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Dixon Technologies to invest Rs
1,500-1,800 cr in India over next three years
Home grown electronics manufacturer Dixon Technologies India
has lined up Rs 1500-1800 crore investment over the next
three years to expand production capacity and component
manufacturing, vice chairman and managing director Atul B.
Lall said. The poster boy of Indian contract manufacturing
will generate the funds from internal accruals based on cash
flow. Lall said this year itself, the company will invest
over Rs 500 crore and will not shy away from raising funds
for any big-ticket acquisitions. Dixon is also looking to
venture into the electric vehicle space with manufacturing
of components like electronics modules. Around one-third of
the capex will be invested in backward integration of
components. This fiscal itself, we will invest around Rs 570
crore. We will not be shy of making investments since our
balance sheet is very strong with no debt.
Source: https://economictimes.indiatimes.com/, June 14, 2024
Industry executives a worried lot: Why
India-China tensions are equal to a big headache for
electronics makers
Escalating tensions with China are said to have cost Indian
electronics manufacturers $15 billion in production losses
as well as 100,000 jobs in the past four years. This comes
amid protracted delays in issuing visas to citizens of the
northern neighbour and government probes into Chinese
companies operating in India. In submissions to various
ministries, the electronics manufacturing industry said New
Delhi has also lost out on a $10 billion export opportunity
besides $2 billion in value addition loss. According to
industry executives, 4,000-5,000 visa applications of
Chinese executives are currently awaiting government
go-ahead, hindering the Indian electronics manufacturing
industry’s expansion plans. This is despite New Delhi
setting up a mechanism to clear business visa applications
within 10 days.
Source: https://economictimes.indiatimes.com/, June 14, 2024
TOP
POLICY SCAN
1. A.
DGFT Notification No. 16/2024-25
Dated 06 June 2024: Enabling Provisions for Import of
Inputs Under Quality Control Orders (QCOs) for Advance
Authorisation Holders, EOU, and SEZ
The Central Government, exercising powers under Section 3
read with Section 5 of the Foreign Trade (Development &
Regulation) Act, 1992, and Para 1.02 and 2.03 of the Foreign
Trade Policy (FTP), 2023, has made amendments to para
2.30(A)(i)(g) of FTP, 2023, effective immediately:
Revised Policy [para 2.30(A)(i)(g)]: The Export Obligation (EO)
period for authorizations will follow Handbook of Procedures
4.40. However, the EO period is limited to 180 days from the
date of import clearance for QCO-exempt textile and chemical
products, as notified by the Ministry of Textiles and the
Department of Chemicals & Petrochemicals (DCPC).
Effect of this Notification: This amendment facilitates the
exemption of inputs imported by Advance Authorisation
holders, EOU, and SEZ from mandatory QCOs. The EO period for
products from the Ministry of Textiles and the DCPC is
capped at 180 days from the date of import clearance under
the QCO exemption.
B.
DGFT Corrigendum dated June 12, 2024,
to Notification No. 16/ 2024-25 dated 06.06.2024
Enabling provisions for import of inputs that are subjected
to mandatory Quality Control Orders (QCOs) by Advance
Authorisation holders, EOU and SEZ
The Ministry of Commerce & Industry, Department of Commerce,
through the Directorate General of Foreign Trade, issued a
corrigendum dated June 12, 2024,
to amend Notification No. 16/2024-25 dated June 6, 2024. The
correction pertains to the English version of the
notification, where the reference '2.30(A) (i) (g)' in
Paragraph 1 and the corresponding table is corrected to
'2.03(A) (i) (g)'. This correction ensures accuracy in the
regulatory framework concerning the import of inputs under
mandatory Quality Control Orders by Advance Authorisation
holders, EOU, and SEZ entities.
For details, ELCINA members are advised to refer to the DGFT
Notification No. 16/2024-25 dated 06 June 2024 and DGFT
Corrigendum dated June 12, 2024.
2.
Notification No. 17/2024-25 New Delhi, Dated: 11th June
2024: Amendment in Import Policy of Specific ITC (HS) Codes
under Chapter 71 of Schedule I (Import Policy) of ITC (HS)
2022
The Central Government, exercising powers under the Foreign
Trade (Development & Regulation) Act, 1992, and Foreign
Trade Policy 2023, has amended the import policy of certain
ITC (HS) codes under Chapter 71 of Schedule I (Import
Policy) of ITC (HS) 2022, effective immediately.
Key Changes:
-
ITC (HS) codes 71131912, 71131913, 71131914, 71131915,
and 71131960, previously categorized as "Free" for
import, are now classified as "Restricted."
-
However, import under these codes is permitted without
restricted import authorization under a valid INDIA-UAE
CEPA TRQ.
This amendment aims to regulate the import of gold items
studded with various materials under specified conditions,
ensuring compliance with revised import policies.
For details, ELCINA members are
advised to refer to the amended Import Policy of ITC (HS)
codes under Chapter 71 of ITC (HS) 2022.
TOP
3. CBIC Circular No. 06/2024-Customs
dated 7th June 2024:
Customs duty on Display Assembly of a cellular mobile
phone
Circular No. 06/2024-Customs dated
7th June 2024 from the Ministry of Finance, addresses
issues related to the classification and customs duty
applicability on Display Assembly of cellular mobile phones.
Key points and clarifications provided in the circular:
-
Background and Misdeclaration Issues: The
circular highlights instances where Display Assembly
components were mis-declared to avoid applicable customs
duties, leading to interception by authorities like DRI.
-
Technical Clarifications: Reference is made to a
Technical Document from the Ministry of Electronics and
Information Technology (MeitY) dated 23rd September
2020, which lists the components of a Display Assembly.
This document aids customs officials in assessing
correct duties.
-
Previous Circulars and Industry Concerns: Despite
Circular No. 14/2022-Customs issued on 18th August 2022
for clarity, interpretational challenges persisted,
prompting further industry representations to MeitY.
-
Committee Recommendations: A committee comprising
officials from CBIC and MeitY was formed to address
these issues. Their recommendations form the basis of
the current circular.
-
Definition of Display Assembly: The circular
defines Display Assembly as including specific
components such as Touch Panel, Cover Glass, LED
Backlight, etc. It emphasizes that if these components
are integrated (fabricated, embedded, fitted, or
attached), the entire assembly should be treated as a
Display Assembly for customs duty purposes, attracting a
concessional BCD rate of 10%.
-
Exclusions and Inclusions: It clarifies that
certain items like SIM Socket, SIM Tray, and Antenna
Pin, though attached to the assembly, do not change its
classification as a Display Assembly.
-
Exclusions from Display Assembly Definition:
Items such as Printed Circuit Board Assembly (PCBA) of
mobile phones (excluding certain components), Speakers,
Charger/Adapter, etc., are explicitly excluded from the
definition of Display Assembly and are subject to
different BCD rates.
The circular aims to provide clear guidelines on the
classification and customs duty treatment of Display
Assemblies of cellular mobile phones, addressing industry
concerns and ensuring compliance with customs regulations.
For more details, ELCINA members are advised to refer to the
CBIC Circular No. 06/2024-Customs dated 7th June 2024.
4. RBI Circular No. 43/2024-2025 dated
June 11, 2024: Opening of Additional Current Account for
Trade Transactions
The Reserve Bank of India (RBI) has issued Circular No.
43/2024-2025 to all Scheduled Commercial Banks holding AD
Category-I licenses. The circular revises the guidelines
previously outlined in FED Circular No. 08 dated November
17, 2023.
Key Points:
-
Background: AD Category-I banks were earlier
allowed to maintain a Special Rupee Vostro Account for
settlement of trade transactions in Indian Rupees (INR),
exclusively for exports.
-
Revised Provision: AD Category-I banks are now
permitted to open an additional special current account
for their constituents, not only for settlement of
export transactions but also for import transactions.
This revision aims to enhance operational flexibility.
This update is intended to facilitate smoother trade
transactions and provide greater flexibility in managing INR
settlements for both exports and imports through special
current accounts.
For more details, ELCINA members are advised to refer to the
full text of RBI Circular No. 43/2024-2025 dated June 11,
2024.
5. RBI/2024-25/41
A.P. (DIR Series) Circular No. 09 June 07, 2024: Foreign
Exchange Management (Overseas Investment) Directions, 2022 -
Investments in Overseas Funds
The Reserve Bank of India has updated the Foreign Exchange
Management (Overseas Investment) Directions, 2022, regarding
investments in overseas funds.
Key changes include:
a)
Investment Classification
a.
Investment in units or other instruments issued by a
regulated overseas investment fund is treated as Overseas
Portfolio Investment (OPI).
b.
Listed Indian companies and resident individuals can make
such investments, with unlisted Indian entities also
permitted to invest IFSCs.
b)
Scope of 'Regulated Funds':
a.
'Investment fund overseas, duly regulated' includes funds
managed by financial sector regulators in the host country.
c)
Investment in IFSCs:
a.
Indian entities (listed and unlisted) and resident
individuals may invest in units or other instruments issued
by investment funds in IFSCs as OPI.
These amendments aim to provide clarity and accommodate
diverse regulatory frameworks across jurisdictions. The
updated directions are issued under Sections 10(4) and 11(1)
of the Foreign Exchange Management Act, 1999. AD Category-I
Banks should inform their clients about these changes.
For more details, refer to the updated Foreign Exchange
Management (Overseas Investment) Directions, 2022.
TOP
INDUSTRY SCAN
General
India aims to emerge as
alternative to China with 3 major semiconductor
projects
India is emerging as a promising alternative to China in the
global chipmaking industry, hosting the Semicon exhibition
for the first time. Prime Minister Narendra Modi has
initiated three semiconductor projects worth Rs 1.25 lakh
crore, aiming to make India a major semiconductor hub. The
projects are expected to generate significant employment
opportunities, with TEPL's greenfield project creating jobs
for over 30,000 people. India's emergence as a key player in
the global semiconductor supply chain represents a strategic
realignment of global supply chains and underscores India's
potential as a global technology powerhouse. As the global
chipmaking industry navigates geopolitical tensions, India
is emerging as a promising alternative to China. The
international chip industry group SEMI is set to host its
Semicon exhibition in India for the first time in September,
a testament to India's growing importance in the
semiconductor supply chain.
Source: https://www.ibtimes.co.in/, June 15, 2024
AC sales may touch new record of 14
million units annual sales in 2024: CEAMA
The blistering heatwave this year has skyrocketed the demand
for room air-conditioners across the country, expecting a
record annual sale of around 14 million units, according to
the Consumer Electronics and Appliances Manufacturers
Association. The industry had "record-breaking figures" for
sales of air-conditioners in May and expects a surge of 30
to 40 per cent in volume growth in summers alone, Consumer
Electronics and Appliances Manufacturers Association (CEAMA)
President Sunil Vachani told PTI. The Indian AC market is
also evolving helped by energy-efficient models that are
suitable across income brackets and by investment by the
companies in indigenous manufacturing units of components.
The Indian residential AC market is expected to be around
10-11 million units, in which brands like Voltas, LG,
Hitachi Johnson, Lloyd, Panasonic, Daikin, and Godrej
compete.
Source: https://economictimes.indiatimes.com/, 06, 2024
FAME 3 Likely To Launch On Budget Day
With INR 10k Cr Budget
India is poised to potentially introduce a third phase of
its initiative designed to boost the adoption of electric
vehicles in its upcoming budget announcement next month.
This next version of the Faster Adoption & Manufacturing of
Electric Vehicles (FAME) scheme is anticipated to support
the purchase of electric two-wheelers, three-wheelers, and
four-wheelers with a proposed budgetary provision of
approximately INR 10,000 crore, according to sources close
to the matter. Senior officials engaged in the discussions
indicated that the announcement of FAME III might be made
when the full budget is revealed. The Ministry of Heavy
Industries, responsible for managing this scheme, has
already submitted a comprehensive plan to the Prime
Minister’s Office for review. A final decision on this
proposal is expected to be made close to the budget
presentation date, taking into account the current fiscal
landscape.
Source: https://www.electronicsb2b.com/, June 14, 2024
NSE Launches India’s First EV Index
India has introduced its first stock exchange index to track
the performance of companies within the electric vehicle
ecosystem. On Thursday, NSE Indices Ltd, the index services
subsidiary of the National Stock Exchange, launched the
Nifty EV & New Age Automotive index. This thematic index
will monitor the performance of companies involved in the
electric ecosystem, including those developing electric
vehicles and new-age automotive technologies such as hybrid
and hydrogen fuel-based vehicles. Eligibility for inclusion
in this index requires companies to be part of the broader
Nifty 500 index and involved in the production and supply of
electric or new-age automotive vehicles, batteries,
components, raw materials, and related technology. The index
aims to serve as a benchmark for asset managers and a
reference for passive funds in Exchange Traded Funds (ETFs),
index funds, and structured products. The base date for the
index is April 2, 2018, with a base value of 1000. It will
be reconstituted semi-annually and rebalanced quarterly.
Source: https://www.electronicsb2b.com/, May 31, 2024
TOP
Information Technology
Moving beyond coding,
Hyderabad to focus on innovation: T'gana IT
minister
Telangana aims to leverage its booming IT sector's strengths
to help India achieve its goal of becoming a $10 trillion
economy, the state's information technology minister
Duddilla Sridhar Babu has said. Over some time, our
industrial and information technology expertise has grown.
We are not only for coding but we are also for product
development. We also have the talent to build great products
from our base stations. So, the time has come to take the
leverage, Babu, who is also Telangana's Industries and
Commerce and Legislative Affairs told PTI here in an
interview. The senior minister is currently on a trip to the
US to engage with industry leaders and attract investments
from the United States. He pointed out that Hyderabad has
historically contributed significantly to global tech
advancements, with much of the coding work for tech giants
like Microsoft, Google, and Amazon originating from the
city, a top IT minister from Telangana has said the state
government is now focusing on innovation and product
development.
Source: https://www.business-standard.com/, July 11, 2024
India ready to assist Nepal in
development of IT sector: Ambassador Naveen Srivastava
India is ready to extend cooperation and assistance to Nepal
in its Information and Technology sector, India's Ambassador
Naveen Srivastava said on Friday. In a meeting with Nepal's
Minister for Communication and Information Technology Rekha
Sharma, where she acquainted Srivastava with "The IT Decade"
announced by the Nepali government in its budget for the
fiscal year 2024-25, the Ambassador said India's cooperation
covered three aspects specifically in enhancing skill and
training, construction, for digital infrastructure, and
connecting linkage with the private sector of India who have
invested in the IT startup. The ambassador informed Sharma
that New Delhi has made it easy for the Nepalis in India to
get a mobile SIM as per the past agreement. India will
address many other problems, including the bandwidth, he
added during the meeting attended by the officials from the
Ministry of Communication and Information Technology and the
Ministry of Foreign Affairs.
Source: https://economictimes.indiatimes.com/,
July 14, 2024
Amidst industry concerns, MeitY calls
meeting on proposed Digital Competition Bill
With the Digital Competition Bill seen as a key priority of
the government, the Ministry of Electronics and Information
Technology (MeitY) has called a meeting on June 13 to
discuss it with stakeholders and industry players. Officials
from the Ministry of Corporate Affairs will also attend the
meeting, which has been called by the MeitY Secretary.
According to sources, the meeting has been called to
understand the concerns of the industry around the proposed
Bill that seeks to regulate competition in the digital
markets. Industry players have in the past been keen that
MeitY, which regulates other aspects of the sector, step in
to discuss the Bill. The Bill, which has been finalised by a
high-level committee led by the Secretary of the Ministry of
Corporate Affairs, has called for ex-ante regulations or
pre-emptive measures to regulate anti-competitive behaviour
by Big Tech firms by identifying large digital enterprises
with a ‘significant presence’ in India in selected ‘core
digital services’ (CDS).
Source: https://www.businesstoday.in/, June 12, 2024
TOP
Consumer Electronics
Consumer electronics firm
Asus eyes up the HPC and server market
Taiwanese consumer hardware manufacturer Asus is looking to
build out its enterprise technology and cloud business, with
plans to start offering customers full stuck systems to run
AI. According to a report from the Register, company SVP
Jackie Hsu told the publication that the high-performance
computing (HPC) and server market had become a “big growth
area” for Asus. Asus has been involved in a number of AI
projects, including the development of its own
176-billion-parameter large language model (LLM). Dubbed the
Formosa Foundation Model, it has been trained on local
language data sets to generate text with traditional Chinese
semantics. The company also helped build the nine petaflops
Taiwania 2 supercomputer and in 2022, Asus partnered with
Nvidia to build a supercomputer in Taiwan for use by medical
researchers. Hsu also said that it had built a data center
to house the incoming Taiwania 4 supercomputer, achieving a
PUE rating of 1.17.
Source: https://www.datacenterdynamics.com/, June 15, 2024
Dixon Technologies hits record high on
Friday; Co clarifies capex plans
Dixon Technologies' share price pared intraday gains
partially on Friday, after the company issued clarification
on its capex plans. Dixon share price had moved up 5.4 per
cent in morning deals, to hit a fresh record high of Rs
11,452 per share. At 2:30 PM, however, it was quoting 2.6
per cent higher at Rs 11,142 per share. Issuing
clarification on a report by The Economic Times, Dixon
Technologies said the company, on an average incurs capex of
Rs 500 - 600 crore yearly on its capacity building and keeps
evaluating various growth business opportunities including
inorganic opportunities at various points of time.
"Currently, however, there is no specific business
opportunity which the company is evaluating or have
formalised which entails any definitive disclosure to the
stock exchanges," it said in a statement.
Source: https://www.business-standard.com/, June 14, 2024
Gadget Watch: AI Pin presents wearable
AI assistant
It’s a wireless device, developed by the startup Humane,
that has been highlighted by Nordic Semiconductor’s
excellent Wireless Quarter. Think of it as small,
configurable, wearable AI assistant. “The Humane Ai Pin is
an innovative wearable device that redefines the interaction
with AI, offering a discreet yet powerful way to stay
connected and in control,” say the creators. Comprising the
visible display, a battery booster for inside the clothing
and a “beacon” for communicating messages, the device can
apparently chat with the user/wearer to help find
information, including searching through your email. And
it’s highlighted that the device could even serve as an
interpreter, translating languages… For audio (AAC) there’s
a Panasonic speaker on board, and the Pin supports Voice
over LTE (VoLTE) and 3G comms.
Source: https://www.electronicsweekly.com/, June 14, 2024
TOP
Telecom
TRAI refutes claims on
charging customers for holding multiple SIMs
The Telecom Regulatory Authority of India (TRAI) on Friday
said that the claims of charging customers for holding
multiple SIMs or numbering resources are completely false
and baseless and serve only to mislead the public. The
Department of Telecommunications (DoT), being the sole
custodian of telecommunication identifiers (TI) resources,
had approached the TRAI through its reference dated
September 29, 2022, seeking its recommendations on the
revised National Numbering Plan for undertaking efficient
management and judicious utilisation of numbering resources
in the country. Accordingly, this Consultation Paper (CP) of
TRAI on the revision of the National Numbering Plan (NNP)
was issued to assess all factors currently affecting the
allocation and utilisation of TI resources.
Source: https://www.ibtimes.co.in/, June 15, 2024
Vodafone looks to sell entire $2.3 bn
stake in Indus Towers
Vodafone Group is looking to sell its entire $2.3 billion
stake in India's Indus Towers through stock market block
deals next week, two sources with direct knowledge said, as
part of the British firm's effort to repay debt. Vodafone
owns 21.5% of mobile-tower operator Indus via various group
entities. As of Friday's closing stock price in Mumbai, the
investment is worth $2.3 billion. The final size of the
stake sale is yet to be decided and could be lower than
21.5% if demand, which is still being assessed, is
insufficient, said the sources, who declined to be named as
the discussions were private. Vodafone India and its UK
parent did not immediately respond to requests for comment.
Indus Towers declined to comment. Vodafone has hired Bank of
America, Morgan Stanley and BNP Paribas to manage the stake
sale in Indian stock markets, the sources said.
Source: https://economictimes.indiatimes.com/, June 15, 2024
Reliance's Jio Platforms clears hurdle
in bid to launch satellite internet in India
A joint venture between Reliance Industries' Jio Platforms
and Luxembourg-based SES to provide gigabit fibre internet
has won approval from the Indian space regulator to operate
satellites there, a government executive said. he three
approvals issued to Orbit Connect India - which aims to
provide satellite-based high-speed internet access - come as
companies from Amazon.com to Elon Musk's Starlink have been
vying for the go-ahead to launch satellite communication
services in the world's most populous nation. The
authorisations have not been previously reported. They were
granted in April and June from the Indian National Space
Promotion and Authorisation Centre, known as IN-SPACe. These
allow Orbit Connect to operate satellites above India, but
further approvals are needed by the country's department of
telecoms to begin operations.
Source: https://economictimes.indiatimes.com/, June 14, 2024
Telecom operators kick off trials for
Calling Name Presentation service
Mobile users can soon see the name of the caller on their
smartphone screen as the government has directed the telecom
service providers (TSPs) to introduce Calling Name
Presentation (CNAP) in their networks and some of the
operators have already kicked off the trial runs in the last
few days. A meeting was held in Department of
Telecommunications (DoT) on Wednesday between senior
officials and representatives of telcos to implement the
service at the earliest across the country.According to
government sources, Bharti Airtel, Reliance Jio and
Vodafone-Idea have already started trial runs in Haryana and
Mumbai. However, the CNAP service is available to only 4G or
5G customers and hence, some of the mobile users who are
still on 2G (Airtel, Voda-Idea or BSNL) won’t be able to
access this facility. One of the operators said that CNAP
will be introduced in all the smartphone users ‘eventually’
in the coming months.
Source: https://economictimes.indiatimes.com/, June 14, 2024
TOP
EV’s & Auto Electronics
The green journey: Cleaner
fuels driving one-fifth of PVs sold in India
As India’s automotive emission regulations become stricter,
the share of cleaner fuels and electric vehicles (EVs) is
rising sharply. About a fifth of the total passenger vehicle
(PV) sales in India now consist of cleaner fuel or electric
options. The share of battery electric vehicles (BEVs),
hybrid EVs, plug-in hybrids, and compressed natural gas (CNG)
vehicles touched 19.23 per cent of overall PV sales in
2023-24, up from a mere 9.29 per cent in FY22, according to
data from JATO Dynamics. In comparison, the share of both
petrol and diesel internal combustion engines has declined.
While the share of diesel is down from 18.83 per cent in
FY22 to 17.79 per cent in FY24, that of petrol ICE vehicles
has fallen to 62.98 per cent in FY24 from 71.88 per cent in
FY22. The share of hybrids has doubled from FY23 (1.06 per
cent) to FY24 (2.15 per cent). Auto original equipment
manufacturers (OEMs) have focused on launching CNG variants
of their popular models to meet consumer demand for vehicles
with lower running costs. For example, last year several
popular models saw their CNG avatars making their debut:
Maruti Suzuki Brezza CNG (2023), Tata Punch CNG (2023),
Maruti Suzuki Grand Vitara CNG (2023), Tata Altroz CNG
(2023).
Source: By Sohini Das, https://www.business-standard.com/,
June 14, 2024
Honda and Mitsubishi Corp. to reuse EV
batteries in electric grid
Honda Motor and Mitsubishi Corp. will establish a new
company in July that will give a second life to used
electric vehicle batteries in Japan, thus reducing the cost
of driving an EV. The joint venture, Altna, aims to develop
new services in anticipation of the broader use of EVs.
According to a joint news release, Altna's amount of capital
and capital reserves will total 2 billion yen ($12 million).
Honda and Mitsubishi will each have a 50% stake in the new
company. The company will lease EV batteries for new cars
and re-employ them later as storage batteries for electrical
grids. It expects this second life will allow it to lower
battery lease prices, as grid operators will share the
expense of the batteries with drivers.
Source: By SHIN WATANABE, https://asia.nikkei.com/, June 15,
2024
High copper prices the new normal,
likely to impact electric cars, expert warns
Following a surge in copper futures prices early in May,
markets are now seeing a moderated correction. Amid
speculation about future demand increases and supply issues,
experts anticipate that elevated copper prices will become
the norm in the long term, despite potential short-term
fluctuations. Rodrigo Scolaro, an economist at Gep
Costdrivers, shared this view in an interview with
Investing.com Brazil. In this context, the electric vehicle
sector faces significant challenges due to rising costs of
key metals like copper, as noted by the expert. Nickel and
lithium prices may also rise, further impacting industry
costs. Factors contributing to the recent copper price hike
include mining disruptions in Chile, Peru, Panama, and
Zambia, which triggered the price surge. Political
developments could sustain these elevated levels,
particularly as China's supply-demand balance is expected to
remain in deficit in the coming years.
Source: https://in.investing.com/, June 15, 2024
TOP
Defence & Solar
Army unleashes 'silent
killer' indigenous Nagastra-1 suicide drones
along Pakistan, China borders: Key features
revealed
Solar Industries, based in Nagpur, has delivered the first
batch of indigenously developed Nagastra-1 Loitering
Munitions to the Indian Army, marking a significant
milestone in India's defense preparedness and self-reliance
in military technology. The Nagastra-1 is a UAV-based
loitering munition designed to act as an aerial ambush
system. Its primary function is to hover above targets and
execute precision strikes with GPS-enabled accuracy,
achieving a remarkable precision of 2 meters. The Nagastra-1
drones are designed for precision strikes on enemy training
camps, launch pads, and infiltrators, reducing the risk to
soldiers. These man-portable drones are silent due to their
electric propulsion and low acoustic signature, making them
ideal for infantry operations. Developed entirely in India
by EEL, Nagastra-1 boasts over 75% indigenous content,
reducing reliance on foreign sources. This domestic
production capability has resulted in significant cost
savings compared to similar systems previously acquired from
foreign vendors.
Source: https://economictimes.indiatimes.com/, June 14, 2024
India’s Defence Advances: Sagar
Defence Engineering to Develop Cutting-Edge Underwater
Launched Unmanned Aerial Vehicles (ULUAVs)
In a significant boost to India’s military capabilities,
Sagar Defence Engineering Pvt. Ltd. from Pune has secured a
contract from the Defence Research and Development
Organisation’s (DRDO) Technology Development Fund (TDF) to
develop Underwater Launched Unmanned Aerial Vehicles (ULUAVs).
This groundbreaking project aims to enhance the strategic
prowess of the nation’s defense forces, showcasing a major
leap in India’s defense technology. Sagar Defence
Engineering emerged victorious in a competitive bidding
process that saw participation from 17 firms. The contract
was officially signed between Dr Nidhi Bansal, Director of
TDF, and Sagar Defence Engineering Pvt. Ltd. in the presence
of Dr GA Srinivasa Murthy, Director of the Defence Research
& Development Laboratory (DRDL) in Hyderabad along with the
PMMG team, DRDL, and the user, a representative from the
Directorate of Submarine Acquisition (DSMAQ) of the Indian
Navy. This highlights the collaborative effort to propel
India’s defence technology to new heights.
Source: By Huma Siddiqui, https://www.financialexpress.com/,
June 12, 2024
CFF and Atlas Elektronik Partner for
Indigenous Sonar Project for Indian Navy
ATLAS ELEKTRONIK GmbH has joined forces with CFF Fluid
Control Ltd to supply 12 indigenous low-frequency variable
depth sonar systems for the Indian Navy. These advanced
towed sonars are set to be integrated into Indian Navy
Anti-Submarine Warfare (ASW) vessels, through shipbuilders
Garden Reach Shipbuilders and Engineers Ltd in Kolkata and
Cochin Shipyard Limited in Kochi. The technology for these
sonar systems is not entirely new to Indian waters. Atlas
Elektronik has previously supplied Active Towed Array Sonars
to the Indian Navy, demonstrating the effectiveness and
reliability of their technology. This new partnership aims
to enhance the operational capabilities of the Indian Navy’s
front-line platforms by leveraging proven technology and
localized production.
Source: https://www.financialexpress.com/, June 14, 2024
French delegation in india to
negotiate ₹50,000 crore rafale marine jet deal
A high-level French delegation is in India to negotiate the
price and other related issues for the all-important 26
Rafale Marine fighter aircraft deal, valued at ₹50,000 Crore.
The talks, which were earlier supposed to be held on 30 May,
were postponed to second week of June in view of the
recently-concluded Lok Sabha elections. Sources said the
Indian side in these government-to-government talks is
represented by the officials from the Directorate General of
Acquisition under the Ministry of Defence and other military
officers from the user side. The project, likely to be worth
over ₹50,000 crore, will help increase the number of these
advanced aircraft in the Indian inventory to 62 with the
existing 36 in the Air Force fleet.
Source: https://www.indiandefensenews.in/, June 14, 2024
MSME
(Special section of the MSME related news under ELCINA Micro
& Small Industry Forum)
GeM: 205% jump recorded in
service procurement by govt from MSMEs in FY24
Services purchased by various government departments and
central public sector enterprises (CPSEs) from MSMEs via the
public procurement platform Government eMarketplace (GeM)
saw a significant jump of 205 per cent in the financial year
2023-24. In a post on X (formerly Twitter), GeM said the
gross merchandise value (GMV) of services on GeM reached an
“unprecedented Rs 2.07 lakh crore contributing to nearly 50
per cent of the total GeM GMV.” The portal said it has grown
its services portfolio by launching 36 new services on the
platform. Currently, there are 320 services and 11,926
product categories listed on GeM. “The platform is
well-equipped to cater to all the dynamic needs of
government buyers across levels of administration!” the
platform said on X.
Source: https://www.financialexpress.com/, June 14, 2024
Newly sworn-in MSME Minister Manjhi
urges entrepreneurs for Udyam registration of new ventures
Newly sworn-in MSME Minister Jatin Ram Manjhi has urged
India’s aspiring entrepreneurs to register with the
government’s MSME registration portal Udyam to launch their
new ventures. “Get your Udyam Registration for free and
start your own business. Register at http://udyamregistration.gov.in
to get your Udyam Registration,” said Manjhi in a post on X
(formerly Twitter). Former Chief Minister of Bihar, Manjhi
replaced Bharatiya Janata Party’s Narayan Rane who took
charge as the MSME Minister in July 2021 amid the first
major cabinet reshuffle in the second term of PM Modi. He
had replaced Nitin Gadkari. The Dalit face of NDA, Manjhi,
79, and the leader of the Hindustani Awam Morcha (HAM),
Manjhi had secured the Gaya seat in Bihar in the 2024 Lok
Sabha elections by 101812 votes against Rashtriya Janata
Dal’s Kumar Sarvjeet.
Source: https://www.financialexpress.com/, June 14, 2024
SBI says MSME loans will be focal
point for growth over next 5 yrs
SBI, the country's largest lender, on Tuesday said small
business lending will be the "focal point" for growth and
profit for the next five years. The state-owned lender
launched a product christened "SME (small and medium
enterprises) Digital Business Loans", under which loans will
be sanctioned in 45 minutes. The bank is aiming to broaden
credit accessibility for small businesses in the coming
months by extending availability across all partner customer
service point touchpoints and via QR codes at outdoor
touchpoints in the coming months, the statement said. For
the year ended on March 31, 2024, the bank's overall SME
book grew by over 20 per cent to ₹4.33 lakh crore and gross
non performing assets in the book came down to 3.75 per cent
from a peak of 9.43 per cent in FY20. The newly launched
product was termed as "a significant leap forward" in
digitalisation by offering SMEs a digital loan journey with
an end-to-end sanction turnaround time of up to 45 minutes.
Source: https://www.livemint.com/, June 11, 2024
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ELCINA EVENTS , ACTIVITIES & SERVICES
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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 2023-24
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….
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FORTHCOMING EVENTS & GENERAL INFORMATION
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A newsletter published by ELCINA, New
Delhi. The information contained in this newsletter
is for private circulation only. Despite our best
efforts, some errors could have crept in. You are
advised to verify authenticity of the information
before further use.
Electronic Industries Association of India (ELCINA
)
ELCINA House, 422 Okhla Industrial Estate,
Phase-III, New Delhi 110020 (India).
E-Mails:
info@elcina.com
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