VOL XXV, ISSUE 03

15 February 2024

II. The government has earmarked Rs 15,500 crore for diverse electronics manufacturing initiatives in the fiscal year 2025, encompassing the semiconductor mission and the Production-Linked Incentive (PLI) scheme for mobile and IT hardware.

 

III. Incentives totaling Rs 4,203 crore have been proposed for the establishment of assembly, test, and packaging plants. The comprehensive allocation for various semiconductor projects reaches Rs 6,903 crore, covering endeavors like setting up compound semiconductor and sensor plants.

 

IV. The allocation for specific projects includes Rs 1,500 crore for the semiconductor fab or electronic chip plant in India, Rs 900 crore for the Mohali-based semiconductor laboratory, and Rs 200 crore for the design-linked incentive scheme.

 

V. A significant augmentation has been proposed for the mobile Production-Linked Incentive (PLI) scheme, with an allocation of Rs 6,125 crore in the fiscal year 2024-25, up from Rs 4,489 crore in the previous year.

 

VI. The allocation for the IT hardware PLI scheme is set at Rs 75 crore, despite promises of incentives totaling around Rs 17,000 crore over a 5-year period.

 

VII. The government has proposed an allocation of Rs 750 crore for longstanding electronics hardware manufacturing schemes, such as the modified special incentive package and electronics cluster.

The substantial allotment of Rs 15,000 crore for various manufacturing schemes is poised to inject significant momentum into the industry. The increase in the allocation for the Modified Programme for Development of Semiconductors and display manufacturing ecosystem, now at Rs 6,903 crore, is expected to propel the semiconductor and telecom industry forward, providing a substantial boost to ESDM Sector.

2. CUSTOMS Notification No 09 of 2024 dated 30th January, 2024

CUSTOMS Notification No. 09 of 2024, dated 30th January 2024, introduces significant amendments to the Basic Customs Duty (BCD) rates for specific parts/sub-parts of cellular mobile phones as outlined in Notification No. 57/2017-Customs dated 30th June 2017.

The key changes aimed at benefiting the electronics manufacturing services in the mobile domain are as follows:

• Against S. No. 1, in column (4), the BCD rate is amended, and the entry "10%" shall now be applicable.

• A new provision is added after S. No. 1: "1A Any Chapter Inputs or parts for use in the manufacture of goods mentioned at S. No. 1 above Nil 1". This implies that certain inputs or parts used in the production of goods specified at S. No. 1 will have a Nil BCD rate, providing a potential cost advantage for manufacturers.

• Following S. No. 6C and its related entries, a new entry is inserted: "6D 39, 73 The following goods for use in the manufacture of cellular mobile phones: (i) Battery cover (ii) Front cover (iii) Middle cover (iv) Main lens (v) Back cover (vi) GSM Antenna/Antenna of any technology (vii) PU case/Sealing Gasket – Other articles of Polyurethane foam like sealing gaskets/case (viii) Sealing Gaskets/ Cases from PE, PP, EPS, PC and all other individual polymers or combination/combinations of polymers (ix) SIM socket (x) Screw (xi) Other mechanical items of plastic (xii) Other mechanical items of metal 10% 1". This modification specifies the BCD rate for various goods used in the manufacturing of cellular mobile phones, providing clarity to manufacturers and potentially facilitating cost-effectiveness.

These amendments are expected to positively impact the electronics manufacturing services in the mobile domain by potentially reducing costs associated with customs duties on specific components and facilitating a more favorable environment for mobile phone production.

3. DGFT Notification: No. 60/2023-DGFT dated 13/02/2024

Notification No. 60/2023-DGFT, issued by the Directorate General of Foreign Trade (DGFT) on February 13, 2024, holds significance in regulating India's foreign trade, specifically focusing on the 'Indian Trade Classification (Harmonised System) of Export Items, 2023' under Chapter 01-39 of Schedule 2. This is as per Para 1.02 and 2.01 of the Foreign Trade Policy, 2023. The key points are:

Scope:

• Pertains to Chapter 01-39 of Schedule 2, specifying the export policy for certain items.

• Outlines the export policy and associated conditions.

Accessibility:

• Detailed export policy available on the DGFT Website (dgft.gov.in).

https://content.dgft.gov.in/Website/FinalU%20DGFT%20Notification%20No.%2060-2023-English.pdf

• Interested parties can find information under the section labeled 'ITC (HS) based Export Policy (Chapter 01-39)'.

The notification emphasizes the need for industry stakeholders, exporters, and policymakers to thoroughly review and ensure compliance with the outlined export policy. Electronics industry may specially refer to Chapters 28 and 29 (Chemicals) and Chapter 39 (Plastics) among others such as metals and ores which may be of relevance as inputs. Please refer to the DGFT website and the link provided above to review the full notification.

4. UTTAR PRADESH SEMICONDUCTOR POLICY-2024 dated 12/02/2024

On February 12, 2024, the State Government of Uttar Pradesh unveiled the Semiconductor Policy-2024, with a primary objective of drawing investments into the semiconductor sector.

Here are the key highlights of the policy

• Fund Allocation:

The state is set to establish a substantial fund amounting to ₹80,000 crore. This fund will be dedicated to providing subsidies to companies investing in the semiconductor sector.

• Forward-Looking Stance:

Govt. of UP has emphasized the strategic significance of semiconductors, recognizing their pivotal role in powering electronic devices. The enactment of the dedicated Semiconductor Policy has garnered significant attention, leading to the generation of multiple investment proposals.

• Investment Opportunities:

The policy aims to open up new avenues for investment, with a focus on fostering opportunities for job creation and contributing to overall economic advancement. It is anticipated that the policy will catalyze growth in the semiconductor industry within the state.

The introduction of the Semiconductor Policy-2024 in Uttar Pradesh reflects a proactive approach to attract investments, acknowledging the crucial role of semiconductors in the contemporary technological landscape. Beyond the substantial fund allocation, the policy aims to create a conducive environment for economic growth and job creation within the semiconductor sector, signaling a commitment to fostering innovation and development in the state.

Download the policy:https://invest.up.gov.in/wp-content/uploads/2024/02/Notification_120224.pdf

5. DGFT Public Notice No. 40/2023 dated February 12, 2024; Amendment to Advance Authorization Scheme Clubbing Provisions for Ease of Doing Business

The Directorate General of Foreign Trade (DGFT), through Public Notice No. 40/2023 dated February 12, 2024, has modified Para 4.36 of the Handbook of Procedures 2023. The revision permits the consolidation of authorizations granted within a 24-month period, thereby simplifying the conditions associated with the Advance Authorization Scheme. Under this amendment, only imports conducted within 30 months and exports within 48 months from the earliest authorization will be eligible for clubbing. The primary objective of this change is to enhance the ease of doing business.

Amended para 4.36 :

“(vi) Only such authorisations shall be clubbed which have been issued within 24 months from the date of issue of earliest authorisation that is sought to be clubbed, whether such authorisations are valid or not. This is further subject to condition that upon clubbing only imports made within 30 months from the date of issue of earliest authorisation shall be considered. Any imports made beyond 30 months of earliest authorisation shall be regularized under Para 4.49 of the HBP. This is further subject to condition that upon clubbing only exports made within 48 months from the date of issue of earliest authorisation shall be considered. Any exports made beyond 48 months of earliest authorisation shall not be acceptable for clubbing.”

The recent amendment to Para 4.36 of the Handbook of Procedures 2023 aims to streamline the clubbing provisions under the Advance Authorization Scheme, with the primary goal of enhancing the ease of doing business.

TOP

         INDUSTRY  SCAN                                                                             

General

 Israeli chipmaker Tower closes in on $8 billion fabrication plant in India

Israel-based chip manufacturing company Tower Semiconductor has submitted its proposal to set up a chip fabrication plant in India worth around $8 billion, The Indian Express has learnt. The government is assessing its pitch and is hoping to clear it before the model code of conduct kicks in ahead of this year’s general elections. If Tower’s proposal is accepted by the government, it would be the first semiconductor company with real fabrication pedigree to join India’s $10 billion chip manufacturing scheme, and will be a big boost to New Delhi’s chipmaking ambitions. The scheme promises a 50 per cent capital expenditure subsidy to successful applicants – meaning that if Tower’s plant costs $8 billion, the Centre will shell out $4 billion from its kitty.

Source: https://indianexpress.com/, February 12, 2024

CG Power inks semiconductor testing facility deal with Japanese, Thai companies

CG Power and Industrial Solutions Ltd informed exchanges that it is in pact with Renesas Electronics America Inc and Stars Microelectronics (Thailand) Public Co for setting up an Outsourced Semiconductor Assembly and Testing (OSAT) facility in India. CG has inked technology and services, offtake and manufacturing agreements with Renesas Electronics Corporation, Japan, and a technology know-how sharing and technical support agreement with Stars, it said. The joint venture is subject to necessary regulatory and statutory approvals, including approval of the Ministry of Electronics and Information Technology (MeitY), and subsidy from central and state governments, as applicable, it said.

Source: https://www.moneycontrol.com/,  FEBRUARY 09, 2024

Applied Materials expands collaboration with Indian semiconductor firms

US -based chip equipment supplier Applied Materials will collaborate with semiconductor supplier organisations to reduce the time to commercialisation in India, said a senior executive. Applied Materials will collaborate with semiconductor supplier organisations with the intent to reduce the time to commercialisation and develop a sustainable semiconductor ecosystem in India,” Suraj Rengarajan, managing director, Applied Materials India, told ET. The company last year announced that it will set up an engineering centre in Bengaluru with a total investment of $400 million (about Rs 3,278 crores) over four years to develop and commercialise technologies for semiconductor manufacturing equipment.

Source: https://economictimes.indiatimes.com/, By Suraksha P, February 13, 2024

TOP

Information Technology

Information Technology stocks edge higher

Information Technology stocks were trading in green, with the S&P BSE IT Sector index increasing 263.48 points or 0.69% at 38720.31 at 09:47 IST. Among the components of the S&P BSE IT Sector index, Mastek Ltd (up 2.42%), Wipro Ltd (up 2.21%),Cigniti Technologies Ltd (up 1.55%),HCL Technologies Ltd (up 1.37%),Mphasis Ltd (up 1.32%), were the top gainers. Among the other gainers were Coforge Ltd (up 1.32%), L&T Technology Services Ltd (up 1.27%), 3i Infotech Ltd (up 1.23%), Cressanda Railway Solutions Ltd (up 1.23%), and Infosys Ltd (up 0.99%). The Nifty 50 index was down 37.85 points or 0.17% at 21744.65. The S&P BSE Small-Cap index was down 341.38 points or 0.75% at 45308.92.

Source, https://www.business-standard.com/, Feb 12 2024

70% women in technology say diversity measures are for marketing

About 70 percent of women in technology think that the diversity equity and inclusion (DEI) measures undertaken by the IT industry are marketing measures, a survey conducted by Talent500 of ANSR has found. Around 90 percent of the 3,000 women, all from the information technology (IT) sector, who participated in the survey said organisations were not making any concrete efforts and initiatives to fulfil the demands of gender diversity. It stemmed from deep-rooted biases and challenges that women face right from hiring to retention, inclusion to appreciation and growth. Around 45 percent of the respondents said the problem was the direct result of non-diverse hiring panels. As many as 60 percent of the respondents, with 5-10 years of experience, agreed and said companies should be held accountable for equitable hiring practices.

Source: https://www.moneycontrol.com/, February 13, 2024

Drizly Calls It Quits In A Week Of Continued Layoffs In E-Commerce, Health Care And Even AI

Startups reporting layoffs this week were pretty evenly split between the West Coast and East Coast tech hubs. Reporting the highest number of layoffs is San Francisco-based DocuSign, which announced a restructuring plan earlier this week that includes a staff reduction. For the most part affecting the startup’s sales and marketing divisions, the company estimates a cut of 440, or 6% of its total workforce. Big Tech makes another appearance on the tracker this week with Seattle-based Amazon’s announcement that it is laying off staff in both its Amazon Pharmacy and One Medical units in its continuing effort to cut costs.

Source: https://news.crunchbase.com/, February 09, 2024

Pune : Army Institute of Technology will mark its 30th Foundation Day on 19 Feb

The Army Institute of Technology is all set to celebrate its 30th Foundation Day on 19th February 2024. On the auspicious day, AIT will be awarding the Lifetime Achievement award to Padma Vibhushan Dr. Anil Kakodkar, former Chairman of the Atomic Energy Commission of India. The Young Entrepreneur Award will be presented to Mr Ankush Tiwari, an alumnus of the AIT 2002 batch. The ceremony will also witness awards to the Best All-around passing out student, Best Girl student of each branch, Best sportsperson, Best Teacher, Best Innovation, etc. A small demonstration of student projects has also been organized.

Source: https://www.mypunepulse.com/, February 13, 2024

Google warns all Android and iPhone users of privacy threats. Details here

Google has issued a warning for all Android and iPhone users as the tech trends move towards greater integration of artificial intelligence (AI) with smartphones. Artificial intelligence, after catching hold of popular perception after the 2022 release of the blockbuster generative AI tool ChatGPT, has moved beyond being just a thing with a 'wow factor' and tech giants have already taken steps to integrate AI tools and apps in existing ecosystems. Microsoft has already unrolled Copilot for existing Windows users. Smartphone users by now are fairly adept at taking steps to guard their privacy and data in the digital world by keeping close tabs on which apps they download, which permissions they grant and so on.

Source: https://www.wionews.com/, February 13, 2024

 TOP

Consumer Electronics

Indian consumer electronics break boundaries, export surge to the US and Europe

Indian consumer electronic manufacturers have opened up new frontiers for exports of made-in-India products to the developed markets such as the US and Europe, which were hitherto only limited to the neighbouring countries, the Middle-East or African nations. Companies like Havells, Dixon, Voltas and Blue Star have said in their December quarter earnings call that they are forming a base for exports in the developed nations like the US. Havells India chairman and managing director Anil Rai Gupta said last quarter, the company has formed a subsidiary in the US with plans to distribute air-conditioners in the US market.

Source: https://economictimes.indiatimes.com/, February 12, 2024

Xiaomi: India's Scrutiny of Chinese Firms Unnerves Suppliers

China's Xiaomi has told New Delhi that smartphone component suppliers are wary about setting up operations in India amid heavy scrutiny of Chinese companies by the government, according to a letter and a source with direct knowledge of the matter. Xiaomi Corp., which has the biggest share in India's smartphone market at 18%, also asks in the letter dated Feb. 6 that India consider offering manufacturing incentives and lowering import tariffs for certain smartphone components. The Chinese company assembles smartphones in India with mostly local components and the rest imported from China and elsewhere. The letter is Xiaomi's response to a query from India's information technology ministry asking how New Delhi can further develop the country's component manufacturing sector.

Source: https://www.voanews.com/, February 11, 2024

Share price of Crompton Greaves falls as Sensex drops 353.07 points

Share price of Crompton Greaves Consumer Electricals Ltd. dropped 0.83 per cent to Rs 284.15 at 12:33PM (IST) in Monday's trade. The counter hit a high of Rs 288.6 and low of Rs 283.15 so far during the session. The stock had closed at Rs 286.55 in the previous session. The counter had a total traded volume of 12:33PM shares so far with a turnover of Rs 5.21 crore on BSE. The stock traded at a price-to-earnings multiple of 42.12 and a price-to-book ratio of 7.01. A higher P/E ratio shows investors are willing to pay a higher price for per rupee earnings given by the stock because of better future growth expectations.

Source: https://economictimes.indiatimes.com/, February 12, 2024

Norway-based reMarkable launches paper tablet in India; garners consumer interest

Paper tablet brand reMarkable is vying for a promising debut in the India market with 100,000 customers already showing interest in the device on the first day of its launch. On the launch day of the 15th of January 2024, almost 100,000 people from India visited reMarkable.com. This was more than the number of Americans that visited our web page from the US on Black Friday. The US is the largest market for reMarkable. Based in Oslo, Norway, the brand created a niche product, an electronic paper tablet, which allows users to scribble and take handwritten notes, read and review documents. The device is powered by a proprietary operating system which does not offer internet browsing, emailing, messaging or any other features of a regular tablet or smartphone.

Source: https://economictimes.indiatimes.com/, February 09, 2024

Has the worst of news been priced in? 5 stocks from consumer electrical sector with upside potential of up to 45%

Last week, two large consumer electrical companies announced their Q3 results. The net margins probably were at their worst but the reaction of the street was not to punish them, but either they witnessed small up move. Given the ultra bullishness which is there on the street, the up move cannot be given that much importance, however there was no fresh wave of selling which is more significant. Now this dis-interest of the street is an indication that from being overhyped and overowned, stocks are now in a state where if there is a positive development, probability of positive reaction of the street becomes high. The question is whether that positive development will come or not?

Source: https://economictimes.indiatimes.com/, February 05, 2024

TOP

Telecom

Telecom licence fee collection up 8.23% at Rs 5,326 cr in quarter ended Sep

The government's licence fee collection from telecom service providers increased 8.23 per cent year-on-year to Rs 5,326 crore, while spectrum usage charge mop up declined about 40 per cent to Rs 836 crore in the September 2023 quarter, according to the latest Trai report. According to the performance indicator report released by regulator Telecom Regulatory Authority of India (Trai), operators' gross revenue (GR) declined by 1.22 per cent to Rs 82,741 crore, but adjusted gross revenue (AGR) increased by 7.43 per cent year-on-year (YoY) to Rs 66,583 crore during the reported quarter. On a YoY basis, GR decreased by 1.22 per cent, ApGR (applicable gross revenue) increased by 6.74 per cent, and AGR increased by 7.43 per cent in the quarter ended September 2023.

Source: https://www.business-standard.com/, february 11, 2024

BSNL and SITAM Sign MoU to Train Students about 4G/5G

Bharat Sanchar Nigam Limited (BSNL) and Satya Insitute of Technology and Management (SITAM) have signed a Memorandum of Understanding (MoU) for training students on 4G and 5G. According to the report titled 'Telecom Talent in 5G Era: Demand Supply Skill Gap Report 2023-24', India would require 22 million skilled workers in the 5G focused industry. Thus, this move from BSNL and SITAM would be beneficial towards the future of telecom sector in India as it would result in training of more people for the 4G and 5G technologies. The agreement was signed by BSNL Visakhapatnam DGM, Malla Satya Prasad and D.V. Rama Murthy, SITAM principal, said a report from TheHindu.

Source: https://telecomtalk.info/, FEBRUARY 11TH, 2024

DoT Collected Rs 5326 Crore in License Fee from Telcos in QE Sep 2023

The Indian telecom sector's gross revenue (GR) for QE September 2023 was Rs 82,741 crore. The applicable gross revenue (ApGR) and adjusted gross revenue (AGR) were Rs 79,747 crore and Rs 66,583 crore, respectively. The data has been shared by TRAI (Telecom Regulatory Authority of India) in its latest quarterly performance report. According to the report, the GR increased by 2.28%, ApGR increased by 1.78% and AGR increased by 1.46% in QE September 2023 compared to the previous quarter. TRAI said that the YoY growth rate in GR, ApGR, and AGR in QE September 2023 over the same quarter last year has been 1.22%, 6.74%, and 7.43%.

Source: https://telecomtalk.info/, February 12, 2024

Vodafone seeks subsidy to spur migration to smartphones

Vodafone Idea has asked for the government to create a subsidy scheme to encourage migration of feature phones to smartphones through the respective operators, and disregard demands for shutting down 2G networks that serve poor consumers. The subsidy can be funded through the Universal Services Obligation Fund or the Digital Bharat Nidhi, Vodafone Idea said in its submission to the Telecom Regulatory Authority of India (Trai) that is holding consultations on digital transformation through the 5G ecosystem. The country’s third-largest telecom company is yet to begin 5G services, and has 89 million customers on its 2G network, out of its total subscriber base of 215 million as of December 2023.

Source: By Gulveen Aulakh, https://www.livemint.com/, February 07, 2024

Centre targets 30% higher revenue from telcos in FY25

The Centre aims to collect a revenue of ₹1.2 trillion from the telecom sector in FY25, it said in the interim budget on Thursday. This is about 30% higher than its revised revenue target of ₹93,541 crore from the sector for FY24. The markup in question is likely to be fuelled by an upcoming spectrum auction, as well as increased adjusted gross revenue (AGR) payouts from telcos in FY25. The current fiscal marked a steep rise in revenue from the sector, which includes revenue from AGR dues, spectrum licensing, etc. Against a revenue of ₹64,835 crore in FY23, the government’s projected inflow for FY24 is 44% higher year-on-year (y-o-y).

Source: By Shouvik Das, https://www.livemint.com/, February 01, 2024

 TOP

EV’s & Auto Electronics

EV firm VinFast to make India debut, will set up facility in Tamil Nadu: Report

VinFast, a Vietnamese electric vehicle (EV) manufacturer backed by the country's largest conglomerate, is making its entry into the Indian market. With plans to invest $2 billion in establishing an EV facility in Tamil Nadu, VinFast is positioning itself as a formidable competitor to Tesla and other established automakers, The Economic Times reported. The company's strategy includes building a nationwide dealership network, aiming to offer affordable alternatives to Tesla's premium models and capitalizing on India's burgeoning demand for EVs. Despite the challenges faced by the Indian EV industry, such as high costs, expensive batteries, inadequate charging infrastructure, and range anxiety, VinFast could leverage its status as one of the first EV-only companies to operate in the country.

Source: https://www.businesstoday.in/, February 10, 2024

FAME II Update: Electric Vehicles to Become More Affordable in India – Here’s How!

The Indian government, in its latest stride towards fostering sustainable transportation, has announced a dual thrust to electrify its roads: an enhanced budget for the FAME India Phase II scheme and a pivotal amendment to the incentive structure for electric vehicles (EVs). Originally earmarked at ₹10,000 crore, the FAME (Faster Adoption and Manufacture of Electric Vehicles) India scheme’s Phase II budget has been bumped up by ₹1,500 crore to a robust ₹11,500 crore. This financial bolstering is set to cover a broader spectrum of electric mobility incentives and infrastructure developments, including subsidies for demand incentives and grants for the creation of capital assets.

Source: https://www.news9live.com/, February 10, 2024

JSW Group to set up EV manufacturing industrial complex in Odisha with investment of ₹40,000 crore

JSW Group has signed a Memorandum of Understanding (MoU) with the Government of Odisha to set up an Integrated Electric Vehicles (EV) and EV Battery Manufacturing Project at Cuttack and Paradip in Odisha with an investment of ₹40,000 crore. The mega project, the first of its kind in the eastern state, is expected to create 11,000 jobs. The project consists of a 50 GWH EV battery plant, EVs, Lithium refinery, Copper smelter and related component manufacturing units. The project consists of a 50 GWH EV battery plant, EVs, Lithium refinery, Copper smelter and related component manufacturing units.

Source: https://www.thehindu.com/, February 10, 2024

Tata Motors cuts EV prices between 1%-8%, first by an Indian carmaker

Indian automaker Tata Motors's electric vehicle (EV) unit on Tuesday said it has reduced prices of its cars by up to 120,000 rupees (~US$1,450), in what is the first instance of a price cut by an electric carmaker in the country. Electric variants currently form just 2% of car sales in India, as buyers are wary about the higher upfront costs despite lower running costs and as range anxiety persists. The price of the top-selling Nexon.ev is now down 1.4% to 1.45 million rupees. Prices previously began at 1.47 million rupees, according to Tata's website.

Source: By https://theedgemalaysia.com/, February 13, 2024

Ola Electric Contemplating Lithium Mining Rights to Fuel India’s EV Revolution

E-scooter manufacturer Ola Electric is contemplating a bid for lithium mining rights currently auctioned by the government. The move aligns with the Centre’s initiative to bolster EV battery manufacturing by auctioning critical minerals. Last year, the Mines and Minerals (Development and Regulation) Amendment Bill was passed, enabling private entities to mine essential minerals like lithium. This legislative shift aims to foster economic development and national security. The auction of lithium blocks gains prominence in India’s ambitious plan to elevate electric vehicle (EV) market share from 2% to 30% by 2030. With a commitment to energy transition and achieving net-zero emissions by 2070, critical minerals play a pivotal role.

Source: https://e-vehicleinfo.com/, February 12, 2024

TOP

Defence & Solar

Bharat antariksh station (bas) isro's technologically complex & ambitious plan

 ISRO is venturing to build BAS using its present capabilities itself. The preliminary BAS model is scheduled for establishment by 2028, with developmental tests starting in 2025. The final, larger version aims for completion by 2035. First unit will be of 8 tons of mass and will be placed in a Low Earth Orbit. First unit of BAS will not be ready for carrying human beings into space. On the other hand the first module will be a robotic space station. Drawing inspiration from the International Space Station, the BAS will be assembled incrementally above Earth's surface due to the impracticality of launching a fully-built station from Earth. ISRO will send space capsules which can be docked on BAS and can transfer experiments using robotic arms. Then it can return the experiments completed into the crew module and send it back to Earth.

Source: https://www.indiandefensenews.in/, FEBRUARY 13, 2024

Biden administration moves forward on India drone sale

The U.S. State Department on Thursday approved a nearly $4 billion drone sale to India, a deal that emerged during Prime Minister Narendra Modi’s visit to Washington last year. Congress has received the notification for India’s pending purchase of 31 MQ-9B SkyGuardian aircraft made by General Atomics Aeronautical Systems. The notification triggers a 30-day congressional review period on Capitol Hill. The Biden administration has sought to court India as part of its efforts to counter China in the Indo-Pacific region while prying it away from Russia, New Delhi’s leading arms supplier. India also seeks to develop its own indigenous defense-industrial base. A December Congressional Research Service report noted that India is the world’s largest arms importer by value.

Source:By Bryant Harris, https://www.defensenews.com/, February 01, 2024

Eyeing IAF order for transport planes, Embraer and Mahindra join hands

Brazilian defence firm Embraer Defense and Security and the Mahindra group on Friday announced they have signed a memorandum of understanding (MoU) to collaborate on the C-390 Millennium aircraft in response to the Indian Air Force’s requirement for new medium transport aircraft (MTA). The IAF’s potential order for 40 to 80 MTA is expected to involve technology transfer and setting up a manufacturing line in the country for a higher level of indigenisation. Apart from Brazilian Embraer Defense and Security’s C-390 Millennium, US aerospace firm Lockheed Martin’s C-130J and European Airbus Defence and Space’s A-400M aircraft will vie for the Indian order, as previously reported by HT.

Source: https://www.hindustantimes.com/, February 09, 2024

Need to maintain rules-based Indo Pacific; India-US defence ties come to the fore at Defense News Conclave in Chennai

Former chairman of the Defence Research and Space Organisation (DRDO) S. Christopher on Tuesday, February 5, 2024, emphasised the need for people to connect between India and the United States, to strengthen strategic relationships between the two countries. The need to maintain a rules-based order in the Indo Pacific and the emphasis on India-U.S. defence cooperation came to the fore during a Defense News Conclave organised by the U.S. Consulate General Kolkata, the U.S. Department of State and CUTS International, in Chennai.

Source: https://www.thehindu.com/, February 06, 2024

Tejas mk-1a variant by march, mk-2 by 2027: report

The first version of the Light Combat Aircraft (LCA) TEJAS MK-2 is expected to be ready for serial production by 2027. The TEJAS MK-2 will be powered by the GE-F414 engine, which will be produced in India under a technology transfer deal. The TEJAS MK-2 is a 17.5-ton single-engine aircraft developed by Hindustan Aeronautics Limited (HAL) and the Indian Air Force and Indian Navy. The program aims to complete development by 2027, but recent developments indicate a pushback in the first aircraft rollout. The program is now aiming for a first rollout in late 2026 or early 2027. The TEJAS MK-1A, which was cleared for procurement by the Centre in 2021, will add the much-needed numbers to the fighter jet strength of the Air Force and is much more capable than the earlier version, as it is equipped with new age radars, electronic warfare systems and mid-air refuelling features.

Source: https://www.indiandefensenews.in/, February 13, 2024

TOP

EMSIF

(Special section of the MSME related news under ELCINA Micro & Small Industry Forum)

FMCG, apparel firms see red over new MSME payment rule

A new law that mandates that any payment made to registered micro, small or medium (MSME) enterprises beyond 45 days of receiving goods or services will not be recognised as an expense and added to the profit of the company for taxation purposes has caused a significant discomfort amid the  organised apparel retailers, top sources told FE. The body has requested the Finance Ministry to temporarily hold the implementation of the rule for the 2023-24 financial year, suggesting a staggered implementation over three years instead. It has also requested that payments from one MSME to another MSME for goods sourced should be excluded from the rule.

Source: By Viveat Susan Pinto, February 13, 2024

‘MSME backbone of Bengal’s economy’: Rajesh Pandey

Aiming AT ensuring growth of the Micro, Small, and Medium Enterprises (MSME) sector within the state, the West Bengal government is working towards providing complete support to the sector, claimed Rajesh Pandey, principal secretary of the MSME department. The Indian Express Group, on Friday, organized a series of panel discussions focusing on the MSME sector in West Bengal. According to the panelists, in recent times, MSME is being considered as the backbone of the Indian economy and their contribution in accelerating the economic growth of the nation has increased manifold in the last 5 years. In West Bengal, MSMEs account for more than 90% of the active industrial units, 50% of the industrial production, and 40% of the exports from the State.

Source: https://indianexpress.com/, February 11, 2024

Disputes Prior To Registration Under MSME Act Can't Be Referred To MSME Arbitration: Delhi High Court Reiterates

The Delhi High Court bench comprising Justice Subramonium Prasad held that an entity registered under Micro, Small and Medium Enterprises Development Act, 2006 after the commencement of the contract cannot be referred to arbitration by MSME Council under Section 17 and 18 of the Act for the claims arisen before its registration. The bench noted that this objection should be raised before.

Source: By Rajesh Kumar, https://www.livelaw.in/, February 11, 2024

SIDBI ET MSME Conclave: Stakeholders focus on sustainable growth of Belagavi's industrial ecosystem

The fourth edition of the ET SIDBI MSME Conclave was organised in Belagavi on February 6. The event was organised by Small Industries Development Bank of India (SIDBI) in association with The Economic Times, with an aim to uplift innovation and entrepreneurship in the “sugar bowl” of Karnataka. The event saw a large turnout of MSMEs and industry stakeholders. The SIDBI MSME Conclave in Belagavi hosted enlightening fireside chat and panel discussions with stakeholders and industry leaders on topics “Atmanirbhar Karnataka: Decoding the Blueprint for Holistic MSME Expansion” and “Unveiling Belagavi's Economic Resilience: Small-Scale Industry Synergy and Entrepreneurial Drive — Catalysts for Innovation and Growth”, respectively.

Source: https://economictimes.indiatimes.com/, February 13, 2024

BioAsia2024 teams up with Centre to support MSMEs

BioAsia 2024, Telangana’s flagship life sciences and Health Tech conference to be held here during February 26-28, 2024, has teamed up with the Ministry of Micro, Small, and Medium Enterprises (MSME) to provide support to micro, small and medium (MSME) sector. The collaboration with the Ministry of MSME with BioAsia, is in line with the Government’s vision, to promote the growth and development of small and medium-sized enterprises, which play a crucial role in India’s burgeoning life sciences industry. With a dedicated MSME Pavilion, featuring leading companies from the sector, BioAsia 2024, will be offering an opportunity for MSMEs to forge key partnerships, expand their businesses and showcase India’s prowess in the global life sciences arena.

Source: https://www.thehindubusinessline.com/, February 11, 2024

 TOP

ELCINA EVENTS , ACTIVITIES & SERVICES 

TOP

ELCINA Publications

https://elcina.com/roadmap-for-developing-pcb-eco-system-in-india	Roadmap For Developing PCB Eco-System in India Key Findings Indian PCB market and industry size in terms of domestic production, exports, and imports Growth drivers and challenges (needs & gaps) in the Indian PCB industry Growth potential of PCB manufacturing in India and identify enablers for creating & strengthening the domestic value chain Key inputs required viz. investments, technology, and infra eco-system Details of key PCB value chain players – global and domestic, who can be invited to invest to establish a strong PCB industry
https://elcina.com/ems-task-force-report-on-market-industry-analysis-of-ems-sector-in-india	EMS Task Force Report Key Findings Currently EMS Industry (Contract Manufacturing Services) are valued 832 Bn $ and are projected to grow 1055 Bn by 2025. Domestic electronics manufacturing is estimated at USD 75 Bn of which 39 Bn constitutes EMS value. This is divided into 23.5 Bn domestic Mfg. and USD 15.5 Bn PCBS/Sub-Assembly imports. Further USD 53.5 Bn is finished Electronic Goods imports of which USD 17 Bn is EMS value. Thus total EMS opportunity loss is US$ 32.5 Bn (15.5 +17). The report estimates that EMS production can grow realistically from USD 23.5 Bn today to USD 152 Bn by 2025 at CAGR of 45%. This will meet 75% of the countries EMS requirement of US$ 203 Bn by 2025 against a total estimated market of 400 Bn.
https://elcina.com/elcina-task-force-report-on-electronic-components	ELCINA Task Force Report on Electronic Components Key Findings Current status of component manufacturing in India – Areas of competence vs Gaps and inadequacies Components which urgently require investments and growth in domestic manufacturing Emerging technology and new components for upcoming opportunities Constraints and bottlenecks to be addressed Overcoming Policy constraints, WTO (ITA-1) deadlock and Zero Duty issue Strategy for overcoming these constraints Eco-System requirements- Role of Central and State Governments
https://elcina.com/elcina-directory-of-indian-electronics-industry	ELCINA Directory of Indian Electronics Industry 2022-23 Description ELCINA Directory of Indian Electronics Industry – includes the updates on Indian Electronics Industry and a host of additional improved features covering business environment, statistical industry scan, company databases plus various projections. This handy compendium with its easy-to-read format attracts the attention of a growing number of users (within India and abroad) Apart from electronics industry, the users of this Directory range from financial institutions, commercial banks, FIIs, Consultancy organizations as well as industry promotion institutes across the world….

TOP

FORTHCOMING EVENTS &  GENERAL INFORMATION 

International Events
	Int'l PCB and Electronics Manufacturing Exhibition February 29 to March 2, 2024 EH 100, Bangkok International Trade & Exhibition Centre (BITEC) https://www.chanchao.com.tw/pcb-eme-thailand/exhibitor.asp
	International Battery Seminar & Exhibit 2024  12 - 15 Mar 2024 Loews Royal Pacific Resort at Universal Orlando, Orlando, USA https://www.internationalbatteryseminar.com/
	Appliance & Electronics World Expo 2024 14 - 17 Mar 2024 Shanghai New International Expo Centre(SNIEC), Shanghai, China https://www.awe.com.cn/
	Seoul International Electric Fair & Power Generation Korea 2024 03 - 05 Apr 2024 Coex Halls A & B, Seoul, South Korea https://sief.co.kr/fairDash.do?hl=ENG
	Hong Kong Electronics Fair 2024 13-16 Apr 2024 - Physical     Fair 6-23 Apr 2024 - Click2Match (Online)  13 Mar-12 May 2024 - hktdc.com Sourcing  Hong Kong Convention and Exhibition Centre               https://www.hktdc.com/event/hkelectronicsfairse
	Wire Dusseldorf 2024      Messe Düsseldorf GmbH 15 - 19 Apr 2024 Messe Düsseldorf,Am Staad, Düsseldorf, D-40474 Germany https://www.wire-tradefair.com/
	Automotive World Korea 2024 24 - 26 Apr 2024 COEX, Seoul, South Korea  https://www.automotiveworld.kr/
	The International Electronic Circuits 13-15 May 2024 Shanghai, China http://www.cpcashow.com/en/information.asp
	The Total Solution Exhibition for Electronics Equipment 12- 14 June 2024 Tokyo, Japan  https://www.jpcashow.com/show2024/en/
	China (Guzhen) International Lighting Fair 2024 MESSE FRANKFURT 9-12 JUNE,2024 Guzhen Convention and Exhibition Center, Zhongshan, CHINA https://guangzhou-international-lighting-exhibition.hk.messefrankfurt.com/guangzhou/en.html
	KPCA Show 2024 (Int’l Electronic Circuits and Packaging Show) 4 - 6 September 2024 Songdo Convensia, Incheon http://www.kpcashow.com/m/eng/about.asp
	TPCA Show 23-25 October 2024 Taipei Nangang Exhibition Center https://tw.tpcashow.com/introtw/
	International Electronics Circuit Exhibition 4-6 December 2024 Shenzhen World Exhibition & Convention Center (Bao’an), China https://www.hkpcashow.org/en/show/information

Domestic Events
	4th Electronics Summit 2024 26, April 2024 Radisson Hotel, Sector 18, Noida https://elcina.com/forthcoming-activities
	Electronics for You Expo 2024 Thu, May 16, 2024 - Sat, May 18, 2024 Auto Cluster Exhibition Center, Pune, India, Pune, India https://www.efyexpo.com/pun
	13th Strategic Electronic supply Chain July, Bangalore https://ses-india.in/
	Electronica India 11th -13th September 2024 India Expo Mart, Greater Noida https://electronica-india.com/en/trade-fair/
	Semicon India 2024 11th -13th September 2024 India Expo Mart, Greater Noida SEMICON India 2024 - Shaping the Semiconductor Future | SEMI
	14th Source India Electronics Supply Chain February, Chennai Trade Centre SEMICON India 2024 - Shaping the Semiconductor Future | SEMI