VOL XXIV, ISSUE 24

30 December 2023

        POLICY SCAN                                                                                    

Special Economic Zones (Fifth Amendment) Rules, 2023:  G.S.R. 881(E) dated December 6, 2023

The Ministry of Commerce and Industry, Department of Commerce, has enacted the Special Economic Zones (Fifth Amendment) Rules, 2023, effective upon publication in the Official Gazette (G.S.R. 881(E) dated December 6, 2023). The key features of the amendment include:

• Rule Introduction (Section 2):

• The rules, titled the "Special Economic Zones (Fifth Amendment) Rules, 2023," come into effect upon publication in the Official Gazette.

• Non-processing Areas for IT/ITES SEZs (Section 11B):

• Developers can request the demarcation of a non-processing area within an IT or ITES SEZ.

• Non-processing areas can accommodate businesses engaged in IT or ITES services under conditions specified by the Board of Approval.

• Repayment of Tax Benefits (Section 11B, Sub-rules 5-6):

• Developers are obligated to repay tax benefits linked to the non-processing area without interest.

• Area Requirements (Section 11B, Sub-rule 7):

• Demarcation of a non-processing area is subject to restrictions preventing a decrease in the processing area below specified thresholds, based on city categories.

• Limitations for Non-Processing Area Businesses (Section 11B, Sub-rules 8-9):

• Businesses in non-processing areas are restricted from availing rights or facilities available to SEZ Units.

The primary objective of this amendment is to facilitate the growth of IT zones. It achieves this by allowing demarcation of non-processing areas within IT or ITES SEZs, ensuring compliance with regulations related to tax benefits repayment, and maintaining a balance between area requirements and the incentives provided for Special Economic Zones.

Customs Notification No. 66/2023-Customs dated December 22, 2023

Notification No. 66/2023-Customs, issued on December 22, 2023, has introduced significant amendments to the Customs Act, 1962. The key changes are outlined as follows:

• Importer-Exporter Code (IEC) Requirements:

• The notification focuses on modifying Condition No. 2 in the Annexure of the previous notification.

• Changes are introduced to the Importer-Exporter Code (IEC) requirements, impacting entities such as banks, agencies, and qualified jewelers.

• Inclusion of Qualified Jewelers:

• Specific requirements for IEC are outlined for nominated agencies, including those notified by the Reserve Bank of India (RBI) and the Directorate General of Foreign Trade (DGFT).

• Qualified jewelers, as notified by the International Financial Services Centres Authority (IFSCA), are now included, introducing a new dimension to the regulations

Provision for Valid India UAE TRQ Holders:

• The amendment introduces a provision for Valid India UAE Tariff Rate Quota (TRQ) Holders, as notified by IFSCA through India International Bullion Exchange (IIBX).

• This provision allows flexibility in obtaining physical delivery of imports through IFSCA registered vaults located in Special Economic Zones (SEZs).

Exemption from Customs Rules:

• A crucial aspect of the amendments is the exemption from Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022, when the importer and the TRQ Holder are the same entity.

• This exemption streamlines processes and ensures efficiency for entities involved in import and trade.

These amendments demonstrate the Ministry of Finance's commitment to adapting regulations in response to evolving trade scenarios. The changes provide clarity on IEC requirements, extend eligibility to qualified jewelers, and offer practical solutions for TRQ Holders, reflecting a proactive approach to facilitating trade and ensuring regulatory coherence.

CBIC Notification No. 56/2023-Central Tax, dated 28th December 2023

The Central Board of Indirect Taxes and Customs (CBIC) has issued a notification, No. 56/2023-Central Tax, dated 28th December 2023, in exercise of the powers conferred by section 168A of the Central Goods and Services Tax Act, 2017. This notification partially modifies previous notifications, specifically No. 35/2020-Central Tax dated 3rd April 2020, No. 14/2021-Central Tax dated 1st May 2021, No. 13/2022-Central Tax dated 5th July 2022, and No. 09/2023-Central Tax dated 31st March 2023.

According to the new notification:

• The time limit specified under sub-section (10) of section 73 for issuing orders under sub-section (9) of section 73 of the Central Goods and Services Tax Act, 2017, is extended for the recovery of tax not paid or short paid or of input tax credit wrongly availed or utilized.

• The extension applies to the following periods:

• For the financial year 2018-19, the deadline is extended up to the 30th day of April 2024.

• For the financial year 2019-20, the deadline is extended up to the 31st day of August 2024.

 Notification No. 67/2023-Customs Dated: 29th December 2023

Notification No. 67/2023-Customs, dated 29th December 2023, issued by the Ministry of Finance, Department of Revenue, signifies a significant update under the powers conferred by the Customs Act, 1962. The amendment brings changes to the existing regulations outlined in Notification No. 96/2008-Customs. The key points of this amendment include:

New Country Addition:

• A new entry is incorporated into the Schedule after serial number 37.

• The "Democratic Republic of Congo" is introduced as the 38th country in the context of customs regulations.

Implications for Trade and Interactions:

• The addition of the Democratic Republic of Congo implies modifications to customs regulations governing trade and interactions with this country.

• Specific details about the nature of these modifications, such as import/export procedures, duty rates, or other relevant aspects, may be provided in the detailed text of the notification.

This update reflects the government's responsiveness to international trade dynamics and its commitment to adapting customs regulations to accommodate changes in diplomatic or trade relations. Stakeholders involved in trade with the Democratic Republic of Congo should carefully review the updated regulations to ensure compliance and to understand the implications on their import and export activities with this newly included country.

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  INDUSTRY  SCAN                                                                             

General

Huawei sales near $100 billion in year of semiconductor chip breakthroughs

Huawei Technologies Co.’s revenue surged 9% in 2023, capping a dramatic year for a Chinese technology powerhouse that challenged Apple Inc. and US sanctions with a surprise breakthrough in chip technology. Sales jumped to more than 700 billion yuan ($98.7 billion), their fastest pace of growth in years thanks to a resurgent smartphone business and robust 5G equipment sales. On a quarterly basis, revenue climbed 27% to at least 243.4 billion yuan, based on Bloomberg’s calculations off the annual figure. That’s a sharp acceleration from the third quarter’s slight rise. Huawei made a splash in 2023 after releasing a smartphone with a sophisticated made-in-China 7-nanometer Kirin processor, celebrated across the country over US restrictions intended to hobble the country’s tech industry.

Source: https://www.business-standard.com/, December 29, 2023

Samsung is developing “smart sensor system” to improve semiconductor yield and production capacity

According to ETNews, Samsung Electronics is working on a “smart sensor system” to control and manage semiconductor processes. This system is expected to increase semiconductor yield and improve productivity. The smart sensor system is designed to monitor and analyze the production process in real-time. It can detect any issues that may arise and provide solutions to improve yield and production capacity. Samsung plans to gradually expand the development and application scope of smart sensors. Semiconductor yield is regarded as the single most important factor in controlling wafer processing waste generation, environmental and financial sustainability, time to market, and costs.

Source: https://www.gizchina.com/, December 26, 2023

Toyota, Honda, Nissan Join Hands To Develop Automotive-Use Semiconductors

The top 12 Japanese automotive manufacturers and component players have formed a joint venture that will collectively work on producing System on Chip (SoC)  semiconductors for automotive applications. The companies formed ‘Advanced SoC Research for Automotive’ (ASRA) on December 1, 2023, to research and develop high-performance digital semiconductors for use in automobiles. The alliance says that about 1,000 semiconductors are used in each vehicle and the types vary depending on the application. Out of these, the SoC semiconductors are the most essential for autonomous driving technology and multimedia systems vehicles, which require advanced semiconductor technology to achieve advanced computing power.

Source: https://www.carandbike.com/, December 29, 2023

Global Semiconductor Market To Recover With an Annual Growth Rate of 20% in 2024, Says Analysts

The global market intelligence firm IDC has now revealed that with the global demand for artificial intelligence (AI) and high-performance computing (HPC) exploding, coupled with the stabilizing demand for smartphones, personal computers, infrastructure, and resilient growth in automotive; the semiconductor industry is expected to usher in a new wave of growth. Semiconductor products cover logic integrated circuits (IC), analog IC, microprocessor and microcontroller IC, and memories. The supply chain inventory depletion process continues due to weak market demand. Although there are some sporadic short orders and rush orders in the second half of 2023, it is still difficult to reverse the first half annual decline of 20%, thus, the semiconductor sales market is expected to still decline by 12% in 2023.

Source: IDC PR

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Information Technology

Minister slams report claiming Centre urged Apple to soften impact of iPhone hacking alerts

Union minister Rajeev Chandrasekhar on Thursday lambasted a US daily's report that claimed Indian authorities had asked Apple to help soften the political impact of the latter's hacking alert, saying the newspaper had omitted the technology company's response that the notification could be a case of "false alarm". The BJP MP said the report was "half facts, fully embellished". Rajeev Chandrasekhar said it was for Apple to explain if their mobile phones were vulnerable and what triggered the alert. He said Apple had been asked to join a probe by the authorities over the alerts and several meetings had been held.

Source: https://www.hindustantimes.com/i, December 28, 2023

2023 a Year of Data Privacy Becoming Front and Centre in India

2023 was a year of data security and privacy taking centre-stage in India. The introduction of the Digital Personal Data Protection Act 2023 marked a significant milestone in India’s data privacy journey, paving the way for stronger regulations and improved data protection practices across various industries. Reach ISO, ISO consultation experts, shared highlights of 2023 for the Indian data security and privacy landscape. From understanding the nuances of relevant ISO certification, the difference between GDPR & ISO 27701 and the impact of the DPDP Act – 2023 was an action-packed year. In 2023 Reach ISO advised Fin-techs and SAAS organisations on most relevant ISO certification for them, how to apply and receive the certification.

Source: https://indiatechnologynews.in/, December 28, 2023

Five focus areas for India in tech this year

As 2023 winds up, technologists worldwide are focusing on what’s in store for 2024. The coming year will see a renewed emphasis on five areas where work has already begun; industry stakeholders echo that 2024 will be the year when generative AI begins to mature. However, new areas and avenues will also start shaping how tech sectors are defined going ahead, leading to new opportunities for enterprises and vendor partners. At the forefront of all tech trends is artificial intelligence (AI), and its subset, generative AI, or gen AI, was where all the focus was in 2023. Come 2024, most conversations are likely to be based on realizing real-world, practical use cases of gen AI.

Source: By Shouvik Das, https://www.livemint.com/, December 26, 2023

CST Uttar Pradesh Summer Research Fellowship Program

Council of Science & Technology, Uttar Pradesh (CSTUP) has invited applications for the Summer Research Fellowships for two months. CSTUP offers the fellowship to encourage 1st & 2nd year M.Sc. students studying basic sciences only to work with renowned Professors/Scientists from premier institutes of India. Selected students are given a monthly stipend of Rs .25000/- for two months. Research Areas include Physics (Materials Science, Electronics, Astronomy etc.); Biology (Botany, Zoology, Environmental Science, etc.); Chemistry (OOrganic, Inorganic, Physical, Industrial, Medicinal etc.); Agriculture (Plant Pathology, Horticulture, Entomology etc.); Mathematics/Statistics.

Source: https://english.mathrubhumi.com/, December 29, 2023

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Telecom

HFCL to tap North America for exporting telecom products, plans to set up a new  unit in NCR

Homegrown telecom equipment maker HFCL plans to tap North America for exporting its telecom products. The company also plans to set up a manufacturing unit in Delhi NCR. It will invest Rs 100 crore for the manufacturing of 5G FWA (fixed wireless access) devices. They are investing almost Rs 500 crore in the fibre capacity expansion, while the investment in the R&D (research and development) for telecom products is around Rs 200 crore every year. And for the manufacturing facility additional investment of Rs 100 crore will be done, he said.

Source: By Mansi Taneja, https://telecom.economictimes.indiatimes.com/, December 29, 2023

Reliance Jio to launch Bharat GPT

Reliance Jio Infocomm, India’s largest telecom service provider, is working with the Indian Institute of Technology Bombay to launch ‘Bharat GPT’, a large language model specifically tailor for India’s needs, said chairman Akaash Ambani. Speaking at the annual IIT Bombay TechFest, Ambani said the company is also “comprehensively thinking” to launch an operating system for smart TVs. Ambani further outlined Jio's ambitious AI plans, aiming to integrate it "not only as a vertical inside our organization, but also horizontally across all our sectors." This includes launching AI-powered products and services in media, commerce, communication, and even devices.

Source: https://telecom.economictimes.indiatimes.com/, December 27, 2023

Indian Telcos Ask Govt to Auction Spectrum for D2M Broadcasting

Indian telecom operators have requested the government to auction the spectrum for D2M (direct-to-mobile) broadcasting services. The government is considering using D2M to deliver TV content directly to the users' phones without using data. Currently, if you want to watch live TV content or any video online on your smartphone, you need a mobile data connection. With the D2M technology, the broadcasting directly happens to the device and thus no data connection is required. The telcos have asked the government to auction the spectrum that will be used for D2M instead of allocating it administratively. The spectrum band that is being considered for the D2M service is 526-582 MHz.

Source: https://telecomtalk.info/, December 27, 2023

Telecommunications Bill 2023 Gets President’s Assent: Report

The Telecommunications Bill of 2023, recently passed by Parliament, has received the President's assent, according to a PTI report. Widely hailed by industry bodies, telecom companies, and various organisations, as reported by TelecomTalk, the Telecom Bill of 2023 brings significant changes to India's century-old telecom law. The legislation was cleared by the Lok Sabha on December 20, and by Rajya Sabha on December 21. The new legislation is designed to create a more investor-friendly environment while upholding user protection. "The following Act of Parliament received the assent of the President on the 24th December, 2023 and is hereby published for general information...," the report quoted a gazette notification.

Source: https://telecomtalk.info/, December 27, 2023

India telecom companies have huge headroom for tariff hikes - ICICI Securities

India telecom tariffs are most affordable and telecom companies have huge headroom for tariff hikes - ICICI Securities. India’s consumers still enjoy maximum benefits relative to comparable economies despite large tariff increases in past few years, brokerage says. India telecom players can increase tariffs by ~1.5x over the next 4-5 years provided reasonable competitive intensity - ICICI Securities.  Shares of Vodafone Idea VODA.NS up 18.1%, Bharti Airtel BRTI.NS down 0.3% and Reliance Jio parent Reliance Industries RELI.NS down 0.7%. VODA shares have nearly doubled YTD, while BRTI is up 28% and RELI up ~ 12%.

Source: https://www.xm.com/, December 29, 2023

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EV’s & Auto Electronics

Tata Motors, Mahindra betting big on electric SUVs to take on rivals like Tesla

Tata Motors and Mahindra & Mahindra (M&M), two of India’s largest car manufacturers, are gearing up for a series of electric SUVs (sport-utility vehicles) across many price segments in the coming quarters, in order to tap the common SUV theme as they prepare to take on competition from foreign competitors, like Tesla, which are expected to hit Indian roads soon. Both Tata Motors and Mahindra plan to launch popular SUV models in brand new electric avatars. SUVs are the fastest-growing segment in India, driven by factors like increased disposable incomes, spaciousness, and perceived safety.

Source: https://www.moneycontrol.com/, December 29, 2023

EV industry set to end its best sales year in spite of subsidy cuts

Electric vehicle (EV) sales this year have witnessed a robust increase of over 45 per cent so far, notwithstanding the subsidy cuts and regulatory shifts. Total EV registration figure in 2023 is just shy of 1.5 million units, significantly higher than last year’s score of a little over 1 million. All this has pushed the overall EV penetration in the country beyond 5 per cent – to 6.3 per cent against 4.8 per cent in 2022. This year was marked by a reduction in subsidies for electric two-wheelers (e2Ws), a category that makes up around 55 per cent of total. This year marked a reduction in subsidies for electric two-wheelers (e2W), a category that constitutes around 55% of the overall EV sales.

Source: https://www.business-standard.com/, December 27, 2023

The first EV with a lithium-free sodium battery hits the road in January

JAC Motors, a Volkswagen-backed Chinese automaker, is set to launch the first mass-produced electric vehicle (EV) with a sodium-ion battery through its new Yiwei brand. Although sodium-ion battery tech has a lower density (and is less mature) than lithium-ion, its lower costs, more abundant supplies and superior cold-weather performance could help accelerate mass EV adoption. CarNewsChina reports that the JAC Yiwei EV hatchback deliveries will begin in January. Yiwei is a new brand in 2023 for JAC. Volkswagen has a 75 percent stake in (and management control of) JAC and owns 50 percent of JAC’s parent company, Anhui Jianghuai Automobile Group Holdings (JAG).

Source: https://www.engadget.com/, December 28, 2023

Chinese smartphone giant Xiaomi unveils first electric car

Chinese consumer electronics giant Xiaomi unveiled its first electric car model on Thursday, with its boss declaring ambitions of becoming a global automotive powerhouse despite fierce competition at home. Beijing-based Xiaomi, which is the world's fourth-largest smartphone manufacturer, is also a leading provider of tablets, smartwatches, headphones, and electric scooters. In 2021, the company announced its intended foray into electric vehicles, joining a trend that has seen several major Chinese tech companies pivot towards the highly competitive sector.

Source: https://www.thehindu.com/, December 28, 2023

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Defence & Solar

Russia, India discuss joint production of weapons amid Ukraine war

India’s foreign minister met Wednesday with Russian President Vladimir Putin, who said relations between the countries are progressing even amid turbulent times. Subrahmanyam Jaishankar’s meeting was part of a five-day visit. At the start of the meeting, Putin said he would inform the Indian diplomat about the fighting in Ukraine, on which Indian Prime Minister Narendra Modi has held a neutral stance. India is increasingly important to Russia as a market for oil exports, the backbone of its economy, as Western sanctions curtail oil shipments.

Source: https://www.defensenews.com/, December 28, 2023

2023 defence wrap: US supports India's defence modernisation plans

To maintain deterrence in the Indo-Pacific and assist India in bolstering its defence modernisation plans, the United States is deploying cutting-edge military capabilities to its allies. Calling 2023 a 'decisive year', the US Department of Defence, in an official release has stated that it is supporting allies and partners as they invest in their capabilities. Under the US-India Defence Industrial Cooperation, both nations will co-produce fighter jet engines and Stryker armoured vehicles, as well as launch the India-US Defence Acceleration Ecosystem (INDUS-X) to promote partnerships between US and Indian researchers, entrepreneurs, and investors.

Source: https://www.business-standard.com/, December 28, 2023

Nuclear based engines to power future interplanetary missions of ISRO

According to a December 29, 2023 article in the Times of India, India's nuclear sector will power future Indian space missions through nuclear propulsion. The article says that ISRO chairman S Somanath announced plans to collaborate with the department of atomic energy. The article also mentions that the radioisotope heating units in Chandrayaan-3's propulsion module worked well, which generated enthusiasm. A nuclear rocket engine uses a fission reactor to create high temperatures. The engine then transfers this heat to a liquid propellant, which is expanded and exhausted through a nozzle to propel the spacecraft. Nuclear thermal rockets work similarly to chemical rockets.

Source: https://www.indiandefensenews.in/, December 29, 2023

India and france to celebrate 25 years of military ties with macron visit

French President Emmanuel Macron will preside over India’s Republic Day celebrations next month to cap the 25th anniversary of strategic military ties worth billions of euros for France's arms industry. Delhi's invitation to the French president came after US leader Joe Biden declined an offer to be the guest of honour at the 26 January parade. Macron will become the sixth French leader to attend the annual military extravaganza since 1976. Indian Prime Minister Narendra Modi is returning the honour after Macron invited him to attend France’s traditional military parade on Bastille Day on 14 July.

Source: Source: https://www.indiandefensenews.in/, December 29, 2023

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Consumer Electronics

CEAMA pitches for rationalization in GST on energy-efficient products, industry projected to grow to ₹1.5 lakh cr by 2025

The Consumer Electronics and Appliances Manufacturers Association (CEAMA) has been pitching for rationalization of GST for energy-efficient appliances in order to grow their adoption and provide a boost to the industry. The industry body believes that the consumer durables industry is poised to see strong growth in the coming years on the back of low penetration levels and growing aspirations of consumers. The appliances and consumer electronics industry is projected to grow to about ₹1.5 lakh crore by 2025. The appliance and consumer electronics segment is expected to end 2023 at close to ₹ 1 lakh crore. It has been projected that the industry will grow to about ₹1.48 lakh crore by 2025 (IBEF report) The penetration levels in most categories are still low.

Source: BY MEENAKSHI VERMA AMBWANI, https://www.thehindubusinessline.com/, December 07, 2023

Premium products, investments to drive consumer electronics in 2024

India’s appliances and consumer electronics industry is expected to grow by about 10% in 2024 as players offer more premium products, cater to rising demand for smart appliances and make more investments after significant business tailwinds this year. Consumers are now looking for a “better total cost ownership” of products leading to a rise in demand for smart appliances, inverter ACs, heavy top-load washing machines, double-door frost-free refrigerators having more than 300-litre capacity and large screen 4K LEDs, in which 51 inches screen is seeing the fastest growth in terms of sales, industry leaders said.

Source: https://www.thehindu.com/, December 27, 2023

CES 2024: What we’re expecting

More than anything, CES is a chance to plant a flag. Consumer electronics’ massive trade show is strategically positioned within the first week of the year. All the holiday tech has been purchased, opened and used or returned. It’s all a distant memory for tech companies looking to assert themselves as leading innovators for the coming year. More than anything, 2024 is going to be the year of generative AI claims for hardware products. Some will be genuinely impressive — I anticipate some amazing GenAI-leveraging robotics breakthroughs over the coming year. Invariably, however, most of it will be marketing bullshit. It’s our job as reporters to determine which is which.

Source: https://techcrunch.com/, December 29, 2023

AI integration in everyday life: How artificial intelligence is reshaping consumer electronics

In the fast-paced world of technological advancement, Artificial Intelligence (AI) has emerged as a transformative force, reshaping the landscape of consumer electronics and revolutionizing the way we interact with our devices on a daily basis. From personalized recommendations to smart home automation, AI integration is enhancing user experiences across the board. Enhanced User Experience through Virtual Assistants: One of the most noticeable impacts of AI in consumer electronics is the integration of virtual assistants like Siri, Alexa, and Google Assistant. These AI-powered companions have made it incredibly convenient to control various devices through simple voice commands.

Source: https://www.financialexpress.com/, December 16, 2023

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EMSIF

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

DGFT Inks Deals with Global E-commerce Giants to Train MSMEs

The Directorate General of Foreign Trade (DGFT), an arm of the Ministry of Commerce, is set to sign agreements with various global online platforms, including Walmart, in the coming weeks to provide training to micro, small, and medium enterprises (MSMEs) in identified districts across India. This initiative aims to enhance the capacity of MSMEs in leveraging e-commerce platforms for export promotion. The capacity-building sessions will cover a range of topics, including imaging and digital cataloguing of products, tax advisory, and hands-on demonstrations of e-commerce export processes.This training will empower MSMEs to effectively showcase their products on online platforms and navigate the complexities of e-commerce exports.

Source: Vasant Shah, https://www.goodreturns.in/, December 28, 2023

Banks’ MSME portfolio quality improves further as GNPAs drop below 5% in Sept: RBI report

The quality of the MSME portfolio of scheduled commercial banks (SCBs) has further improved in the first half of the current financial year, said the latest Financial Stability Report by the Reserve Bank of India (RBI) released on Thursday. The MSME gross non-performing assets (GNPA) declined to 4.7 per cent in September 2023 from 6.8 per cent in March 2023 and 7.7 per cent in September 2022. In March 2022, the GNPA ratio was 9.3 per cent. SMA-2 (special mention accounts), however, rose slightly to 1.7 per cent in September 2023 from 0.9 per cent in March 2023. The accounts wherein the borrower is unable to repay the loan amount for over 60 days and up to 90 days are classified as SMA-2.

Source: https://www.financialexpress.com/, December 29, 2023

E-commerce can be bridge between MSMEs and global market: Piyush Goyal

Commerce minister Piyush Goyal on Thursday said the government is taking a slew of measures to facilitate Indian micro, small and medium enterprises (MSMEs) to reach global markets directly through e-commerce by extending duty remission to them, relaxing payment terms, raising consignment cap, setting up export facilitating post-offices across the country, creating e-exports zones and roping in online marketplaces such as Amazon to handhold them at the district-level. The new trade policy is effective from April 1, 2023. MSMEs contribute about 30% of the country’s GDP and 40% of its manufacturing.

Source: ByRajeev Jayaswal, https://www.hindustantimes.com/, December 28, 2023

Key changes related to GST for MSMEs in 2023

The Economic Survey of 2022-23 highlighted the recovery of Micro, Small, and Medium Enterprises (MSMEs) after the pandemic. In FY21, GST paid by MSMEs had declined, but by FY22, it surpassed the pre-pandemic levels of FY20. This resurgence, reaching around Rs 5.5 lakh crore in FY22, showcases the financial resilience of small businesses, attributed to government interventions targeted at MSMEs. The MSME sector’s recovery from the pandemic-induced shock is evident in the rising trend of GST payments, as reported in the survey. Jocata, a financial advisory and technology company, recently announced a partnership with SIDBI to introduce the MSME Economic Activity Index – Sumpoorn. This index is a relative amplitude-adjusted composite diffusion index developed using consent-led and anonymized monthly sales data from over 50,000 MSMEs seeking credit.

Source: https://www.taxscan.in/, December 27, 2023

Govt Promoting India As Global Mice Destination To Showcase Indian MSMEs: Goyal

The government is promoting India as a global meetings, incentives, conferences and exhibitions (Mice) destination to showcase India’s micro, small and medium enterprises (MSME) sector, traditional handicrafts, artisanal offerings, weavers and manufacturing prowess: said Union Commerce Piyush Goyal. While addressing a media interaction, he said that an array of game-changing initiatives are being undertaken to emphasize India's global footprint and bolster its economic engagement with the world. Goyal emphasised the scale, size, and ambition of these exhibitions, underscoring India's monumental revolution in its global engagement.

Source: https://www.businessworld.in/, December 29, 2023

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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 2022-23 Description ELCINA Directory of Indian Electronics Industry – includes the updates on Indian Electronics Industry and a host of additional improved features covering business environment, statistical industry scan, company databases plus various projections. This handy compendium with its easy-to-read format attracts the attention of a growing number of users (within India and abroad) Apart from electronics industry, the users of this Directory range from financial institutions, commercial banks, FIIs, Consultancy organizations as well as industry promotion institutes across the world….

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FORTHCOMING EVENTS &  GENERAL INFORMATION 

	Consumer Technology Association. JAN 9-12, 2024 LAS VEGAS, NV https://www.ces.tech/about-ces.aspx
	Hong Kong Electronics Fair 2024 13-16 Apr 2024 - Physical     Fair 6-23 Apr 2024 - Click2Match (Online)  13 Mar-12 May 2024 - hktdc.com Sourcing  Hong Kong Convention and Exhibition Centre               https://www.hktdc.com/event/hkelectronicsfairse
	China (Guzhen) International Lighting Fair 2024 MESSE FRANKFURT 9-12 JUNE,2024 Guzhen Convention and Exhibition Center, Zhongshan, CHINA https://guangzhou-international-lighting-exhibition.hk.messefrankfurt.com/guangzhou/en.html
	Appliance & Electronics World Expo 2024 14 - 17 Mar 2024 Shanghai New International Expo Centre(SNIEC), Shanghai, China https://www.awe.com.cn/
	Wire Dusseldorf 2024      Messe Düsseldorf GmbH 15 - 19 Apr 2024 Messe Düsseldorf,Am Staad, Düsseldorf, D-40474 Germany https://www.wire-tradefair.com/
	International Battery Seminar & Exhibit 2024  12 - 15 Mar 2024 Loews Royal Pacific Resort at Universal Orlando, Orlando, USA  https://www.internationalbatteryseminar.com/
	Automotive World Korea 2024 24 - 26 Apr 2024 COEX, Seoul, South Korea  https://www.automotiveworld.kr/
	Seoul International Electric Fair & Power Generation Korea 2024 03 - 05 Apr 2024 Coex Halls A & B, Seoul, South Korea https://sief.co.kr/fairDash.do?hl=ENG
	SOURCE INDIA EVENT ELCINA 23-24Th JANUARY, 2024 Chennai Trade Centre, Chennai, TN https://event.sourceindia-electronics.com/
	Electronics for You Expo 2024 INDIA ELECTRONICS WEEK 31st-2nd FEB,2024 KTPO, WHITEFIELD, BENGLURU,INDIA https://www.indiaelectronicsweek.com/?
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