generated from production under the new PLI scheme are expected to be ₹ 15,760 crore over next 4 years. It also is expected to generate over 1,80,000 jobs during the same time period. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/nse-halts-trading-after-data-glitches-stop-nifty50-and-bank-nifty-from-updating/articleshow/81186539.cms">India’s largest stock exchange halts trading after data glitches stop Nifty50 and Bank Nifty from updating</a> <a href="https://www.businessinsider.in/defense/news/dassault-aviation-has-an-india-it-services-unit-offering-defence-msmes-a-digital-trial-room-where-they-can-test-their-products-to-bag-more-contracts/articleshow/81183313.cms">INTERVIEW: Dassault Group has an India software services unit offering defence MSMEs a digital ‘trial room’ where they can test their products to bag more contracts</a> <a href="https://www.businessinsider.in/finance/banks/news/rbi-wants-you-to-memorise-all-your-debit-and-credit-card-numbers/articleshow/81186570.cms">RBI wants you to memorise all your debit and credit card numbers — Amazon, Zomato, Netflix and others argue this will make online payments more tedious</a>

Indian government wants its IT hardware industry to be as globally successful as TCS, HCL Tech and Infosys — announces PLI scheme worth ₹7,250 crore

As <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> doubles down on local manufacturing of electronics hardware, the country saw an investment of Rs 2,595 crore and production worth Rs 67,275 crore under the Production Linked Incentive (<keyword id="53367" type="General" weightage="100" keywordseo="pli" source="Orion">PLI</keyword>) scheme for large-scale electronics manufacturing, of which, 31 per cent or Rs 20,568 crore worth products were exported (till June 2021), the <keyword id="13014635" type="General" weightage="20" keywordseo="Economic-Survey-2021-22" source="Orion">Economic Survey 2021-22</keyword> said. The PLI for large-scale electronics manufacturing was notified on April 1, 2020 which provides an incentive of 4 to 6 percent on incremental sales (over base year) to eligible companies involved in mobile phone manufacturing and manufacturing of specified electronic components, including assembly, testing, marking and packaging (<keyword id="2035122" type="General" weightage="20" keywordseo="atmp" source="Orion">ATMP</keyword>) units. According to the Survey, under the PLI scheme for IT hardware (notified on March 3, 2021) the total sales of manufactured goods in the target segment stood at Rs 503 crore, with Rs 16.50 crore investment (as per Q2 FY21). The target segment under the PLI scheme includes laptops, tablets, all-in-one PCs and servers. This PLI scheme extends an incentive in the range of 1 to 4 per cent on net incremental sales (over base year) of goods manufactured in India and covered under the target segment, to eligible companies, for a period of four years. Recently, the government approved an outlay of Rs 76,000 crore ($10 billion) for the development of semiconductors and display manufacturing ecosystem. "The government's intervention to boost this industry has come at a time when the global economy is facing an acute shortage of semiconductors due to severe disruptions in supply chains," said the Survey. The PLI and other schemes to boost semiconductors will not only help domestic companies to overcome the challenges posed by Covid-19 but also assist them to become globally competitive, especially in chip making, it added. Semiconductors are an integral part of modern technology used in automobiles and its components, electronic and medical devices. The government had notified the National Policy on Electronics 2019 (NPE 2019) scheme to position India as a global hub for Electronics System Design and Manufacturing (<keyword id="819123" type="General" weightage="20" keywordseo="esdm" source="Orion">ESDM</keyword>) by encouraging and driving capabilities in the country for developing core components, including chipsets. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/opinion-there-should-be-continued-focus-on-building-urban-infrastructure-and-sustainable-smart-cities/articleshow/89247793.cms">OPINION: There should be continued focus on building urban infrastructure and sustainable smart cities</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/india-climbs-35-ranks-in-global-innovation-index-but-lags-in-patents-economic-survey/articleshow/89247222.cms">India climbs 35 ranks in Global Innovation Index but lags in patents: Economic Survey</a>

India saw production worth ₹67,275 crore under PLI for large-scale electronics, reveals Economic Survey 2021-22

As PC and laptop makers urge the government to rethink its decision on import licensing requirements accompanied by a quota, the industry stakeholders have met <keyword id="296566" type="General" weightage="80" keywordseo="it-ministry" source="Orion">IT Ministry</keyword> officials to seek solutions on the matter. The meeting discussed proposed changes, like linking the import of IT hardware to the local manufacturing of a company value and its export value of electronic items, according to sources. The meeting on Friday was called to give suggestions on how the proposed import management system should work and get the stakeholders' feedback. Another meeting is likely to happen again next week to continue discussions on the issue. Last month, the <keyword id="7825659" type="General" weightage="80" keywordseo="india-cellular-and-electronics-association" source="Orion">India Cellular and Electronics Association</keyword> (<keyword id="6816005" type="General" weightage="80" keywordseo="icea" source="Orion">ICEA</keyword>) wrote to the IT Ministry, requesting the government to rethink its decision on import licensing requirement accompanied by a quota, which was extended by 3 months until October 31, fearing that this may lead to price rise in consumer electronics products as companies are not yet prepared for manufacturing PCs, laptops and servers domestically at scale. The letter said that an overarching factor that should be taken into consideration in "avoiding supply chain disruption till domestic production ramps up" is that any "reduction in supplies or even an indication will lead to hoarding and market distortion". This, in turn, can push up consumer prices, "which will adversely impact not just key stakeholders such as students, but also those who are the core of growing the digital economy, i.e. start-ups, IT and ITES firms, BPOs". The industry seeks at least nine-month breather after the PLI for IT Hardware was launched. "The government may undertake a re-assessment of the investment pipeline and the supply situation before inviting the industry to discuss whether any further policy intervention is needed at that stage. It may be too early to assess the full implication of the new scheme before then," according to the letter. Where servers are concerned, the ICEA has received inputs that companies in that sector seek a relook at their inclusion in the proposed intervention. The Central government earlier deferred its decision to restrict the import of certain categories of laptops and computers until November 1, allowing companies three-months time to import these devices. Post November 1, no entity will be allowed to import laptops, computers, and related items without a license. The PLI 2.0 for IT hardware has garnered applications from 40 companies including global and domestic. The expected incremental production under the scheme is around Rs 3.35 lakh crore. SEE ALSO:<a href="https://www.businessinsider.in/politics/india/news/g20-leaders-summit-adopts-new-delhi-declaration/articleshow/103535369.cms" target="_blank"></a> <a href="https://www.businessinsider.in/politics/india/news/g20-leaders-summit-adopts-new-delhi-declaration/articleshow/103535369.cms" target="_blank">G20 Leaders Summit adopts New Delhi Declaration</a><a href="https://www.businessinsider.in/politics/india/news/g20-summit-pm-modi-announces-launch-of-global-biofuel-alliance/articleshow/103535675.cms" target="_blank"></a> <a href="https://www.businessinsider.in/politics/india/news/g20-summit-pm-modi-announces-launch-of-global-biofuel-alliance/articleshow/103535675.cms" target="_blank">G20 Summit: PM Modi announces launch of Global Biofuel Alliance</a><a href="https://www.businessinsider.in/entertainment/webstories/from-dream-girl-2-to-tootsie-epic-roles-which-saw-male-actors-crossdress/slidelist/103525812.cms" target="_blank"></a> <a href="https://www.businessinsider.in/entertainment/webstories/from-dream-girl-2-to-tootsie-epic-roles-which-saw-male-actors-crossdress/slidelist/103525812.cms" target="_blank">From Dream Girl 2 to Tootsie – Epic roles which saw male actors crossdress</a>

PC manufacturers meet MeitY officials on import curbs, seek solutions

New Delhi, <keyword id="1065858" type="General" weightage="20" keywordseo="iphone-maker" source="Orion">iPhone-maker</keyword> <keyword id="1676619" type="General" weightage="20" keywordseo="apples-supplier" source="Orion">Apple's supplier</keyword> <keyword id="6354671" type="General" weightage="20" keywordseo="foxconn" source="Orion">Foxconn</keyword> has committed to doubling employment, investments and business size in India by next year, underlining its smooth and rapid growth in the country, according to a social media post by a company executive. Wishing Prime Minister Narendra Modi on his birthday on Sunday, Foxconn representative V Lee wrote in a LinkedIn post: "Under your leadership, Foxconn has grown smoothly and rapidly in India". "We will work even harder to present you with a greater birthday gift next year, aiming for another doubling of employment, FDI, and business size in India," Lee said in the post. Replying to the post on X (formerly Twitter), IT, Electronics and Communications Minister Ashwini Vaishnaw said that the Government is "fully committed" in its endeavour to support and facilitate. Earlier this month, Young Liu, Chairman and CEO of Hon Hai Technology Group (Foxconn), said that India will be an important country in terms of manufacturing in the future, his comment adding to a growing chorus of global voices acknowledging the country's bold moves to position itself as electronics and hi-tech production powerhouse. In an interaction with reporters in Taipei, the top honcho of the Taiwanese electronics manufacturing giant had further said the development of the entire ecosystem and industrial chain, and opportunities for development in India are "very, very huge opportunities". "If there is no big change, India will be a very important country in terms of manufacturing in the future," Liu had said. In the past, it took 30 years to build the entire supply chain ecosystem in China, he noted, adding that while it will take an "appropriate amount of time in India" and the process will be shorter given the experience. The environment too is not quite the same, he had said pointing to the advent of new technologies like AI and generative AI. India is wooing global IT and electronics players with policy sweeteners and incentive schemes, making a push to position itself as a global hub for hi-tech manufacturing. India hopes to play on the strength of its storied talent and skill base, vibrant market, and enabling policies to corner a substantial chunk of new investments flowing into electronics and semiconductor production, and global value chains. Recently, as many as 40 companies, including big names like Foxconn Group, HP, Dell and Lenovo, applied for incentives under India's Production Linked Incentive (PLI) IT hardware scheme for manufacturing laptops, PCs and servers. Last month, Foxconn also said it sees the potential of investing several billions of dollars in India if it gets to completely implement its plan. Liu during Foxconn's second quarter earnings call in August had said that the company's Indian arm has achieved a turnover of close to USD 10 billion on an annual basis and there is a lot of investment potential in India. He had said Foxconn operates about nine campuses in India.

Foxconn commits to double employment, investments in India

Buoyed by attractive government incentives towards local manufacturing, <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> is all set to reach a remarkable $10 billion (over Rs 82,000 crore) worth smartphone exports in the fiscal year ending March 31, industry data showed on Wednesday. According to the India Cellular and Electronics Association (ICEA), <keyword id="6354427" type="General" weightage="80" keywordseo="apple" source="Orion">Apple</keyword>'s 'Make in India' smartphone now constitute 50 per cent of total exports. <keyword id="10591" type="General" weightage="50" keywordseo="samsung" source="Orion">Samsung</keyword> is second with 40 per cent mobile exports while other smartphone players constitute 10 per cent export share. Smartphone exports from India have doubled from a corresponding period from last fiscal year, driven by production-linked incentive (PLI) schemes. The top five global destinations India currently exports mobile phones to are the UAE, the US, the Netherlands, the UK and Italy, according to the ICEA data. "Efficacy and maturity of an industry is only judged with robust exports. Mobile phones policy and outreach initiatives have been relentless and the results are in front of us," Pankaj Mohindroo, Chairman of ICEA, told IANS. "The mobile phone industry will cross $40 billion manufacturing output and 25 per cent exports at $10 billion is a stellar performance," he added. Reports surfaced earlier this year that Tim Cook-led Apple will quickly shift some of its China manufacturing to India and Vietnam in the next 2-3 years. India is likely to produce 45-50 per cent of Apple's <keyword id="57315" type="General" weightage="80" keywordseo="iphones" source="Orion">iPhones</keyword> by 2027, at par with China, where 80-85 per cent of iPhones were produced in 2022. According to estimates by DigiTimes research analysts, India and Vietnam are to become the biggest beneficiaries of smartphone supply chain migration out of China. India accounted for 10-15 per cent of iPhones' overall production capacity at the end of 2022. Apple became the first smartphone player in India to have exported $1 billion worth iPhones in the month of December. It currently manufactures iPhones 12, 13, 14 and 14 Plus in the country. According to Mohindroo, the country is now moving in a different direction, "which is largely export-focused and led by the government's performance-linked scheme (PLI) push". The government is also working to strengthen the electronic manufacturing ecosystem beyond mobiles to boost its global share in hearables and wearables, IT hardware and electronic components etc. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indian-railways-reduces-fare-of-ac-3-tier-economy-tickets/articleshow/98908343.cms">Indian railways reduces fare of AC-3 tier economy tickets</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/gold-price-tumbled-by-480-to-58770-per-10-gram-on-wednesday/articleshow/98909456.cms">Gold price tumbled by ₹480 to ₹58,770 per 10 gram on Wednesday</a>

India to cross $10 billion worth mobile exports in FY22-23, Apple leads at 50%

<ul><li>The Indian government has revamped its import policy to curb imports of laptops and tablets.</li><li>Import of laptops and tablets will now require a licence.</li><li>Here’s how the government’s new regulations could impact the common man.</li></ul>The Indian government on Thursday revamped its import policy and announced curbs on importing several products, including laptops, tablets, all-in-one PCs and more. While the import of these devices has not been banned, it can only be done by those holding a valid licence for restricted imports. “Import of Laptops, Tablets, All-in-one Personal Computers, and Ultra small form factor Computers and Servers falling under HSN 8741 shall be 'Restricted' and their import would be allowed against a valid Licence for Restricted Imports,” the government said in a notification. Update: The government has now deferred the import restrictions to November 1, allowing companies ample time to apply for licences and avoid issues. “Keeping in view global supply chain arrangements and long-term commitments of the industry stakeholders, liberal transitional arrangements are notified for these imports till October 31, 2023,” said the government. <cmsannotation type="cmsannotation" annotationid="What does this mean?" comment="subhead" text="What does this mean?">What does this mean?</cmsannotation> So far, companies were to import pre-built or fully assembled laptops and tablets to the country without any licensing requirements. Now, companies will be required to licence the devices before they can import them to India. <cmsannotation type="cmsannotation" annotationid="What will be the impact?" comment="subhead" text="What will be the impact?">What will be the impact?</cmsannotation> The new import norms will require companies to licence laptops and tablets before they can sell them in India. This may not only cost the company money, it may also result in devices getting delayed when compared to earlier. While companies who were caught by surprise by the sudden announcement are still evaluating the impact of the new regulations, a<a href="https://www.bloomberg.com/news/articles/2023-08-04/apple-samsung-halt-india-laptop-imports-after-sudden-curbs"> report</a> from Bloomberg has revealed that HP, Samsung and Apple have already put a stop to imports of new laptops and tablets in the country. <cmsannotation type="cmsannotation" annotationid="Short term impact" comment="subhead" text="Short term impact">Short term impact</cmsannotation> While companies are evaluating the impact and are in talks with the authorities, the move may have an adverse impact on both the companies and the customers in the short term. The decision comes just ahead of the festive season, where companies sell a bulk of their devices and customers usually plan their purchases to get the most out of discounts and bank offers. "The government's move is aimed at promoting domestic production and reducing dependence on imports. The industry comprises around 12 million units, and this restriction may lead to some short-term supply disruptions, especially for brands like Apple, HP, and Lenovo. Moreover, with the festive season approaching, a significant period for sales, the industry may face challenges in meeting demand," said Tarun Pathak, research director, Counterpoint Research. As companies will need some to move manufacturing, there may be some short-term impact on the prices and the availability. However, no company has changed the prices <cmsannotation type="cmsannotation" annotationid="Reason for the restrictions" comment="subhead" text="Reason for the restrictions">Reason for the restrictions</cmsannotation> The restrictions have been put in to boost local manufacturing of laptops and tablets, similar to how it pushed for local manufacturing of smartphones. With the new restrictions, the government may want big players to push the companies to assemble or manufacture their devices in India. According to Pathak, the total laptop and PC market size is close to $8 billion and around 65% of these devices are currently imported to India. In addition to the creation of more jobs, this move may also be aimed at curbing imports from China, which makes up for a majority of laptops and tablets imported into India. <cmsannotation type="cmsannotation" annotationid="Local companies hail move" comment="subhead" text="Local companies hail move">Local companies hail move</cmsannotation> While this move may not be seen favourably by some companies, domestic manufacturers have spoken in support of the government’s decision. "We believe the government’s decision to curb the laptop, tablet, and computer imports is progressive and has the potential to boost indigenous electronics manufacturing in the country and also help in achieving Make-in-India vision,” said A. Gururaj, managing director, Optiemus Electronics in a statement to Business Insider India. “We currently hold the PLI for IT Hardware and are manufacturing laptops for notable brands. With this move, we expect further expansion of our capacity to manufacture these devices,” he added. "We are confident that valid licences will be provided to trusted industry partners which will enable ease of doing business and unrestricted access to trusted brands for digital consumers," said Pankaj Mohindroo, chairman, India Cellular and Electronics Association (ICEA). SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-sees-a-declines-in-q2-vivo-in-the-lead/articleshow/102417485.cms">Indian smartphone market sees a declines in Q2; Vivo in the lead</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-recover-in-july-2023/articleshow/102347978.cms">Electric two-wheeler sales recover after spending June in the pitlane</a> <a href="https://www.businessinsider.in/business/auto/news/tata-motors-posts-net-profit-of-3203-cr-in-q1-2023-24-on-improved-jlr-performance/articleshow/102108825.cms">Tata Motors posts net profit of ₹3,203 cr in Q1 on improved JLR performance</a>

India puts curbs on laptop and tablet imports – here’s how it could impact you

<ul><li>The Indian government is set to role out the second phase of <keyword id="10820295" type="UNKNOWN" weightage="20" keywordseo="covid-19-vaccination-from-march-1">COVID-19 vaccination from March 1</keyword>.</li><li><keyword id="20566" type="COMPANY" weightage="20" keywordseo="senior-citizens">Senior citizens</keyword> above the age of 60 years and those over 45 years old with comorbidities will be eligible for the vaccine. </li><li>The vaccine doses will be given free of cost at government hospitals and will also be available at private clinics, but the price tag for private distribution is yet to be decided.</li></ul>The Indian government announced today that COVID-19 vaccine doses for senior citizens will be available starting March 1. This includes anyone who is above 60 years of age and people above 45 years of age with comorbidities. “The COVID-19 vaccine will be available across 10,000 government facilities and many private hospitals,” said Union Minister Prakash Javadekar during the cabinet briefing. While the vaccine will be given free of cost at government hospitals, the cost of the vaccine at private hospitals is yet to be decided by the Health Ministry. According to Javadekar, the benchmark for this will be decided within the next two to three days after consulting with the vaccine manufacturers. This comes after the first phase of COVID-19 vaccine drive, which was <a href="https://www.businessinsider.in/science/health/news/covid-19-vaccination-in-india-health-ministry-releases-list-of-potential-side-effects/articleshow/80278217.cms">initiated on January 15</a>, has been completed. According to Javadekar, over 1.07 crore people were vaccinated during this time — most of them frontline workers. Among them, around 14 lakh have gotten the second dose as well. As the vaccination reaches out to the masses, the world’s largest vaccine maker Serum Institute of India (SII) has been asked to focus on India’s needs, tweeted its CEO Adar Poonawalla. <div type="twitter" handle="adarpoonawalla" handlename="Adar Poonawalla" image="http://pbs.twimg.com/profile_images/1302181254746509313/Kn1fTCv6_normal.jpg" favoritecount="28398" retweetcount="2609" status="Dear countries &amp; governments, as you await #COVISHIELD supplies, I humbly request you to please be patient,… https://t.co/tQQsGkPtVW" createdat="1613882072000" id="1363346341275967488"></div> Those opting for the COVID-19 vaccine will either receive SII’s Covishield or Bharat Biotech’s Covaxin. The potential, but mild, side effects of the vaccines include headache, fatigue, myalgia (pain in muscle), injection site tenderness, malaise (weakness), pyrexia, chills, arthralgia, and nausea, according to the <a href="https://www.businessinsider.in/science/health/news/covid-19-vaccination-in-india-health-ministry-releases-list-of-potential-side-effects/articleshow/80278217.cms">Health Ministry. </a> SEE ALSO: <a href="https://www.businessinsider.in/news/covid-19-vaccines-in-india-are-at-risk-of-expiring-while-anxious-senior-citizens-wait-for-their-turn/articleshow/81127178.cms">COVID-19 vaccines in India are at risk of expiring while anxious senior citizens wait for their turn</a> <a href="https://www.businessinsider.in/tech/enterprise/news/indian-government-wants-its-it-hardware-industry-to-be-as-globally-successful-as-tcs-hcl-tech-and-infosys-announces-pli-scheme-worth-7250-crore/articleshow/81189588.cms">Indian government wants its IT hardware industry to be as globally successful as TCS, HCL Tech and Infosys — announces PLI scheme worth ₹7,250 crore</a> <a href="https://www.businessinsider.in/stock-market/news/nse-halts-trading-after-data-glitches-stop-nifty50-and-bank-nifty-from-updating/articleshow/81186539.cms">India’s largest stock exchange halts trading after data glitches stop Nifty50 and Bank Nifty from updating</a>

COVID-19 vaccination for senior citizens to start from March 1 in India — will be free at government hospitals

New Delhi, Mar 19 () The government is formulating a production linked incentive scheme to promote large-scale electronics manufacturing in segments including mobile phones and specified electronic components, Paliament was informed on Thursday. Minister for Electronics and IT Ravi Shankar Prasad, in a written reply in the Rajya Sabha, said there has been no stagnation or slowdown in the electronics sector in the last two years. A high-level committee under the chairmanship of CEO, Niti Aayog, comprising finance secretary, commerce secretary, secretary, Department for Promotion of Industry and Internal Trade (DPIIT); secretary, Ministry of Electronics and Information Technology (MeitY) and senior adviser of Niti Aayog was constituted to deliberate and give recommendations on making India a manufacturing hub for electronics, he said. "Based on the deliberations of the aforesaid high-level Committee and an inter-ministerial sub-committee constituted thereafter, a Production Linked Incentive (PLI) Scheme is being formulated to promote large scale electronics manufacturing in target segments, namely, mobile phones and specified electronic components," Prasad said. He said the government attaches high priority to electronics hardware manufacturing and it is an important pillar of both 'Make in India' and 'Digital India' programmes. "As a result of several initiatives and pro-growth policies undertaken by the Government and efforts of the industry, India's electronics production has increased from Rs 1,90,366 crore in 2014-15 to Rs 4,58,006 crore in 2018-19, at a Compound Annual Growth Rate (CAGR) of about 25 per cent," he said. The domestic electronics manufacturing is on a growth path, he added. MBI ABMABM

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India puts curbs on laptop and tablet imports – here’s how it could impact you

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