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New Delhi, Mar 21 () The Union Cabinet has approved production-linked incentives worth Rs 40,995 crore for electronics manufacturing companies.Sharing further details, Union Communications Minister Ravi Shankar Prasad on Saturday said the government will dole out incentives worth Rs 40,995 crore to boost manufacturing of electronics products."Two long-term policy decisions have been taken to make India hub of electronics manufacturing in new directions and medical electronics. Cabinet has approved production linked-incentive for electronics companies. We will give Rs 40,995 crore in the coming five years for production linked-incentive," Prasad said.Incentives will be linked to incremental sales and capital investment of the companies, he added."...because of these schemes, we hope to generate manufacturing revenue potential of Rs 10 lakh crore by 2025," Prasad said.The minister said that incentive of 25 per cent will be given on capital investment under the scheme. PRS MKJ

Cabinet approves production-linked incentives for electronics mfg firms

Moody's on Friday slashed <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>'s GDP growth projection to 7 per cent for 2022, saying that global slowdown and high domestic interest rates would dampen economic momentum. This is the second time in as many months that Moody's Investors Service has cut India's growth estimates for 2022. In September, it had cut the projection for the year to 7.7 per cent from 8.8 per cent pegged in May. "For India, the 2022 real GDP growth projections have been lowered to 7 per cent from 7.7 per cent. The downward revision assumes higher inflation, high-interest rates and slowing global growth will dampen economic momentum by more than we had previously expected," said the Global Macro Outlook 2023-24. Moody's expects growth to decelerate to 4.8 per cent in 2023 and then to rise to 6.4 per cent in 2024. The Indian economy grew 8.5 per cent in the 2021 calendar year, according to Moody's. As per official GDP estimates, the economy expanded 13.5 per cent in April-June 2022-23, higher than the 4.10 per cent growth clocked in January-March. GDP figures for the September quarter would be released at the end of this month. Moody's said the weakening of the rupee and high oil prices continue to exert upward pressures on inflation, which has remained above the <keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword>'s tolerance level of 6 per cent for much of this year. Retail inflation increased to 7.41 per cent in September, while wholesale inflation remained in double-digit for the 18th straight month at 10.7 per cent. The central bank has hiked interest rates by 190 basis points between May and September to 5.90 per cent to contain inflation. Moody's expects the RBI to raise the repo rate by another 50 basis points or so as part of its objective to tame inflation and support the exchange rate. Eventually, the RBI will likely shift from inflation management to growth considerations, provided that the rate increase has the desired effect of taming inflation, it said. Moody's joins a host of agencies which have slashed India's economic growth projections for the current fiscal year (April-March) citing a slowdown in the global economy, the Russia-Ukraine war, rising interest rates and inflation. While the <keyword id="6354424" type="General" weightage="50" keywordseo="world-bank" source="Orion">World Bank</keyword> has revised down its growth estimate for India by 100 basis points to 6.5 per cent, IMF has trimmed it to 6.8 per cent from 7.4 per cent. The Asian Development Bank too has cut its projection to 7 per cent, from 7.5 per cent earlier. S&amp;P Global Ratings revised its growth forecast to 7.3 per cent for the current fiscal year from 8.7 per cent. The RBI expects economic growth at 7 per cent for this fiscal year. Moody's said the underlying growth dynamics are fundamentally strong, boosted by a rebound in services activity. Government capital expenditure and manufacturing capacity utilization have also improved. September exports are down from the peak in March, but they are still around 30 per cent above the pre-pandemic level. Non-food credit growth shows solid momentum, it said. The private sector is now well-positioned to increase capex spending. Also, the <keyword id="8940266" type="General" weightage="50" keywordseo="production-linked-incentive-scheme" source="Orion">Production Linked Incentive Scheme</keyword> to attract investment in 14 key manufacturing sectors is showing results, the rating agency noted. "While these domestic strengths will continue to support the domestic growth narrative, global financial tightening and slowing external demand will pose downward pressure on growth in 2023," Moody's said. It said several mitigating factors will support growth in large emerging market economies. Domestic pent-up demand will continue to support reopening momentum. Services activity has rebounded strongly in countries, including India. "With demand in G-7 (group of 7 developed nations) countries weakening, large domestically driven emerging economies such as India and Brazil will likely be less vulnerable to slowing trade growth than will export-oriented countries," it added. Moody's said the global economy is on the verge of a downturn amid extraordinarily high levels of uncertainty amid persistent inflation, monetary policy tightening, fiscal challenges, geopolitical shifts and financial market volatility. Global growth will slow in 2023 and remain sluggish in 2024. Still, a period of relative stability could emerge by 2024 if governments and central banks manage to navigate their economies through the current challenges, Moody's added. It projected the GDP growth of G-20 economies to decelerate to 1.3 per cent in 2023, significantly lower than its previous estimate of 2.1 per cent. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/medanta-hospitals-operator-global-health-to-announce-allotment-today-heres-how-you-can-check-allotment-status/articleshow/95436354.cms">Medanta Hospitals operator Global Health to announce allotment today, here’s how you can check allotment status</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/crypto-exchange-coinbase-to-lay-off-more-employees-amid-ftx-saga/articleshow/95444070.cms">Crypto exchange Coinbase to lay off more employees amid FTX saga</a>

Moody's cuts India's growth projection for 2022 to 7% on global slowdown, rising rates

Leasing of industrial and warehousing space was highest in Delhi-NCR and adjoining areas during 2022 at 7.3 million square feet driven mainly by demand from third-party logistics and e-commerce firms, according to <keyword id="6376943" type="General" weightage="100" keywordseo="cbre" source="Orion">CBRE</keyword>. The leasing grew by 6 per cent in Delhi-NCR to 7.3 million square feet in 2022 from 6.9 million square feet in the previous year. In its latest report, CBRE said that the leasing of industrial and logistics space across eight major cities rose 8 per cent to 31.6 million square feet in 2022 from 29.4 million square feet in the previous year. Commenting on the report, <keyword id="330930" type="General" weightage="50" keywordseo="anshuman-magazine" source="Orion">Anshuman Magazine</keyword>, Chairman &amp; CEO - India, South-East Asia, Middle East &amp; Africa, CBRE, said, "The intent to strengthen supply chain among global and domestic companies drove the leasing activity in 2022." The leasing activity in 2023 is expected to remain range-bound, driven by sustained demand from 3PL (third party logistics), engineering &amp; manufacturing and retail firms, he added. "On the supply front, we foresee project completions to exceed the 2022 levels and be in line with space take-up during 2023," Magazine said. As per the data, in Mumbai, the leasing grew 36 per cent to 6.1 million square feet in 2022 from 4.5 million square feet in the previous year. The leasing of industrial and logistic space in Bengaluru fell 18 per cent to 5.2 million square feet from 6.4 million square feet. Chennai saw a marginal decline in leasing to 4 million square feet. In Hyderabad, the leasing rose 16 per cent to 3.7 million square feet from 3.2 million square feet. The leasing activities in Pune fell 64 per cent to 0.6 million square feet from 1.8 million square feet. In Kolkata, the leasing jumped to 3.8 million square feet from 1.9 million square feet. Leasing of industrial and logistics space was up 33 per cent in Ahmedabad during 2022 to 0.8 million square feet from 0.6 million square feet in the previous year. The consultant said that the overall leasing across eight cities grew despite global headwinds, and a slowdown in e-commerce demand and dissipation of the post-pandemic need to hold additional inventories. This is the second-highest leasing activity recorded in industrial and logistics after the 2019 peak of 32 million square feet. The total supply in 2022 touched 20.9 million square feet. The 3PL players accounted for about half of the annual space take-up, driven by heightened demand from interlinked stakeholders across the supply chain (wholesalers, retailers, &amp; e-commerce players) for the need to shore up distribution capabilities. Over the last five years, 3PL players have cumulatively leased more than 60 million square feet across India. A majority of this space take-up was led by domestic occupiers. Engineering &amp; manufacturing firms picked up pace in 2022 with a share of about 16 per cent in total leasing compared to 10 per cent in 2021. "For local engineering and industrial players, government policy enablers like the <keyword id="8870884" type="General" weightage="50" keywordseo="production-linked-incentive" source="Orion">Production Linked Incentive</keyword> (PLI) programme worked as a growth stimulant," the consultant said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/dedicate-mumbai-coastal-road-to-lata-didi-urges-mangeshkar-family/articleshow/97650326.cms">Dedicate Mumbai coastal road to Lata Didi, urges Mangeshkar family</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/byjus-to-miss-march-2023-deadline-for-group-level-profitability-results-delayed-again/articleshow/97650755.cms">BYJU's to miss March 2023 deadline for group level profitability, results delayed again</a>

Leasing of industrial, logistics space highest in NCR in 2022 across top 8 cities: CBRE

The <keyword id="6355512" type="General" weightage="20" keywordseo="Union-Cabinet" source="Orion">Union Cabinet</keyword> on Wednesday approved the much-anticipated <keyword id="8870884" type="General" weightage="20" keywordseo="production-linked-incentive" source="Orion">production linked incentive</keyword> (PLI) scheme for the textiles sector. Under the scheme incentives worth ₹10,683 crore will be provided over five years. According to the government, the move will especially positively impact states like Gujarat, <keyword id="6357713" type="General" weightage="20" keywordseo="Uttar-Pradesh" source="Orion">Uttar Pradesh</keyword>, <keyword id="13126" type="General" weightage="20" keywordseo="Maharashtra" source="Orion">Maharashtra</keyword>, Tamil Nadu, Punjab, Andhra Pradesh, Telangana, Odisha among others. The government expects investments of more than ₹19,000 crore into the sector during the five-year period. It is also expected to bring about additional production turnover of over ₹3 lakh crore during the period and create employment opportunities of over 7.5 lakh people directly and several lakhs more for supporting activities, as per the government. The government will give higher priority for investment in the aspirational districts and tier-3 cities. Industry participants have lauded the decision of the government. Apparel Export Promotion Council (AEPC) Chairman A. Sakthivel said that it will be a game changer for the Indian textile industry and will transform India's growth story. Sakthivel said that the scheme will result in fresh investment of gigantic proportions, expand manufacturing capacities and enhance exports multifold. "It will make India a key player in the global textile value chain with focus on high value MMF products. Besides, it will promote industrial development in backward regions of the country," he added. The focus of the <keyword id="8941225" type="General" weightage="20" keywordseo="PLI-SCHEME" source="Orion">PLI scheme</keyword> would be for the development of man-made fibre and technical fibre segments that are in high demand in advanced economies where India already has a big presence with its technical products. Commerce and Industry Minister Piyush Goyal said that fabric and garments made from these fibres would be a focus of the scheme so that world class facilities are built in the country. He also said that the government was also working on free trade agreements (FTAs) with advanced economies such as the UK, the US, EU that will help the country both ways to get requisition imports as well boost exports. FTA would also help the textile sector, the minister said, in getting a level playing field that faced unequal duties in some of these markets. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-and-airtel-stocks-fall-amid-reports-that-government-hasnt-discussed-proposal-for-a-telecom-relief-package/articleshow/86033281.cms">Vodafone Idea falls amid reports that government hasn’t discussed proposal for a telecom relief package</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/here-is-how-naukri-parent-info-edges-stock-went-up-23-in-the-last-one-month/articleshow/86032576.cms">Here is how Naukri parent Info Edge’s stock went up 23% in the last one month</a>

Union Cabinet approves PLI scheme worth ₹10,683 crore for textiles

The Production-Linked Incentive (PLI) Scheme for <keyword id="19899038" type="General" weightage="20" keywordseo="drones" source="keywords">drones</keyword> and drone components is a kickstarter for the sector to progress and should not be considered as a permanent subsidy scheme by the government, according to Union Minister <keyword id="19895367" type="General" weightage="20" keywordseo="Piyush-Goyal" source="keywords">Piyush Goyal</keyword>. "The <keyword id="19981334" type="General" weightage="20" keywordseo="PLI-scheme" source="keywords">PLI scheme</keyword> is not an end to itself, infect the purpose of the PLI is to kickstart the industry. This is not a permanent subsidy. The aim is not to make the industry dependent on the subsidy of the government," Goyal said. The Union Minister's remaks came during his address at the International Innovation Conclave organised by the <keyword id="22293565" type="General" weightage="20" keywordseo="PHD-Chamber-of-Commerce-Industry" source="keywords" meta.keywordsubtype="org" meta.entityname="PHD Chamber of Commerce &amp; Industry" meta.hostid="329" meta.entityid="PHD Chamber of Commerce &amp; Industry">PHD Chamber of Commerce &amp; Industry</keyword> (PHDCCI) in New Delhi on Thursday. Goyal noted that technological progress in the drone industry will help farmers in getting higher quality crops and will also help in increasing the yield of crops, The minister pointed out that drones will help in combating erratic weather patterns. Praising the development of technology and growth in the drone industry on the strength of innovation, he asserted that the development of the drone ecosystem and deploying them in villages across the nation aligns with the PM's 'NAMO Drone Didi' initiative that will help empower the women in the agriculture sector. "In the third term of the PM's administration we will work at triple the speed, ensure three times the result and hope to become the third largest economy in the world", said the Union Minister. He further stated that drones have the ability to contribute to the cooperative sector, Self-Help Groups (SHGs) and to Farmers Producer Organisation (FPOs) as a shared facility with the help of agri-infra funds in delivering fertilisers and reducing wastage and expenses of the farmers. The Union Minister said that for financing and mentoring of the drone ecosystem, (Small Industries Development Bank of India) SIDBI can be roped in to promote the sector. On the startup ecosystem, the Minister said that 18 Initial Public Offerings (IPOs) have already been offered in the first half of 2024 and 17 IPOs were offered in 2023. Goyal added that under the guidance of <keyword id="19899320" type="General" weightage="20" keywordseo="PM-Modi" source="keywords">PM Modi</keyword>, the country has seen windfall investments from foreign investors and there has been a massive push for infrastructure. He further stated that easing of regulations and compliance burden on startups along with enabling Ease of Doing Business (EoDB) have been the primary focus of PM Modi's government. The minister also added that infrastructure growth has a multiplier effect on the economy that leads to demand for goods and services and increases consumption in the country. He stated that PM's infra push has enabled growth of industry and generation of employment that has put the nation on a virtuous cycle of growth. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-july-2024/slidelist/111341281.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-july-2024/slidelist/111341281.cms" target="_blank">Upcoming cars launching in India in July 2024</a><a href="https://www.businessinsider.in/tech/news/hp-envy-x360-14-review/articleshow/111407165.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/hp-envy-x360-14-review/articleshow/111407165.cms" target="_blank">HP Envy x360 14 review – feature-packed laptop with a sleek design</a>

Production Linked Incentive scheme for drones to kickstart industry, not permanent subsidy: Piyush Goyal

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

The department for promotion of industry and internal trade (<keyword id="19952901" type="General" weightage="20" keywordseo="DPIIT" source="keywords" meta.keywordsubtype="org" meta.entityname="DPIIT" meta.hostid="261" meta.entityid="DPIIT">DPIIT</keyword>) on Monday asked <keyword id="19957196" type="General" weightage="20" keywordseo="white-goods" source="keywords">white goods</keyword> manufacturers to participate in large numbers to avail fiscal benefits under the <keyword id="19952889" type="General" weightage="20" keywordseo="production-linked-incentive" source="keywords">production linked incentive</keyword> scheme for the sector as the response has been muted so far. Additional Secretary in the DPIIT Rajeev Singh Thakur said that the department has again reopened the application window for the PLI (production linked incentive) scheme for white goods (<keyword id="20360726" type="General" weightage="20" keywordseo="ACs" source="keywords">ACs</keyword> and LED lights). The application window is open from July 15 to October 12. "In the PLI in white goods scheme, somehow the response has been muted. ...Probably due to various reasons not sufficient response has come. So I request (the industry) to have a look and probably this time, you can consider (applying)," Thakur said at the CII Consumer Electronics and Durables Summit 2024 here. So far, 66 applicants with committed investment of Rs 6,962 crore have been selected as beneficiaries under the PLI scheme. The Union Cabinet had given approval for the PLI scheme for white goods for <keyword id="19914449" type="General" weightage="20" keywordseo="manufacturing" source="keywords">manufacturing</keyword> of components and sub-assemblies of Air Conditioners (ACs) and LED lights on April 7, 2021. The scheme is to be implemented over a seven-year period, from 2021-22 to 2028-29, and has an outlay of Rs 6,238 crore. He added that the department can hold talks with the industry separately on issues like quality control orders and logistics. Thakur told the industry that the time is right to increase investments into the country as the government has enhanced its capex and taken steps to promote <keyword id="19996629" type="General" weightage="20" keywordseo="ease-of-doing-business" source="keywords">ease of doing business</keyword>. The public capex in the last 10 years is growing at a fast pace in areas like highways, expressway, ports, airports and railways, but the commensurate response of the private sector "somehow is not up to the expectation", he said. Earlier speaking at the event, DPIIT Secretary Amardeep Singh Bhatia said that a lot of steps have been taken to promote ease of doing business, cutting down compliance burden and decriminalisation of minor offences. The government has also recently approved 12 industrial townships and the industry can look at investing there. He added that capital availability is not an issue now and the government has also provided protection to the industry from predatory imports. Schemes like PLI and semiconductor mission have been rolled out to promote manufacturing and "now we want the industry" to ensure that they have necessary collaborations in place for technology and investments. The industry should do collaborations not only to target the domestic market but also become part of global value chains. "That is an expectation we are having from the entire industry and I think industry will rise to meet these expectations... We have a huge demographic dividend and the industry should take advantage of this otherwise we will miss it," Bhatia added. He also said that there is no paucity of adequate skilled labour in the country and logistics costs too are coming down. On logistics, he cited examples of Amazon and Flipkart selling goods in the remotest part of the country. "I don't think industry should look at the current domestic demand only for collaborations. They should look at the future and export market also in addition to the domestic market," he said, adding expenditure on research and development is "abysmally" low and that needs to be enhanced. 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Govt asks white goods industry to apply for manufacturing sops in large numbers

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

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

Adani's joint venture company with Israeli firm Elbit as well as IdeaForge Technology are among the 14 drone companies that have been selected as beneficiaries of the production-linked incentive (<keyword id="53367" type="General" weightage="60" keywordseo="pli" source="Orion">PLI</keyword>) scheme to boost <keyword id="12100363" type="General" weightage="20" keywordseo="drone-manufacturing" source="Orion">drone manufacturing</keyword> in India, the aviation ministry said on Wednesday. Under the <keyword id="8941225" type="General" weightage="100" keywordseo="pli-scheme" source="Orion">PLI scheme</keyword> that was announced last year, the incentive for a manufacturer of drones and drone components will be 20 per cent of the “value addition” made by the company during the next three years. The value addition is calculated as the annual sales revenue from drones and drone components (net of GST) minus the purchase cost (net of GST) of drone and drone components. On Wednesday, the ministry released the names of 14 drone companies selected as beneficiaries of the PLI scheme. Dhaksha Unmanned Systems, IdeaForge Technology, IoTechWorld Aviation, Omnipresent Robot Technologies and Raphe Mphibr are five drone manufacturers selected as beneficiaries, it mentioned. Absolute Composites, Adani-Elbit Advanced Systems India, Adroitec Information Systems, Alpha Design Technologies, Inventgrid India, Paras Aerospace, SASMOS HET Technologies, ZMotion Autonomous Systems and Zuppa Geo Navigation Technologies are nine drone component manufacturers selected for the PLI scheme, it noted. The Ministry of Civil Aviation had on March 10 invited applications from the drone industry for the PLI scheme. The ministry had on September 16, 2021, announced a PLI scheme for drones and drone components with an allocation of Rs 120 crore spread over three financial years. The ministry said on Wednesday: “The list of beneficiaries is likely to be expanded further since some more manufacturers are likely to exceed the eligibility criteria for the full financial year 2021-22." "The final list of PLI beneficiaries is expected to be released by June 30 after detailed scrutiny of their financial results and other specified documents," it mentioned. The ministry said the eligibility criteria for the PLI scheme includes an annual sales turnover of Rs 2 crore for drone companies and Rs 50 lakh for drone components manufacturers; and value addition of over 40 per cent of sales turnover. The PLI scheme came in September 2021 as a follow-through of the liberalised <keyword id="2730972" type="General" weightage="20" keywordseo="drone-rules" source="Orion">Drone Rules</keyword>, 2021, released by the ministry on August 25, 2021. Aviation Minister Jyotiraditya Scindia had on September 16, 2021 said that the Indian drone industry will have a total turnover of up to Rs 15,000 crore by 2026 as the government has given a major boost to the sector with the PLI scheme. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/five-banks-that-offer-cheaper-home-loan-rates-in-india/articleshow/90959872.cms">Five banks that offer cheaper home loan rates in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/article/indian-livelihoods-turn-less-green-sharp-decline-in-hiring-green-jobs-over-the-last-five-years-compared-to-the-global-average/articleshow/90971775.cms">Indian livelihoods turn less green! Sharp decline in hiring green jobs over the last five years compared to the global average</a>

Adani JV and IdeaForge among 14 firms shortlisted as beneficiaries for drone PLI scheme

As <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s <keyword id="19916774" type="General" weightage="100" keywordseo="exports" source="keywords">exports</keyword> in the first quarter of 2024-25 (April-June) crossed the $200 billion mark, the government has expressed its optimism about reaching its full-year target of $800 billion. "We are quite optimistic and it gives us optimism that we'd be crossing our <keyword id="19944038" type="General" weightage="20" keywordseo="USD" source="keywords">USD</keyword> 800 billion of trade this year," Commerce Secretary Sunil Barthwal said on Monday while releasing India's trade data for June. India's overall exports, merchandise and services combined in the month of June were to the tune of $65.47 billion, a 5.4% rise on a yearly basis, commerce ministry data showed. Same month last year it was at $62.12 billion. In break up, <keyword id="22419320" type="General" weightage="20" keywordseo="exports-of-merchandise-goods" source="Orion">exports of merchandise goods</keyword> rose from $34.32 billion to $35.20 billion, and exports of services rose from $27.79 to $30.27 billion. In May, merchandise and services exports combined were to the tune of $68.29 billion, a 10.2% rise on a yearly basis. The country's <keyword id="19933566" type="General" weightage="20" keywordseo="imports" source="keywords">imports</keyword> too increased year-on-year in June, data showed today. The same was the case in May. The overall imports, both merchandise and services combined, increased from $69.12 billion to $73.47 billion, a rise of about 6.3%, in June. In the recently concluded financial year 2023-24, India registered record exports at $778 billion. In 2022-23, the country exported goods and services combined at $776.3 billion. In break up, services exports rose from $325.3 billion to $341.1 billion in 2023-24. Merchandise exports though marginally declined from $451.1 billion to $437.1 billion. Among various steps the government took was to launch a <keyword id="8870884" type="General" weightage="20" keywordseo="Production-Linked-Incentive" source="Orion">Production Linked Incentive</keyword> (PLI) scheme in varied sectors, including electronic goods, to make Indian manufacturers globally competitive, attract investments, enhance exports, integrate India into the global supply chain and reduce dependency on imports. These seemed to have reaped dividends. China, Russia, Iraq, <keyword id="19908927" type="General" weightage="20" keywordseo="uae" source="keywords">UAE</keyword>, and Singapore were among the countries where India's exports in the just-concluded financial year have risen substantially, though with a low base. The other countries in the Top 10 list are the UK, Australia, Saudi Arabia, the Netherlands, and <keyword id="19899437" type="General" weightage="20" keywordseo="south-africa" source="keywords">South Africa</keyword>. Overall imports declined from $898.0 billion in 2022-23 to $853.8 billion. Both merchandise and services exports declined during the financial year. Overall trade deficit significantly improved from $121.6 billion in 2022-23 to $75.6 billion in 2023-24.

India's Apr-Jun quarter exports cross $200 bln, government optimistic of reaching  $800 bln annual target

<ul><li>Shares of textile companies gained as investors cheered the government’s approval for the <keyword id="8940266" type="General" weightage="20" keywordseo="production-linked-incentive-scheme" source="Orion">production linked incentive scheme</keyword> (<keyword id="53367" type="General" weightage="20" keywordseo="pli" source="Orion">PLI</keyword>) for textile.</li><li>The scheme is reportedly expected to provide employment to 7.5 lakh people.</li><li>Analysts believe some quality textile stocks will continue to rise for a few more trading sessions.</li></ul>A few textile company stocks gained on Wednesday as investors cheered the government’s approval for the production linked incentive scheme (PLI) for the textile industry in India. Under the scheme, incentives worth ₹10,683 crore will be provided over five years to the sector. The move is positive for the sector and the economy as it will help bolster domestic manufacturing, boost employment and scape up exports. The scheme is reportedly expected to provide employment to <a href="https://www.ndtv.com/business/incentives-worth-over-rs-10-000-crore-approved-for-textiles-sector-payout-to-be-spread-over-5-years-2533900">7.5 lakh people</a>. PLI scheme typically provides incentives to companies for enhancing their domestic manufacturing apart from focusing on reducing import bills and improving the cost competitiveness of local goods. The news led to a rise in shares of the textile companies like <keyword id="70578" type="General" weightage="20" keywordseo="alok-industries" source="Orion">Alok Industries</keyword>, <keyword id="6362630" type="General" weightage="20" keywordseo="arvind" source="Orion">Arvind</keyword>, <keyword id="3438494" type="General" weightage="20" keywordseo="deepak-spinners" source="Orion">Deepak Spinners</keyword> and others. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Textile companies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Share gain </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Alok Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.87% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Arvind </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.26% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Deepak Spinners </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Trident </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4.87% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nitin Spinners </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4.27% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Siyaram Silk Mills </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.46% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Grasim Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.64% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Gokaldas Exports </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.58% </td></tr></tbody></table> Analysts believe some quality textile stocks will continue to rise for a few more trading sessions. Saurabh Jain of SMC Global Securities <a href="https://www.livemint.com/market/stock-market-news/textile-stocks-experts-recommend-these-shares-after-pli-scheme-approval-11631092694705.html">reportedly </a>said, “As the cabinet approval for PLI scheme to the <keyword id="45095" type="General" weightage="20" keywordseo="textile-sector" source="Orion">textile sector</keyword> has been announced, some quality textile stocks are expected to extend this rally in upcoming trade sessions as well.” The Indian textiles and apparel industry is one of the largest in the world and is also a key contributor to India’s export, as it contributes 12% to export earnings and 2% to the GDP, according to Indian Brand Equity Foundation, a government’s export promotion agency. Meanwhile, some of the textile company stocks have been rising in the last five trading sessions in anticipation of the PLI scheme and hence did not react today. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Textiles companies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% returns in 5 days </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">KPR Mills </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">10.52% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Welspun India </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.57% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Vardhman Textiles </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.98% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Indo Count Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">13.42% </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sbi-life-icici-prudential-life-among-analysts-top-picks/articleshow/86035243.cms">More consolidation may happen in insurance sector going ahead; SBI Life, ICICI Prudential Life among analysts top picks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/stock-market-experts-like-raamdeo-agrawal-of-motilal-oswal-group-and-biju-samuel-of-elara-capital-say-that-the-benchmark-index-will-continue-to-rise/slidelist/86030450.cms">Some of India’s biggest investors are nervous but not everyone wants to leave the party</a>

Alok Industries, Arvind, Deepak Spinners, Trident gain on PLI for textiles sector, analysts expect the rally to continue

Domestic firms will <keyword id="6356112" type="General" weightage="100" keywordseo="lease" source="Orion">lease</keyword> an estimated 60-65 million square feet of <keyword id="181150" type="General" weightage="20" keywordseo="office-space" source="Orion">office space</keyword> between 2024 and 2025, according to <keyword id="20060150" type="General" weightage="20" keywordseo="cbre" source="keywords">CBRE</keyword> South Asia's report, '<keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> Inc's Ascension - The Rise of Domestic Firms as an Office Demand Driver'. Domestic companies have been responsible for nearly 47 per cent of office leasing activity from 2022 to H1 2024, marking a departure from the traditional dominance of global corporations, particularly American firms. During 2022-2023, domestic firms experienced a 60 per cent surge in office space absorption compared to the pre-pandemic period of 2018-2019. Key occupier groups have secured significant spaces in prime locations across major cities, with <keyword id="19913115" type="General" weightage="20" keywordseo="delhi-ncr" source="keywords">Delhi-NCR</keyword> leading, followed by <keyword id="6354321" type="General" weightage="20" keywordseo="bengaluru" source="Orion">Bengaluru</keyword> and Mumbai. E-commerce and life sciences companies have driven occupancy in Bengaluru and Hyderabad, respectively, while Mumbai has captured a substantial 43 per cent share of domestic <keyword id="19910880" type="General" weightage="20" keywordseo="bfsi" source="keywords">BFSI</keyword> leasing, with strong contributions from Delhi-NCR and Chennai. The report attributes the robust growth of India's office market to several factors, including government initiatives like Make in India and the <keyword id="19952889" type="General" weightage="20" keywordseo="production-linked-incentive" source="keywords">Production Linked Incentive</keyword> (PLI) Scheme. These programs, along with increased domestic manufacturing, employment generation, and a well-capitalized banking sector, have created a supportive environment for business expansion. Other contributing factors include low corporate leverage ratios and improved access to capital, which have enhanced the investment capacity of Indian companies. India's talent pool, with approximately 2.5 million STEM graduates and a thriving start-up ecosystem featuring over 100 unicorns, has also been a major driver of growth. With over 38 sector skill councils, the government's focus on bridging the skill gap is preparing domestic firms for future demands, further bolstering the office leasing sector. Flexible space operators, technology, and BFSI sectors have emerged as the primary drivers of office leasing, collectively accounting for two-thirds of all domestic activity. The RCA sector, which includes legal, taxation, HR, and media services, is also playing a significant role in boosting domestic leasing. Additionally, Indian engineering and manufacturing firms, which currently represent 7-8 per cent of domestic office leasing, are expected to expand into <keyword id="20270212" type="General" weightage="20" keywordseo="tier-ii" source="keywords">Tier-II</keyword> and Tier-III cities, which are emerging as manufacturing hubs. Anshuman Magazine, Chairman and CEO, India, Southeast Asia, Middle East &amp; Africa, CBRE, said, "India's rapidly expanding start-up ecosystem and talent abundance are major drivers of this demand. As India's major urban centers continue to grow and diversify, the demand for premium office spaces will shape the future of the commercial real estate market, setting new standards for innovation and excellence. He added, "India's top nine cities are poised to see an impressive addition of ~185 million sq. ft. of premium office space by 2026. This dramatic increase in office space is a testament to several key factors driving the transformation of the commercial real estate landscape". Ram Chandnani, Managing Director, Advisory and Transaction Services, CBRE India, said, "Advances in technology, especially artificial intelligence (AI), are poised to further transform the office sector. While AI may cause job displacement in some areas, it will also create new opportunities and necessitate comprehensive workforce reskilling. The surge in workforce needs, driven by digitalization, evolving workplace strategies, and enhanced business confidence, has substantially boosted leasing activity."

You Searched For "production linked incentive" and got 12 results

Cabinet approves production-linked incentives for electronics mfg firms

PTI

Moody's cuts India's growth projection for 2022 to 7% on global slowdown, rising rates

PTI

Leasing of industrial, logistics space highest in NCR in 2022 across top 8 cities: CBRE

PTI

Union Cabinet approves PLI scheme worth ₹10,683 crore for textiles

IANS

Production Linked Incentive scheme for drones to kickstart industry, not permanent subsidy: Piyush Goyal

ANI

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

ANI

Govt asks white goods industry to apply for manufacturing sops in large numbers

PTI

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