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24th
April, 2024, Vadodara, India
Matrix Selected for the Outstanding
MSME Excellence Award 2024
Federation of Gujarat Industries (FG)), Vadodara has
conferred the Outstanding MSME Excellence Award at the 18th
FGI Awards presentation ceremony. The objective behind the
institution of these awards is to recognize excellence in
economic, social, and scientific areas. The FGI believes
that through these awards, the industrial and social
achievements in Gujarat will be recognized publicly and
encourage others to contribute to the country's efforts of
globalization and economic development.
Established in 1991, Matrix stands as a leading provider of
Security and Telecom solutions tailored to the needs of
modern enterprises. Matrix is a proud member for ELCINA
delivering quality products to Indian security and
surveillance market. ELCINA Congratulates Matrix and Mr.
Ganesh Jivani for this milestone.
Sumer Mehra (L)
Executive Director of Matrix Comsec and Ganesh
Jivani, MD & CEO of Matrix Comsec (R) Receiving the FGI
Outstanding MSME Excellence Award 2024
Samsung way ahead of Its rivals in
local value addition
Apple has been upstaging Samsung in terms of revenue growth
and exports out of India, but the Korean major is still
significantly ahead of rivals in terms of local value
addition. This is partly because Samsung has been
manufacturing mobile phones as well as other appliances
locally in India much before the government's
production-linked incentive scheme came into force and
boosted India to become the second largest mobile phone
manufacturer. According to data from Counterpoint Research,
Samsung has localised high-ticket components such as the
display assembly and batteries, which contribute around
13.5% and 6% respectively to the bill of materials (BoM). It
has also localised printed circuit board assembly (PCBA),
passive and electro-mechanical components such as mechanics,
connectors and chargers, as well as packaging material for
the box, data accessed exclusively from the research firm
showed.
Source: https://economictimes.indiatimes.com/, April 25,
2024
TOP
INDUSTRY SCAN
General
India will emerge as one of biggest chip hubs in
next 5 years: Ashwini Vaishnav
Union Railways and IT Minister Ashwini Vaishnaw has recently
said the country will become one of the biggest
semiconductor hubs in the world in the next five years. The
minister commented while speaking to IANS. He also informed
that Prime Minister Narendra Modi will lay the foundation
for the further growth of the industry that will create
thousands of jobs. “There is a clear policy on bringing
state-of-the-art technologies to India -- be it Artificial
Intelligence, Electric Vehicles or semiconductors. Such
policies have been made so that the youth of the country can
get more employment options and domestic startups can
benefit,” Ashwini Vaishnaw said. The Union Minister
announced that four chip units were commissioned, and there
is complete preparation to release the first chip from
Micron's Sanand plant in December. Moreover, the plant that
is being set up in Assam will use the chips made there in
the world's biggest EVs, Ashwini Vaishnaw informed.
Source: https://www.indiatvnews.com/, April 24, 2024
India Holds Consultations On EV Policy
Guidelines Ahead Of Potential Tesla Entry
In a significant development aimed at advancing the electric
vehicle (EV) sector, the Indian government convened its
first consultative meeting with leading automobile
manufacturers, on Thursday. This comes ahead of a highly
anticipated visit by Tesla CEO Elon Musk this month,
reported IE. The discussions focused on formulating
guidelines to operationalise India's newly unveiled EV
policy, involving senior officials from the Ministry of
Heavy Industries and the Finance Ministry, as well as
executives from major automakers such as Tata Motors, Maruti
Suzuki, Mahindra & Mahindra, Volkswagen, Mercedes, and
Toyota. Notably, representatives from Tesla were also
present at the meeting, signalling the electric vehicle
pioneer's keen interest in the Indian market. Their
participation gains significance in light of the recent
policy amendments that allow manufacturers investing over
USD 500 million to import a limited number of fully-built
EVs at a concessional 15 per cent import duty rate.
Source: https://knnindia.co.in/, April 24, 2024
Nearly 50 FDI Proposals Stuck In
Limbo; DPIIT Urges Timely Action
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The Department for Promotion of Industry and Internal Trade
(DPIIT) has called on 17 government departments to expedite
decision-making on nearly 50 Foreign Direct Investment (FDI)
proposals that have exceeded the mandated 12-week approval
timeline. Around 46 FDI applications have crossed the
government's prescribed limit without receiving clearance,
reported BS, citing sources. Of those, 27 proposals have
undergone security vetting by the Ministry of Home Affairs
but still await a final decision from the respective
administrative ministries. In a letter to the departments,
the DPIIT emphasised the need to adhere to standard
operating procedures and timelines for processing FDI
proposals. The department specifically sought intervention
from the Department of Economic Affairs under the Ministry
of Finance to ensure time-bound approvals for the pending
applications.
Source: https://knnindia.co.in/news/, April 19, 2024
Tesla Power India & E-Ashwa Partner
For Fire-Safe Electric 2-Wheelers
In a groundbreaking move to elevate safety standards for
electric vehicles (EVs) across India, Tesla Power India Pvt.
Ltd. and E-Ashwa Automotive have forged a partnership to
introduce the country's first electric two-wheeler (2W)
equipped with a built-in fire suppressant system. The
collaboration encapsulates E-Ashwa's expertise in
manufacturing electric two-wheelers and three-wheelers with
Tesla Power India's prowess in energy storage solutions.
This synergy aims to deliver a safer and more sustainable
transportation option for Indian consumers. In a press
release, Tesla Power India highlighted its technical
contributions to the partnership, stating, “Together, the
companies aim to offer a safer and more sustainable option
for drivers across India. Also being India's first brand
offering both E-Rickshaw batteries and E-Rickshaws within
its diverse product range.”
Source: https://knnindia.co.in/, April 19, 2024
Taiwan eager to chip in to boost
India's semiconductor manufacturing: Ho
Taiwan is keen to collaborate with India and help it become
a leader in the semiconductor space, Jason Ho, Chairman of
the Taiwan Chamber of Commerce in India, said, asserting
that the Taiwanese companies have the supply chain for
things that the Indian market needs. Manufacturing
semiconductors – used in electric and hybrid cars, drones,
and communication devices – is fairly complicated, entails
huge investment, and can be a cumbersome process. Since
Taiwan has already established itself as one of the key
global chipmakers, collaboration with India in this space
can be a win-win for both sides. Taiwan already has enough
capacity for 28 nanometer (nm) chips, which is also India’s
focus area to cater to the needs of the telecom and
automobile sectors. “In the future, India need not invest
money in this space. While I agree with the Modi
government’s ‘Make in India’ programme, in a high-tech
industry like semiconductor, it may not work, and the focus
should be on collaboration,” he said.
Source: https://www.business-standard.com/, April 28, 2024
TOP
Information Technology
Continue co-op for
countering misuse of information tech by
terrorists: NSA
India will continue cooperation for countering misuse of
information and communication technologies by terrorists and
criminals, National Security Adviser Ajit Doval said on
Wednesday as he called for international cooperation for an
open, stable, secure, reliable and inclusive framework for
ensuring information security. Speaking at a plenary session
on Ensuring Information Security in the Polycentric World in
St Petersburg, Doval underscored India's policy to use
digital technology for inclusive economic development. Doval
emphasised that India shall continue cooperation for
countering misuse of information and communication
technologies by terrorists and criminals, as also for
countering terror funding. In that context, the UN
Convention on cybercrime will be an important initiative at
the international level, he said.
Source: https://www.business-standard.com/, April 24, 2024
WhatsApp vs Government | Why exiting
India threat bestirs ‘traceability’ debate
On April 25, WhatsApp told the Delhi High Court that it will
have to exit India if forced to comply with the Information
Technology (Intermediary Guidelines and Digital Media Ethics
Code) Rules, 2021, or IT Rules. The U.S.-based firm’s
counsel, Tejas Karia, told a Bench of Acting Chief Justice
Manmohan that compliance with the IT Rules will force the
company to break end-to-end encryption of messages. The
Meta-owned platform is challenging Rule 4(2), which
stipulates that any significant social media service must
enable a way to identify the first sender of the message
when an order to that effect is issued by a court or by a
competent authority.
Source: https://www.thehindu.com/, April 27, 2024
Indian govt to frame new AI law to
protect rights of news publishers, content creators: Report
Union Minister for Electronics and Information Technology,
Ashwini Vaishnaw, has disclosed that the government is
considering a new law on artificial intelligence (AI). The
proposed law aims to safeguard the interests of news
publishers and content creators, while also reducing user
harm, according to a report by The Economic Times. The law
could either be a standalone legislation or part of the
forthcoming Digital India Bill, which will supersede the
Information Technology Act of 2000. The minister emphasised
the need for respect for creativity in terms of intellectual
property and financial implications. He also suggested that
a legislative approach to regulation, rather than a
self-regulatory body, would be more effective. This follows
global demands for the protection of the rights of content
creators, with numerous lawsuits filed against tech giants
for using copyrighted content without compensation.
Source: https://www.businesstoday.in/, April 05, 2024
IT service companies stare at second
year of muted revenue growth at 5-7%: Crisil
The $250 billion information technology (IT) services sector
is likely to see a second consecutive year of sluggish
growth in fiscal year ending March 2025, with revenue seen
rising 5-7%, according to Crisil Ratings report. The subdued
outlook is attributed to continuing global macroeconomic
headwinds lead to modest increase in technology spends in
the key markets of the US and Europe. The FY25 growth
outlook follows a 12% compound annual growth over the decade
through fiscal 2024 and ~6% year-on-year (YoY) growth
expected for fiscal 2024, Crisil said. The overall IT
industry, which employs around 50 lakh direct employees, has
been going through a slowdown over the past 4-5 quarters.
For FY24, so far top three IT majors have reported subdued
revenue but stable margins. TCS led with revenue growth of
6.8% to $29 billion, followed by Infosys with $18.6 billion
growing at 4.7% while Wipro declined 0.8% with revenues at
$10.8 billion in constant currency terms.
Source: https://economictimes.indiatimes.com/, April 24,
2024
Google's Android 15 aims to prevent
screen sharing privacy risks with new feature: Report
Google's upcoming Android 15 could introduce a significant
new privacy feature designed to prevent unintentional leaks
of personal information during screen sharing, according to
a recent report. The feature, expected to debut in the
second half of 2024, aims to obscure sensitive content on
the screen, such as password fields or confidential
notifications, when screen sharing is activated. Users may
also have the option to disable these privacy measures if
needed. Android Police recently reported on a new toggle in
the Developer options menu of the latest Android 15 Beta 1.1
release labeled "Disable screen share protections." The
toggle’s description notes that it disables system
protections for "sensitive app content" during screen
sharing. However, this feature is currently inactive in the
latest Android 15 beta.
Source: https://www.livemint.com/, April 24, 2024
TOP
Consumer Electronics
RIL to boost homegrown
Wyzr brand in Indian consumer electronics market
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Reliance Industries Ltd (RIL) is finalising negotiations for
production agreements with domestic contract manufacturers
Dixon Technologies and Mirc Electronics, the parent company
of Onida, to expand its new brand Wyzr in the domestic
consumer electronics and home appliances market, the
Economic Times (ET) reported on Wednesday. The made-in-India
brand was launched in the financial year 2023-24 (FY24) and
has introduced a range of coolers. Along with its FY24
financial results on Monday, RIL announced plans to expand
to other categories. Mukesh Ambani-led RIL, through Wyzr,
aims to challenge the dominance of multinational
corporations in the local consumer electronics and home
appliances market. Reliance Retail, the retail arm of the
conglomerate, plans to expand the product range to include
televisions, washing machines, refrigerators, air
conditioners, small appliances, and LED bulbs. The company
aims to develop and design these products internally,
seeking to establish a homegrown brand in a market
predominantly controlled by foreign labels.
Source: https://www.business-standard.com/, April 24, 2024
Padget
Electronics signs agreement with Longcheer to manufacture
smartphones for global brands with latest technology
Dixon Technologies-owned subsidiary Padget Electronics has
entered into an agreement with China-based original design
manufacturer (ODM) Longcheer for manufacturing and sale of
smartphones for global brands with the latter’s design and
technology. Longcheer has approximately 28% share of the ODM
market at global level, the company said in an exchange
filing. China-based Longcheer has strong capabilities in
product-level solution design, hardware innovation design,
system-level software platform development, lean production,
supply chain integration, and quality control capabilities,
Dixon said. The company provides integrated smart product
services to global leading consumer electronics brands and
tech enterprises across multiple countries and regions with
global delivery capabilities.
Source: By Subhrojit Mallick, https://economictimes.indiatimes.com/,
April 19, 2024
Prices of discretionary products like
cars, TVs, phones begin to firm up
Prices of discretionary products such as cars, televisions
and smartphones have started to firm up with prices of
several commodities like copper and aluminum, components
such as memory chips and display panels, and a weakening
rupee has started taking a toll on the bottomline of the
manufacturers. Car manufacturers like Maruti Suzuki, Honda
Cars India, Toyota Kirloskar Motor and Kia India have just
raised vehicle prices, mostly on fast-moving models, by up
to 3% due to increase in commodity costs and adverse forex
movement. Other manufacturers are also evaluating such a
hike. In electronics, prices of new smartphones have
factored the single digit price increase in components such
as memory chips and display panels whereby prices of such
new launches might increase by 2-3% than originally planned,
said market tracker Counterpoint’s research director Tarun
Pathak.
Source: By Writankar Mukherjee & Sharmistha Mukherjee,
https://economictimes.indiatimes.com/, April 18, 2024
Hitachi Energy eyes expansion in India
amid rising power demand
Hitachi Energy is looking to open more global capability
centers in India to expand local operations, amid growing
energy demand and a push to scale up renewable energy
generation in the country. Zurich-based Hitachi Energy,
which makes transformers and large-scale power transmitters,
operates a GCC in the country, where high power demand has
led to the government ramping up generation, including in
renewable energy. The center could be in either or both
cities depending on the demand, he said, without giving
financial details of the investment. The new GCC - a
low-cost, offshore facility - will work alongside Hitachi
Energy India, but will be part of a separate non-listed
Indian entity of Hitachi Energy in Switzerland, Nuguri said.
Source: https://economictimes.indiatimes.com/, April 24,
2024
TOP
Telecom
Vodafone Idea Will Stage a
Smart Turnaround: Birla
Vodafone Idea (Vi), the third-largest telecom operator in
the country, recently concluded its FPO (follow-on public
offer) of Rs 18,000 crore. It is the largest FPO in the
country so far and was subscribed 7 times overall and about
19 times by institutional investors. Kumar Mangalam Birla,
Chairman of the Aditya Birla Group (ABG), said, that the
response to the FPO demonstrates the potential of the India
digital story and Vodafone Idea's role. Birla is also the
chairman of Vodafone Idea Limited (VIL). He thanked the
Indian government for coming up with a reform package that
addressed the liquidity issues as well as litigation issues
for the sector. The government of India accepted a stake in
the cash-strapped telco and reduced the interest dues
helping the company in reducing its overall debt. This
ensured that India remained a three-player market.
Source: By Tanay Singh Thakur, https://telecomtalk.info/,
April 27, 2024
India needs 3 strong telecom
companies: SBI Chairman Khara
State Bank of India Chairman Dinesh Kumar Khara on Thursday
said India needs three strong telecom companies to meet the
goals of the digital India. Speaking at the Vodafone Idea
FPO listing ceremony, Khara said, “I think it is not a small
recognition, it’s a big event and of course… the nation
needs at least three telecom operators, this was the wish
from the government of India, but I think all that could not
have happened, unless and until, Kumar Mangalam Birla would
have shown the way.” Vodafone raised Rs 18,000 crore from
the market earlier this week. The sector continues to
flourish and continues to be the backbone of digitalisation,
he said. Birla said the Aditya Birla Group has remained
committed to this sector for over two and a half decades
now. “Along with our partner, Vodafone Group, we have
cumulatively invested around Rs.170,000 crore in the Indian
telecom industry,” he said.
Source: https://indianexpress.com/, April 26, 2024
After US, India to sign 6G
co-operation agreement with European body
Bharat 6G and Industry Alliance 6G, a European industry body
of telecommunications companies, are set to form a
partnership that will pave way for cooperation in developing
6G technology, people aware of the matter told Mint. The
partnership could be in the form of a memorandum of
understanding, similar to the one Bharat 6G signed with the
US last September. One of the sources said Bharat 6G and
Industry Alliance 6G would sign an agreement soon. A second
person aware of the discussions said both sides were looking
to define the contours of the collaboration quickly, but the
actual agreements would be signed in the coming quarter.
Launched in 2023 by the department of telecommunications,
the Bharat 6G Alliance was set up to bring industry players,
academia and research organisations together to advance the
Bharat 6G mission.
Source: https://www.livemint.com/, April 28, 2024
Bulk deals: ATC Telecom offloads
entire stake in Vodafone Idea
ATC Telecom Infrastructure on April 26 sold its entire 2.87
percent stake in Vodafone Idea comprising 144 crore shares,
at an average price of Rs 12.78. The total value of the
shares sold by ATC stood at Rs 1840.32 crore. Notably, ATC
Infra had recently converted its debentures into equity.
Citigroup Global Markets Mauritius picked up 49.12 crore
shares at Rs 12.7 per share and later sold 98.74 lakh shares
at Rs 13.47 per share. This resulted in Citigroup Global
Markets Mauritius buying 0.73 percent stake. Shares of
Vodafone Idea fell 3.24 percent to Rs 13.45 on NSE. Vodafone
Idea raised Rs 18,000 crore in the largest-ever FPO in
India. The FPO shares were listed on the bourses on April
25. The company will spend Rs 12,750 crore from the fund
raising to expand their 4G network infrastructure and add 5G
capabilities to compete with rivals Reliance Jio and Bharti
Airtel who have already rolled out 5G network.
Source: https://www.moneycontrol.com/, April 26, 2024
Facing OTT heat, DTH operators seek
pricing freedom; urge Trai for telecom sector-like
forbearance
Facing competition from over-the-top channels,
direct-to-home (DTH) operators like Bharti Airtel, Tata
Play, Dish TV, and others are seeking a telecom sector-like
tariff forbearance to price their offerings. Tariff
forbearance is generally provided by regulators when it is
felt that competition is high and the industry has matured
in terms of pricing its offerings. Operators are free in
such cases to set tariffs without any prior approval from
the regulator, which in this case is the Telecom Regulatory
Authority of India. However, operators need to file their
tariffs within a week after implementation and if the
regulator feels that changes need to be made, directions are
issued. DTH operators feel that the broadcasting sector has
become highly competitive and also matured with the the
coming of OTTs, hence tight price regulation is not required
any more. In fact, forbearance will give them the required
flexibility to compete with OTTs.
Source: By Jatin Grover, https://www.financialexpress.com/,
April 26, 2024
TOP
EV’s & Auto Electronics
Why BYD's EV exports sell
for twice the China price
U.S. and European politicians have raised alarms that their
domestic auto industries could be destroyed by a wave of
cheap Chinese electric vehicles. But so far, China's top EV
maker, BYD, has dramatically hiked export prices compared to
what it charges at home rather than undercut foreign rivals.
The goal: to rake in hefty profit margins the automaker
can't get in China amid fierce competition. In some foreign
showrooms, BYD charges more than double - sometimes nearly
triple - the price it gets for three key models in China,
according to a Reuters review of the automaker's pricing in
five of its biggest export markets. Take the BYD Atto 3, a
compact electric crossover. In China, the midrange version
sells for $19,283. In Germany, the little SUV is priced at
$42,789 - a price that's still competitive with comparable
electric vehicles in that market.
Source: https://economictimes.indiatimes.com/, April 26,
2024
The world’s electric car fleet
continues to grow strongly, with 2024 sales set to reach 17
million
Despite near-term challenges in some markets, based on
today's policy settings, almost 1 in 3 cars on the roads in
China by 2030 is set to be electric, and almost 1 in 5 in
both United States and European Union. More than one in five
cars sold worldwide this year is expected to be electric,
with surging demand projected over the next decade set to
remake the global auto industry and significantly reduce oil
consumption for road transport, according to the new edition
of the IEA’s annual Global EV Outlook. The latest Outlook,
published today, finds that global electric car sales are
set to remain robust in 2024, reaching around 17 million by
the end of the year. In the first quarter, sales grew by
about 25% compared with the same period in 2023 – similar to
the growth rate seen in the same period a year earlier, but
from a larger base. The number of electric cars sold
globally in the first three months of this year is roughly
equivalent to the number sold in all of 2020.
Source: IEA PR, April 23, 2024
Chandigarh wait for powered-up
electric vehicle stations gets longer
The UT Administration is all set to miss the second deadline
to make electric vehicle (EV) charging stations functional.
During a press conference on March 8, Punjab Governor and UT
Administrator Banwarilal Purohit had stated that as many as
53 charging stations would be made functional by the end of
March. Later, the authorities had assured to make the
charging stations operational by the end of April. Now, they
have claimed that it would take another month to energise
them. As per officials of Chandigarh Renewable Energy and
Science and Technology Promotion Society (CREST),
electricity connections had been applied for 15 charging
stations and recently, approval was granted for seven to
eight stations. Now, the work of laying cables would be
started, they said, and added that power connections for 15
more charging stations had also been applied.
Source: https://www.tribuneindia.com/, April 27, 2024
Tesla among electric carmakers forced
to cut prices as market stalls
Elon Musk became the world’s richest man by evangelising
about electric cars – and delivering them by the million.
Yet in recent months his company, Tesla, has struggled to
maintain its momentum: sales have dropped this year, and so
has its share price. Those struggles have become emblematic
of a broader reckoning facing the electric vehicle (EV)
industry. After the soaring demand and valuations of the
coronavirus pandemic years, the pace of sales growth has
slowed. The industry has entered a new phase, with questions
over whether the switch from petrol and diesel to cleaner
electric is facing a troublesome stall or a temporary speed
bump. Musk acknowledged the difficulties this week, telling
investors: “The EV adoption rate globally is under pressure,
and a lot of other auto manufacturers are pulling back on
EVs and pursuing plug-in hybrids instead.” Musk, of course,
insisted that was the wrong decision.
Source: https://www.theguardian.com/, April 26, 2024
TOP
Defence & Solar
India looks beyond Russia for defense imports
The war in Ukraine has exposed the fabled prowess of Russian
weaponry as a myth and scared off its leading overseas
client. India — the world’s biggest arms importer — is
drastically reducing dependence on Russian weapons, and is
unlikely to make any new purchases from Russia. Earmarking
$100 billion for future procurement, this now leaves a
potential opening for Western arms manufacturers. Over the
last two decades, India spent $60 billion on weapons from
Russia, but according to the latest report from the
Stockholm International Peace Research Institute, the
imports have been steadily declining, going from 76 percent
in 2009–2013 to just 36 percent in the last five years — the
first five-year period since the 1960s in which Russian
defense exports “made up less than half of India’s arms
imports.” And according to Indian defense experts, the
Ukraine war is set to accelerate the drop.
Source: https://knnindia.co.in/, April 19, 2024
Defence Chief Urges DRDO For
Collaboration With Start-ups For Cutting-Edge Space
Solutions
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Chief of Defence Staff (CDS) General Anil Chauhan has
emphasised the need for the Defence Research and Development
Organisation (DRDO) to work closely with the Indian start-up
community and the domestic space industry. This initiative
aims to develop cutting-edge solutions that will help bridge
the technology gap between India and its adversaries in the
rapidly evolving domain of space warfare. Recognising space
as the new frontier of warfare, General Chauhan expressed
optimism that India will soon become a leading provider of
space-related services to other nations, highlighting the
potential for ‘space diplomacy’ to become a reality. General
Chauhan stressed the importance of the defence services and
the Ministry of Defence collaborating with the Indian space
industry to identify facilities for testing, validating, and
certifying space-related products. He underscored the need
to develop and update relevant doctrines to ensure the deep
integration of space and cyber elements at strategic,
operational, and tactical levels, as well as ensuring
interoperability with current and future equipment.
Source: By Anchal Vohra, https://www.politico.eu/, April 25,
2024
Defence news: India successfully tests
new version of medium-range ballistic missile
India on Tuesday successfully launched a new version of
Medium-Range Ballistic Missile capable of striking targets
at distances exceeding 250 km. “A successful launch of the
new variant of a Medium-Range Ballistic Missile was carried
out under the aegis of the Strategic Forces Command on April
23, 2024. The user launch has proven the operational
capability of the Command and validated new technologies."
The Defence Ministry in a release said the user launch has
proven the operational capability of the missile with new
technologies. The test firing was conducted under the aegis
of the strategic forces command, the release further added.
Meanwhile, news agency PTI reported that the new version of
Medium-Range Ballistic Missile is not from the 'Agni' family
of weapons systems.
Source: By Deepak Upadhyay, https://www.livemint.com/, April
23, 2024
Led By
LCA Tejas, India Spends ‘Highest Ever’ On Indigenous
Weapons; Overall Defense Spendings Painfully Low
India has overtaken Saudi Arabia to become the fourth
largest military spender, the top three being the United
States ($916 billion), China ($296 billion), and Russia
($109 billion), according to the latest survey released by
the Swedish think tank, the Stockholm International Peace
Research Institute (SIPRI). But is India spending enough on
its defense, given the deteriorating strategic environment
it is confronted with? If India’s military veterans and
analysts are to be believed, the answer is a big “No.” In a
report released on April 22, SIPRI said that India was the
fourth largest spender globally, with military expenditures
of $83.6 billion in 2023. Indian spending was up by 4.2
percent from 2022 and 44 percent from 2014. The increase in
India’s military spending was mainly due to growing
personnel and operations costs, which made up almost 80
percent of the total military budget in 2023. This aligned
with the government’s priority to strengthen the armed
forces’ operational readiness amid ongoing tensions with
China and Pakistan.
Source: By Prakash Nanda, https://www.eurasiantimes.com/,
April 26, 2024
Rampage missiles inducted by indian
air force, navy; boost to long-range precision strikes
In a major boost for firepower of its fighter aircraft
fleet, the Indian Air Force has inducted the Rampage
long-range supersonic air-to-ground missiles which can hit
targets at around 250 Km. The missile known as the
High-Speed Low Drag-Mark 2 missile in the Indian Air Force
was reportedly used in a big way by the Israeli Air Force
during its recent attacks on Iranian targets. The Indian Air
Force has inducted the Rampage in its Russian-origin
aircraft fleet including the Su-30 MKI and MiG-29 fighters
along with the Jaguar fighter jets, defence sources told ANI.
The Indian Navy has also inducted the missile in its fleet
for the MiG-29K naval fighter jets, they said. The stand-off
weapon will give Indian fighter pilots the option of
engaging and taking out targets like communication centres
or radar stations, the sources said.
Source: https://www.indiandefensenews.in/, April 28, 2024
No possibility of fully sustainable
space colony says isro chief s somanath
When Indian Space Research Organisation chairman S Somanath
threw the floor open for questions over Instagram on
Saturday, not only did people want to know about next
Chandrayaan, asteroid missions and space stations, but also
if ISRO can find water and if ISRO can teach 10-year-olds to
build nano satellite. But with only an hour earmarked for #asksomanathisro,
S Somanath could only answer a fraction of the questions
posted by aspiring scientists and space enthusiasts.
Questions on water on the moon and nano-satellite classes
for 10-year-olds have to wait till next session. S Somanath
chose questions aimed to encourage students and enthusiasts
to pursue careers in science and technology, even geology,
emphasising that ISRO offers diverse opportunities beyond
just astronaut roles. Answering a question on whether it
would be possible for humans to build a fully sustainable
space colony, ISRO chief said it is not likely in the near
future.
Source: https://www.indiandefensenews.in/, April 28, 2024
TOP
MSME
(Special section of the MSME related news under ELCINA Micro
& Small Industry Forum)
Income Tax Amendment Act
on cards on tax treatment of MSME dues
A change introduced last year in the Income Tax Act to help
small businesses receive timely payments might have had the
unexpected effect of putting off buyers of their goods and
services altogether. According to two people aware of
discussions in the government, the Centre may amend the Act
again in the full budget for FY25 in July. What is unclear,
though, is the exact change that could be made. One of the
two persons cited above said, “It is highly likely that
clause H of section 43B may be dropped." The second person
said it was too early to speak about the specific amendments
that may be brought out. Both people spoke on condition of
anonymity. In a bid to address liquidity issues of MSMEs
(micro, small and medium enterprises), Clause H was added in
section 43B of the Income Tax Act. Introduced in the Finance
Act 2023, the clause says payments to small businesses that
are delayed beyond a specified period can be claimed as an
expenditure (deduction from taxable income) only in the
financial year in which the payments are made, not in the
year when the liability to pay arose.
Source: https://www.livemint.com/, April 22, 2024
MSME exporters are worst hit due to
increased freight charges and doubled turnaround time.
The prolonged Russia-Ukraine and Iran-Israel conflicts
coupled with the economic instability in American and
European markets have had a crippling impact on the MSME
sector. Increased freight charges doubled turnaround time of
cargo and steep hikes in insurance premiums have forced
small and medium export oriented units to halve their
outputs with most presently operating at around 50% of their
respective capacities. Commenting on the challenges which
have emerged as a fallout of the geopolitical and economic
turmoil across the globe, Brij Mohan Sharma, Joint managing
Director, RSWM Limited, LNJ Bhilwara Group, a leading yarn
and knitting fabric manufacturer, said, “Due to the ongoing
crisis in Middle East and in Europe, exporters are facing
multiple problems that include the non-availability of
containers, multifold rise in freight charges and a steep
rise in the insurance premium of the cargo.”
Source: By Abhinay Kumar, https://www.financialexpress.com/,
April 25, 2024
Ministry devises scheme to link MSMEs
with industries
The Ministry of Cooperatives and Small and Medium
Enterprises (SMEs) is preparing a scheme to connect micro,
small, and medium enterprises (MSMEs) with industry players
to increase their competitiveness. Speaking at the
Integrated Business Center Service (PLUT) for Cooperatives
and Micro, Small, and Medium Enterprises (KUMKM) Summit here
on Friday, Cooperatives and SMEs Minister Teten Masduki said
that MSMEs and the industry sector are not yet connected. He
noted that in Indonesia, there are around 64 million MSMEs
that contribute to the national economy. As per records,
more than 90 percent of them are engaged in the creative
economy sector. Of the 17 sub-sectors of the creative
economy, three main sectors are driven by MSME players,
namely the culinary sector (41 percent), fashion (18
percent), and craft products (16 percent), Masduki informed.
Source: https://en.antaranews.com/, April 26, 2024
FISME Proposes Equity Fund To Ease
Financing Woes Of Struggling MSMEs
India's leading Micro, Small and Medium Enterprises (MSME)
body has proposed the establishment of a specialised
commercial bank and new legislation to improve access to
credit and address payment delays plaguing these businesses.
In its submission to the government, the Federation of
Indian Micro and Small & Medium Enterprises (FISME),
representing nearly 2 million MSMEs nationwide, called for
setting up a dedicated bank to streamline lending to the
sector. To facilitate broader capital raising options, FISME
proposed an equity guarantee fund to cover risks for
investors in the equity financing of these small businesses.
It noted that cash-strapped MSMEs with unhealthy balance
sheets find it difficult to raise funds through traditional
equity routes.
Source: https://knnindia.co.in/, April 27, 2024
Niti Aayog bats for easy financing,
e-commerce push to boost MSME exports
Niti Aayog has called for easing of access to export finance
and a concerted push to boost e-commerce exports to realise
the potential of the country’s micro, small, and medium
enterprises (MSMEs). In a report released on Wednesday, the
Aayog said small firms have encountered difficulties in
tapping into export markets due to the inherent obstacles
posed by economies of scale. "It proves more challenging for
small enterprises to enter foreign markets, adhere to
compliance requirements, achieve cost-effective production,
and efficiently manage logistics for clients," it added. As
part of six key recommendations, Niti Aayog called for
"green channel" clearances of MSME e-commerce exporters. It
said that India has not been able to tap into e-commerce to
work around market access barriers, unlike China. In 2022,
China’s e-commerce exports by MSMEs were worth $200 billion,
which is 100 times that of exports by Indian MSMEs.
Source: https://www.business-standard.com/, March 14, 2027
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.
|
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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
|
Domestic Events |
 |
4th Electronics Summit 2024
8-9 May, 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 Electron Summit
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
https://event.sourceindia-electronics.com/ |
|
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TOP
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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
Tel: 011-41615985,
41011291,
Website:
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