VOL XXV, ISSUE 21

15 November 2024

Impact of 'Make in India': Imports for top electronics cos dip on rising local tide, possibly for the first time ever

The thrust on 'Make in India' and component localisation has led to a decline in imports by major electronic firms such as Samsung, Apple, Whirlpool, Dixon and Havells - possibly for the first time ever. The combined import value of eight electronics firms, that also include LG Electronics, Amber Enterprises and Haier India, fell 7% year-on-year in 2023-24 to ₹95,143 crore, according to their regulatory filings with the Registrar of Companies (RoC). The total import value of these companies had crossed ₹1 lakh crore in 2021-22 and increased further in FY23. Industry CEOs attributed the drop in imports to increasing manufacturing within the country and localisation. Value addition in India has become high in home appliances like refrigerators, ACs and washing machines, where all critical components like compressors, motors, sheet metal, heat exchangers are now locally manufactured.

Source: By Writankar Mukherjee, https://economictimes.indiatimes.com/, November 16, 2024

India's electronics manufacturers eye a Trump boost

Donald Trump’s second term as US president could boost India's burgeoning electronics manufacturing industry as Washington is expected to erect a tariff wall to keep Chinese shipments out of consumer shelves, making it imperative for sourcing managers to look beyond the current factory to the world. he US plans to impose tariffs on Chinese electronics, encouraging companies to seek alternative manufacturing hubs. India, with its growing manufacturing sector, stands to gain. Experts believe this shift could lead to increased electronics exports from India to the US. However, concerns remain about India's capacity to handle the potential surge in production. As imports from China are snagged in the tariff nets, the electronics industry expects a large chunk of production to shift to other countries, including India.

Source: By Shubrojit Mallick, Writankar Mukherjee, https://economictimes.indiatimes.com/, November 07, 2024

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  POLICY SCAN                                                                               

1. CBIC Instruction No. 21/2024-Customs dated 16th October 2024: CBIC Clarifies Acceptance of Retrospective Certificates of Origin under India-UAE CEPA

The Central Board of Indirect Taxes and Customs (CBIC) has issued Instruction No. 27/2024-Customs, providing guidelines to enhance the ease of doing business while investigating tax evasion in import/export activities.

Key Highlights:

• Balanced Approach to Enforcement

• Field officers are advised to ensure that legitimate trade and business operations are not disrupted during investigations.

• Emphasis on maintaining fairness and avoiding undue harassment of importers/exporters.

• Streamlined Investigations

• Cases involving suspected tax evasion must be supported by credible evidence.

•  Authorities are directed to adopt a transparent and efficient approach while handling these cases.

• Adherence to Timelines

• Investigations and decision-making processes should adhere to prescribed time limits to avoid delays.

These guidelines reaffirm CBIC’s commitment to striking a balance between compliance enforcement and fostering a business-friendly environment. The measures aim to build trust, reduce compliance burdens, and improve India’s trade competitiveness.

This development is pivotal for stakeholders in the trade ecosystem and reflects the government's proactive steps toward ensuring seamless business operations.

For more details, members are advised to refer to the official CBIC website regarding Instruction No. 27/2024-Customs dated 1st November 2024.

2.  DGFT Public Notice No. 31/2024-25-DGFT dated 5th November 2024: Update to Appendix 2Y of Foreign Trade Policy (FTP) 2023

The Directorate General of Foreign Trade (DGFT) has amended Appendix 2Y of the FTP 2023, which lists Ministries/Departments whose mandatory Quality Control Orders (QCOs) are exempted for inputs utilized in the manufacture of export products by Advance Authorisation holders, EOUs, and SEZs.

Key Highlights:

• The Ministry of Heavy Industries has been added to the list of Ministries/Departments in Appendix 2Y, allowing inputs governed by its QCOs to be exempted for manufacturing export products.

This update, effective immediately, is in line with Notification No. 71/2023 dated March 11, 2024, enhancing the ease of compliance for exporters using inputs covered by QCOs under this Ministry.

For more details, members are advised to refer to the official DGFT website regarding Public Notice No. 31/2024-25-DGFT dated 5th November 2024.

3. CBIC Circular No. 22 /2024-Customs dated 08th November 2024 :  Clarification on Insurance Amount and Bond Value for CCSPs and Validity of Bond for AEO-LO

The Central Board of Indirect Taxes and Customs (CBIC) has issued a clarification regarding the insurance amount and bond value for Customs Cargo Service Providers (CCSPs) under the Handling of Cargo in Customs Areas Regulations (HCCAR), 2009.

Key Highlights:

• Insurance Amount: The amount of insurance to be provided by CCSPs is now revised to reflect the average value of goods likely to be stored in the Customs area for a period of 5 days, based on projected capacity. This is in line with reduced average dwell times for imported and export goods. The insurance amount may also take into account goods already insured by importers or exporters.

• Custodian Bond: The value of the custodian bond for CCSPs has been reduced from 10 days' storage to 5 days, as per Notification No. 75/2024-Customs (N.T.) dated 07.11.2024. This reduction aims to lower the cost burden on CCSPs.

• Validity of AEO-LO Custodian Bond: The validity of the custodian bond executed by Authorized Economic Operator-Logistics Operators (AEO-LO), such as ICDs/CFSs, will now be aligned with the validity of their AEO authorization. This change is reflected in the amendment to Regulation 10 of HCCAR, 2009.

These changes aim to align with the reduced dwell time for goods and support Ease of Doing Business while lowering the compliance burden for CCSPs and AEO-LO entities.

For more details, members are advised to refer to the official CBIC website regarding Circular No. 22 /2024-Customs dated 08th November 2024.

4. RBI A.P. (DIR Series) Circular No. 19 dated 11th November 2024: Operational framework for reclassification of Foreign Portfolio Investment to Foreign Direct Investment (FDI)

The RBI circular outlines the process for reclassifying Foreign Portfolio Investments (FPI) to Foreign Direct Investments (FDI) when the FPI exceeds the 10% equity limit in a company.

Key Highlights:

1. Reclassification Option: If an FPI exceeds the limit, it can either divest or reclassify the excess investment as FDI, provided it obtains necessary approvals and the consent of the Indian company.

2. Reporting: The FPI must report the reclassification using specific forms (FC-GPR for new investments, FC-TRS for secondary market acquisitions).

3. Custodian Role: The Custodian will freeze new purchases until reclassification is complete and transfer the securities to an FDI account once reporting is done.

4. Sector Restrictions: Reclassification is not allowed in prohibited sectors for FDI.

5. Timeframe: The process must be completed within five trading days from the transaction causing the breach.

This circular provides clarity on the procedures and conditions for reclassifying foreign portfolio investments into foreign direct investments, offering a structured approach to compliance.

For more details, members are advised to refer to the official RBI website regarding RBI A.P. (DIR Series) Circular No. 19 dated 11th November 2024.

5. CBIC Instruction No. 28/2024-Customs Dated 12th November 2024: General ways of identification of the Low Voltage Switchgear and Controlgear under EEQCO as per phased implementation plan

The Ministry of Finance, through the Central Board of Indirect Taxes & Customs (CBIC), issued Instruction No. 28/2024-Customs on 12th November 2024. This instruction concerns the Electrical Equipment Quality Control Order (EEQCO), 2020, specifically for Low Voltage Switchgear and Controlgear.

Key Highlights:

1. EEQCO Implementation: The first phase of the EEQCO for Low Voltage Switchgear products was to come into effect on 10th November 2024.

2. Identification Guidelines: The Ministry of Heavy Industries provided guidelines on identifying products under EEQCO as part of the phased implementation plan.

The circular is aimed at ensuring smooth enforcement of quality control measures for low voltage switchgear under the EEQCO framework.

For more details, members are advised to refer to the official CBIC website regarding Instruction No. 28/2024-Customs Dated 12th November 2024.

6. DGFT Trade Notice No. 22/2024-25 dated 14th November 2024: Harmonisation of Schedule-II (Export Policy), ITC(HS) 2022

The Trade Notice No. 22/2024-25 issued by the Directorate General of Foreign Trade (DGFT) on 14th November 2024 focuses on the harmonization of Schedule-II (Export Policy) under the ITC(HS) 2022.

Key Highlights:

1. Harmonization of Export Policy: DGFT proposes a revised Schedule-II (Export Policy) based on 8-digit ITC (HS) codes, aligning with the latest tariff codes under the Finance Act 2024. This harmonization will replace the previous description-based export policy.

2. Previous Draft and Feedback: A draft version of the Schedule-II for Chapters 40-98 was shared earlier (under Trade Notice No. 11/2024-25 dated 02.08.2024). The comments received have been incorporated into the updated draft, which now includes all Chapters 01-98.

3. Invitation for Comments: Stakeholders are invited to submit their comments on the updated draft by 27th November 2024 via email to exportdgft@nic.in. The final draft will be notified after this consultation period.

This initiative seeks to streamline the export control and facilitation process, offering enhanced clarity for stakeholders.

For Electronics Sector: Stakeholders in the electronics sector, particularly those dealing with HS codes for Chapters 84, 85, and other related products, should refer to the official DGFT website Trade Notice No. 22/2024-25 dated 14th November 2024 for further details regarding the harmonized export policy.

For any queries regarding this ELCINA Policy Capsule, please contact policy@elcina.com.

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         INDUSTRY  SCAN                                                                             

General

Assam govt to develop Semiconductor Manufacturing Cluster in Jagiroad

Assam Chief Minister Himanta Biswa Sarma has said that the state government is planning to develop a Semiconductor Manufacturing Cluster in Jagiroad, alongside the upcoming Tata Semiconductor Assembly and Test Facility (TSAT). The semiconductor cluster will target over 61 types of raw materials and over 150 potential suppliers. The objective of developing a Semiconductor Manufacturing Cluster is to attract critical suppliers for raw materials and equipment near the project site. The government aims to streamline logistics, ensuring cost-efficient and timely delivery. This initiative is also expected to create significant opportunities for local businesses and industries. The  upcoming Rs 27,000 crore Tata semiconductor assembly and test facility plant at Jagiroad in Morigaon district will be India’s first semiconductor assembly and test facility.

Source: https://nenews.in/, November 17, 2024

Semiconductor sector to create 1M+ jobs: Top roles in demand

The semiconductor industry is poised to generate 1 million jobs across varied sectors by 2026, a significant boost to the employment landscape. This demand is expected to be seen in various categories, including an estimated 300,000 jobs in chip semiconductor fabrication, around 200,000 positions in ATMP (Assembly, Testing, Marking, and Packaging), and additional roles in chip design, software development, system circuits, and manufacturing supply chain management. The need for a skilled workforce spans roles like engineers, operators, technicians, and specialists in quality control, procurement, and materials engineering, emphasising India's strategy to build a robust semiconductor talent pipeline by 2026. India's semiconductor market size was valued at USD 29.84 billion in FY2023 and it is anticipated to reach USD 79.20 billion by FY2031, with a compound annual growth rate (CAGR) of 13.55% throughout the forecast period from FY2024 to FY2031.

Source: https://www.peoplematters.in/, November 12, 2024

Tata's Croma names Shibashish Roy as chief executive officer

Tata's Infiniti Retail, electronics retailer that operates under the brand Croma, on Thursday announced the appointment of Shibashish Roy as its next chief executive officer. Roy will takeover as CEO from November 18, 2024, and succeed Avijit Mitra, who is set to retire in March 2025 after serving as Managing Director and CEO. Mitra will continue as Managing Director on the company’s board until his retirement. This leadership change is part of Infiniti Retail’s succession planning, aimed at ensuring a smooth transition and continuity in the company’s growth strategy. Roy currently holds the role of Deputy CEO at Infiniti Retail, where he is responsible for key functions including store operations, e-commerce, marketing, buying, merchandising, services, and technology. Roy’s experience in overseeing these critical areas positions him to steer Croma’s growth in the competitive consumer electronics and durables market, the company said in a statement.

Source: https://economictimes.indiatimes.com/, November 07, 2024

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Information Technology

Parliamentary panel to review mechanism to curb fake news

Two months after the Bombay High Court struck down a key provision of the amended Information Technology (IT) Rules, 2021, which empowered the government to identify “fake news” on social media platforms through its Fact Check Unit (FCU), the Parliamentary Panel on Communications and Information Technology, has called for a review of mechanism to curb fake news. The panel headed by Bharatiya Janata Party (BJP) MP Nishikant Dubey, has summoned News Broadcasters and Digital Association along with Editors Guild of India on November 21. They will also be meeting the representatives of the Ministry of Information and Broadcasting the same day. In April 2022, the Ministry of Electronics and Information Technology promulgated the IT (Intermediary Guidelines and Digital Media Ethics Code) Amendment Rules, 2023 (2023 Rules), which amended the Information Technology Rules, 2021.

Source: https://www.thehindu.com/news/, November 10, 2024

Chhattisgarh's ambitious IT project finally takes off after two decades

After nearly two decades, the Chhattisgarh government’s ambitious information technology (IT) project is finally seeing the light of day. The plan to create an IT hub in the state was first proposed around 21 years ago, in 2003. Around 450 acres were proposed for the project. The state government offered attractive incentives, created investment zones, and developed ready-to-occupy buildings for IT, special economic zones, an IT investment region, and an electronic manufacturing cluster in Naya Raipur, the upcoming capital city of Chhattisgarh. It was announced that units established within designated IT areas would be reimbursed 80 per cent of the land premium, as determined by the allotment agency, against a prescribed guarantee by the investing industrial unit.

Source: By R Kirshna Das, https://www.business-standard.com/, November 12, 2024

Cybersecurity challenge reaches boardrooms, only 52% leaders confident

 Only 52 per cent of industry leaders worldwide are “very confident” that company boards have the ability to navigate cybersecurity, according to a survey by Deloitte. The role of C-suite leaders, including chief information security officers, is evolving as cybersecurity considerations intensify across organisations. The survey asked 1,200 leaders in various industries worldwide, including India, to share their views on cybersecurity and business. It included senior leaders with responsibility for information technology (IT), cybersecurity and business. The survey asked 1,200 leaders in various industries worldwide, including India, to share their views on cybersecurity and business.

Source: By Shivani Shinde, https://www.business-standard.com/, November 10, 2024

Are campuses ready to cater to tech industry's demand on specialised talent

Commentary from leading IT services players following the Q2 FY25 results indicates two big hiring trends: First, hiring is back and players are hitting the campus trail. Two, hiring will be focused on specialised skills even for entry-level candidates. This means that campuses now have to ensure students focus on building specialised skills. More importantly, colleges have to make sure they have courses that support this. A recent research by HirePro, an AI-powered recruitment platform, surveyed over 20,000 students across 350 plus colleges and saw participation of over 200 corporates and 100-plus campus talent recruiters. The survey revealed that more than 63 per cent of colleges have begun taking steps to prepare for an AI-driven future. This includes focusing on curriculum enhancement (40 per cent), collaborating with tech giants for research-based projects and learnings (27 per cent), specialised under graduate (UG) and post-graduate (PG) courses on AI, ML and data science (17 per cent) and creating awareness of the impact of AI on the nature of jobs among other initiatives.

Source: By Shivani Shinde, https://www.business-standard.com/, October 23, 2024

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Consumer Electronics

Qualcomm Launches Snapdragon 8 Elite Mobile Platform Focusing on Performance, Power Efficiency

Qualcomm Technologies unveiled its Snapdragon 8 Elite mobile platform during the Snapdragon Summit 2024 held in Maui on October 21-23. The platform specializes in powering on-device generative AI and handling complex multi-modal AI while emphasizing privacy. The Snapdragon 8 Elite features Qualcomm’s self-designed Oryon core, enabling 45% faster single-core CPU performance compared to the first generation ones and requires 44% less power to reach the same computing performance. The announcement comes at a time when AI has been making waves and spearheading novel innovations. Among AI-related devices, people use AI smartphones daily, making the Snapdragon 8 Elite even more relevant. In addition to the CPU, the Snapdragon 8 Elite was also equipped with the redesigned Adreno GPU. Qualcomm introduced the sliced architecture with three GPU slice running on board simultaneously to achieve better power efficiency, implying that relatively simple issues can be solved without activating the whole GPU.

Source: https://www.counterpointresearch.com/, November 12, 2024

iPhone 15 World’s Best-selling Smartphone in Q3 2024

Apple’s iPhone 15 was the best-selling smartphone globally in Q3 2024, followed closely by the iPhone 15 Pro Max and iPhone 15 Pro, according to Counterpoint Research’s Global Handset Model Sales Tracker. Samsung maintained the biggest presence in the global top-10 best-selling smartphones list with five spots, followed by Apple with four and Xiaomi with one. This distribution has remained consistent from 2023, indicating stable consumer preferences. While Apple’s share of the top-10 list has declined slightly, Samsung’s presence has grown to keep the combined market contribution of the top 10 smartphones at around 19%. The growing consumer preference for high-end smartphones is gradually narrowing the market share gap between the iPhone’s base and Pro variants. Notably, for the first time in a third quarter, half of the total iPhone sales were contributed by the Pro variants in Q3. This shift is helping Apple drive higher-value device sales.

Source: https://www.counterpointresearch.com/, November 07, 2024

Festive season sees 13% rise in sales of electronic products: NielsenIQ

The four weeks of the festive period ending Diwali has led to 13% year-on-year (yoy) value sales growth and 8% year-on-year volume growth for technology products and durables, as per the latest data by market researcher NielsenIQ. This was largely driven by large appliances, smartphones and laptops. Air conditioners led the charts with three times growth compared to all category growth, while laptops saw a recovery in sales after a dull year, the researcher said. The festive season brought good news for the technology sector. Sales of tech products and durables saw a significant rise. Air conditioners, laptops and smartphones were popular choices among shoppers. This growth was fueled by new features, discounts and a preference for premium products. Interestingly, most of the sales happened before Diwali, indicating a change in consumer behavior.

Source: https://economictimes.indiatimes.com/, November 14, 2024

Samsung India posts slower revenue growth for FY24; cost controls boost profit

Samsung India Electronics’ sales growth slowed in 2023-24 despite the company crossing the Rs 1 lakh crore revenue mark, which industry executives said could have prompted lay-offs and belt tightening in the current fiscal year. Net profit of the local unit of the South Korean multinational, however, more than doubled to Rs 8,188 crore in FY24, a year when the market too had slowed down. This was driven by a reduction in expenses such as cost of materials consumed, purchases of stock in-trade. Samsung India Electronics' revenue grew by a mere 4% in FY24, reaching Rs 102,626 crore, marking its slowest growth in eight years. This slowdown, largely attributed to a stagnant smartphone market and heightened competition, is believed to be behind recent layoffs and cost-cutting measures.

Source: https://economictimes.indiatimes.com/, November 08, 2024

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Telecom

UK telecom company launches AI grandmother to talk to scammers and waste their time

Scammers, beware—there’s a new granny in town, and she’s not here to bake cookies but will talk about them endlessly if you meet her. Meet Daisy, the latest creation by UK telecom company O2. But Daisy isn’t your typical sweet grandma. She’s an AI-powered scambaiter designed to keep fraudsters on the phone as long as possible, chatting about her imaginary knitting projects or fake family drama. Her mission? To waste scammers’ time and protect real people from falling victim to fraud. Daisy is part of O2’s “Swerve the Scammers” campaign, a creative effort to fight back against the rising tide of scam calls. Daisy is no ordinary chatbot—she’s a highly advanced AI designed to hold lifelike, human-like conversations. She listens, processes, and responds in real-time, tricking scammers into believing they’re talking to a real person.

Source: By Ankita Chakravarti, https://www.indiatoday.in/, November 15, 2024

Chipmakers, telcos clash over 6GHz band for Wi-Fi 7 rollout

Chipmakers like Qualcomm are pushing the Indian government to delicense a portion of the 6GHz spectrum band to support the latest Wi-Fi 7 technology. However, telecom operators are mounting a pushback seeking for the band to remain licensed and available for cellular connectivity. As a result, the Department of Telecommunications (DoT) has been putting off its decision on delicensing the band with telecom operators, broadband providers as well as the Indian Space Research Organsation (ISRO) caught. Telecom operators argue it should remain licensed for cellular use. This disagreement has delayed the entry of Wi-Fi 7 devices in India. Despite this, manufacturers are launching Wi-Fi 7 products without 6GHz support, relying on existing 2.

Source: https://economictimes.indiatimes.com/, November 16, 2024

Reliance Asks Telecom Regulator To Review Reach Of Starlink, Amazon: Report

Billionaire Mukesh Ambani's Reliance has asked the telecom regulator to review the potential reach of Elon Musk's Starlink and Amazon's Kuiper before awarding satellite spectrum amid concerns local players could suffer, a letter showed on Friday. Reliance's letter, which is not public, is Mr Ambani's last-ditch effort in an ongoing face-off with Mr Musk over how India should grant spectrum for satellite services. While Reliance has called for an auction, India has sided with Mr Musk who - in line with global trends - wanted an administrative allocation. In the letter, reviewed by Reuters, Reliance said it carried about 15 billion gigabyte of data every month in India after spending about $23 billion on spectrum auctions over the years, but Starlink would target the same customers with a potential capacity of nearly 18 billion gigabyte of data via its satellites with a likely much lower outlay.

Source: https://www.ndtv.com/, November 15, 2024

 TOP

EV’s & Auto Electronics

Ola Electric Motorcycle Manufacturing to Begin Soon, Says CEO Bhavish Aggarwal

Following its August debut, Ola Electric’s Roadster motorcycle is nearing production, with CEO Bhavish Aggarwal sharing updates about the company’s progress. The flagship Roadster, along with three additional motorcycle models, represents Ola’s bold entry into India’s competitive electric motorcycle market. With production gearing up at its Futurefactory, Ola aims to make its Roadster line widely available and meet rising consumer demand in the  EV space. The Roadster motorcycles will be produced at Ola’s new Gigafactory, which is nearing operational status. The facility is expected to boost production significantly, enabling Ola to keep pace with demand while laying the groundwork for future expansion in the EV market. This factory represents a crucial element in Ola’s strategic growth, allowing for quicker scalability across its electric two-wheeler range.

Source: By Pranali Naik, https://e-vehicleinfo.com/, November 17, 2024

India Will Become A Major Electric Vehicle Producer Like China: Mark Mobius

India, which began its electric vehicle (EV) journey with two-wheelers, is set to become a “major producer" of electric vehicles like China in years to come, ace global investor Mark Mobius has said. The EV sales have seen a record surge under the PM E-DRIVE scheme, reflecting the growing momentum of EV adoption. Through initiatives like the Electric Mobility Promotion Scheme (EMPS) and the PM E-DRIVE schemes, electric two-wheelers (e-2W) sales surged to 5,71,411 units in 2024-25. During the same period, sales of electric three-wheelers (e-3W), including e-rickshaws and e-carts, reached 1,164 units, while electric three-wheelers in the L5 category hit 71, 501 units. Mobius told IANS that India is going to become a major producer of EVs sooner than expected. India started out with smaller EVs but it will eventually become a major producer of electric vehicles. Since the domestic market is so huge, India doesn't have to export electric vehicles. They can easily produce huge numbers to supply the local market.

Source: https://www.timesnownews.com/, November 14, 2024

What Trump's Presidency Could Mean for Tesla and Other Electric Vehicle Makers

Donald Trump's return to the White House has stoked optimism on Wall Street, where his business-friendly agenda is expected to juice economic growth and loosen regulations that nibble away at corporate profits. Electric vehicle makers, however, face a hazier outlook than most other businesses. Trump's rhetoric and campaign promises have put him squarely at odds with America's electric vehicle makers and the outgoing Biden administration, which expended ample effort to promote electrification. But the president-elect's close ties to Tesla (TSLA) CEO Elon Musk cast doubt on how thoroughly he will carry out his promises. Trump made his disdain for electric vehicles clear on the campaign trail. He said they were too expensive and insisted no one wanted to buy them because of their inadequate range. He called Biden-era electrification efforts part of “the Green New Scam,” a play on the “Green New Deal,” a set of policy proposals meant to address climate change. He’s said he would “end the electric vehicle mandate on day one,” referring to a recent vehicle emissions standards rule from the Environmental Protection Agency (EPA) that requires U.S. automakers to significantly lower their vehicles’ emissions over the next decade.

Source: Colin Laidley, https://www.investopedia.com/, November 13, 2024

PM E-DRIVE for electric vehicles enters fast lane

The ‘PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE)’ Scheme, recently approved by the Cabinet with a financial outlay of Rs. 10,900 crore, came into effect on October 1, 2024, and will remain in force until March 31, 2026. The primary goal of the scheme is to accelerate the adoption of electric vehicles (EVs), develop essential charging infrastructure, and establish a robust EV manufacturing ecosystem across the country. Under this scheme, electric vehicle sales have already seen a record surge, reflecting the growing momentum of EV adoption. The PM E-DRIVE initiative promotes mass mobility by supporting public transportation systems. The key objective is to speed up the transition to electric vehicles by offering upfront incentives for EV purchases and encouraging the development of charging infrastructure. The scheme seeks to reduce transportation-related environmental impacts and improve air quality while promoting an efficient and competitive EV manufacturing sector in line with the Aatmanirbhar Bharat initiative.

Source: https://www.thehansindia.com/, November 15, 2024

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Defence & Solar

India successfully flight-tests long-range hypersonic missile, enhances military prowess

In a significant leap for India’s military capabilities, the country successfully flight-tested its long-range hypersonic missile off the coast of Odisha, marking a historic moment for the nation. The missile, developed by the Defence Research and Development Organisation (DRDO), is designed to travel at speeds exceeding Mach 5 (over 1,220 km/h), enabling it to strike targets with extreme speed while evading most air defence systems. Defence Minister Rajnath Singh hailed the successful test as a “stupendous achievement” and a “historic moment” for India. Speaking on social media platform ‘X’, Singh expressed pride in the country’s accomplishment, stating that India has now joined an exclusive group of nations possessing such advanced military technology.

Source: https://www.financialexpress.com/, November 17, 2024

India Launches First-Ever Military Space Exercise

India’s Defence Space Agency has conducted its first-ever military space exercise, “Antariksha Abhyas 2024,” in New Delhi. The three-day exercise runs from November 11 to 13 to secure the South Asian giant’s national strategic objectives in space and integrate space capabilities among its military operations, as other nations have been boosting defenses in that domain. As space is “becoming increasingly congested, contested, competitive, and commercial,” the activity seeks to enhance understanding of space-based assets and services. It also aims to show how the different military branches rely on the space domain for operations and pinpoint vulnerabilities if access to space services is denied or disrupted. In addition, the government agency urged its military leaders to promote innovation and develop cutting-edge technologies together with the Defence Research and Development Organisation (DRDO), the Indian Space Research Organisation (ISRO), and academic institutions.

Source: By Christine Casimiro, https://thedefensepost.com/, November 16, 2024

India, Russia sign MoU to cooperate on Pantsir air defence systems

Russia’s main armaments export firm and an Indian state-run defence company have signed an agreement to cooperate on jointly developing variants of the Pantsir air defence missile and gun system, a move aimed at bolstering the country’s air defence capabilities. This is not the first time the Russian side has offered the Pantsir system, which combines missile and guns and is designed to defend small military, administrative and industrial facilities against aircraft and cruise missiles. It was a contender for an earlier Indian Army contract for self-propelled air defence systems that is yet to be finalised. Bharat Dynamics Limited (BDL), a leading state-run defence firm, said on a post on X on November 8 that it had signed a memorandum of understanding (MoU) with Rosoboronexport, Russia’s main weapons export agency, for “cooperation on Pantsir variants”. BDL did not provide details of the agreement.

Source: https://www.hindustantimes.com/, November 11, 2024

Prime Minister Modi's Nigeria Visit May Shore Up Defence Ties

Prime Minister Narendra Modi's visit to Nigeria on November 16-17, 2024, is poised to significantly enhance defence ties between India and Nigeria. This marks the first visit by an Indian Prime Minister to Nigeria in 17 years, reflecting a renewed commitment to strengthen bilateral relations across various sectors, particularly defense, trade, and cultural cooperation. The discussions are expected to center around enhancing security collaboration, especially in counter-terrorism efforts against groups like Boko Haram. India has previously provided military training and support to Nigeria, which includes the establishment of key defense institutions such as the National Defence Academy and the Naval War College. The two nations are exploring further defense cooperation, including potential arms sales and credit lines for military purchases.

Source: https://www.indiandefensenews.in/, November 17, 2024

TOP

MSME

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

U.P. an important base for country’s MSME sector today: CM

Inaugurating the U.P. pavilion at the International Trade Fair in New Delhi on Saturday, chief minister Yogi Adityanath said Uttar Pradesh was once considered a barrier to country’s development but today it is an important base for the nation’s MSME sector. Addressing a gathering there, he attacked previous governments saying Uttar Pradesh was earlier untouched by development. Confidence of investors has increased due to the improved law and order situation in the state. U.P. has received investment proposals worth up to ₹40 lakh crore. Adityanath further said the state government has been promoting one district one product (ODOP) on global platforms since 2018.

Source: https://www.hindustantimes.com/, November 16, 2024

Govt to decide soon on Rs 100 crore credit guarantee scheme for MSMEs: FM

Union Finance Minister Nirmala Sitharaman on Saturday said that the Rs 100 crore credit guarantee scheme for MSMEs which was announced in the budget this year will soon be placed before the Union Cabinet for approval. Highlighting the five announcements made in this budget for MSMEs she said, "the introduction of a special credit guarantee corpus to help MSMEs will be very helpful during the time of distress...." The Rs 100 crore credit guarantee scheme will soon be placed before the cabinet. Immediately after getting approval from cabinet, the scheme that will provide guarantee through MSME ministry and banks will be implemented. The grievance, which has been there for a very long time, is that the MSMEs can get working capital from banks but they don't get term loans, loans for plant and machinery. Now the guarantee will be provided under the scheme.

Source: https://www.business-standard.com/, November 09, 2024

Power ministry readies interest subvention scheme for MSMEs

The Union power ministry is likely to launch an interest subvention scheme for the micro, small, and medium enterprises (MSMEs) to help them deploy and promote energy-efficient technologies in businesses, according to sources. An interest subsidy of 5% to the small entities and 10% to the medium businesses will be rolled out under the scheme, the sources said. The proposed scheme is expected to provide financial assistance to industries under the Assistance in Deploying Energy Efficient Technologies in Industries & Establishment (ADEETIE) Scheme for adoption of energy efficient technologies. ADEETIE scheme is an online facilitation platform managed by the Bureau of Energy Efficiency aimed at encouraging and promoting financing for energy efficiency technologies.

Source: By Arunima Bharadwaj, https://www.financialexpress.com/, November 14, 2024

NITI Aayog’s WEP and Urban Company join hands to empower women led MSMEs in beauty and wellness sector

The Women Entrepreneurship Platform (WEP), under NITI Aayog, has launched a groundbreaking pilot program in partnership with Urban Company to empower women-led micro and small enterprises (MSMEs) in the beauty and wellness industry. This initiative aims to provide women entrepreneurs with the tools and support needed to grow their businesses and make them sustainable. As part of the pilot, 25 women entrepreneurs from Delhi-NCR, running small-scale or micro-businesses, will be selected through an open application process. They will receive specialised training across six critical areas: skilling, legal and compliance frameworks, access to finance, market strategies, business development, and mentorship. Networking opportunities will also be provided, equipping these women with the resources to scale their businesses.

Source: https://smefutures.com/, November 16, 2024

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ELCINA EVENTS , ACTIVITIES & SERVICES 

For more information, please contact:

Rajesh Rawat – 9911445890 / rajesh@elcina.com 

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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 

International Events
	Consumer Technology Association. ​7th -10th January 2025 LAS VEGAS, NV https://www.ces.tech/exhibitors.aspx
	XPONENTIAL Euope 18th-20th February 2025 Germany https://www.xponential-europe.com/
	Intelligent Asia 6th- 8th March 2025 Thailand https://www.chanchao.com.tw/IntelligentAsia-Thailand/en/
	Embedded world 2025 11th  – 13th March 2025 Nuremberg, Germany https://www.embedded-world.de/en
	International Battery Seminar & Exhibit 2024 17th -20th March 2025 Orlando, Orlando, USA https://www.internationalbatteryseminar.com/
	IPC APEX EXPO 18th-20th March 2025 Anaheim Convention Center https://www.ipcapexexpo.org/
	Appliance & Electronics World Expo 2024 20 - 23 Mar 2025 Shanghai New International Expo Centre(SNIEC), Shanghai, China https://en.awe.com.cn/
	The International Electronic Circuits 24th -26th March China http://www.cpcashow.com/en/information.asp
	CPCA Show 2025 24- 26 March 2025 http://www.cpcashow.com/en/index.asp

Domestic Events
	ELECTRONICS EXPO 12th -14th DEC 2024 CHENNAI https://shorturl.at/2VFcu
	EV Asia Expo 12th  – 14th February 2025 Gujarat https://www.evasia.in/
	ET Expo and Automotive Electronics & Testing Show 13th- 15th  February 2025 Pune https://et-automotive.com/
	14th Source India 18th-19th  February2025 Chennai https://event.sourceindia-electronics.com/
	16th ELECRAMA 2025 22nd- 26th February 2025 https://elecrama.com/
	Convergence Expo 19th- 21st 2025 March New Delhi https://www.convergenceindia.org/
	India Electronics Expo 2025 19th- 21st March 2025 Pragati Maidan Delhi https://www.indiaelectronicsexpo.com/

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