VOL XXIV, ISSUE 16

31 August 2023

Top Stories Policy Scan

Industry Scan

ELCINA Update Upcoming Events

 

Top  Stories                                                                             

 

Electronics sector to tap $7 billion untapped revenue via circular economy by 2035

 

India's electronics sector is set to harness $7 billion untapped revenue by 2035 via circular business model and policy pathways, industry stakeholders said here on Monday. Current commitments and targets set the projected market size for these circular models at $13 billion in 2035. Yet, the total addressable market, achievable through the right public and private actions, can reach an astounding $20 billion, revealing an untapped potential of 35 per cent. Alkesh Kumar Sharma, Secretary, MeitY, said that embracing the circular economy and sustainable growth is pivotal as India's resource consumption is surging.

 

Source: https://www.zeebiz.com/, August 28, 2023

 

Satendra Singh Appointed CEO Of Syrma SGS

 

Syrma SGS Technology Limited (Syrma SGS) has appointed Satendra Singh as its Chief Executive Officer. Based in Gurugram, Haryana, the company offers ODM and EMS capabilities to OEMS. Having started his professional innings with Tektronix / Ministry of IT / C – DOT as Scientist, Singh has previously also been associated with Samsung India, Schneider Electric, Orion Electronics Kft, Flextronics Technologies India, and Nokia. He has led hardware delivery and manufacturing teams at some of these organisations. The news of his appointment as CEO of Syrma SGS comes at a time when India has launched a number of Production Linked Incentive Schemes (PLIs) around electronics manufacturing.

 

Source: https://www.electronicsb2b.com/, August 29, 2023

 

Ministry In Debt Of EV OEMs Says SMEV

 

Responding to reports that the Ministry has coerced an OEM to refund past subsidies, the Society of Manufacturers of Electric Vehicles (SMEV), has sought clarifications from the Ministry about its claim for refund of subsidies from some OEMs who it claims did not comply with PMP norms during a later period. Pointing out that the basis for refund would only mean that the processing of subsidies and the official reimbursement was done faultily, it has asked for the Ministry to clarify if it intends to thus cancel all subsidy claims during this period for all OEMs. The letter also seeks to question the legal basis for the refund amounts since they do not conform to any stated mechanism in the rules.

 

Source: https://www.electronicsb2b.com/, August 28, 2023

 

Can India sustain electronics sector's spark?

 

As one of the largest markets in the world, India was on the radar of several global electronics giants for years. It was the massive disruptions in the global supply chain due to strict lockdown measures in China induced by the Covid-19 pandemic that acclerated this focus in India. The first signs of the change came from Apple Inc — which began assembling the flagship iPhone 11 model in July 2020. Just a few months into the pandemic, its supplier Foxconn started this process for the first time in India at its factory in Sriperumbudur, Tamil Nadu.

 

Source: https://www.deccanherald.com/, August 27, 2023

 

Opportunity for India in semiconductor fabs if it invests in facility & equipment: ICANN CIO Ashwin Rangan

 

India possesses tremendous scientific talent for technology growth. Yet, we haven’t been able to emerge as a semiconductor Technology leader; IP ownership in cutting edge technology still evades India in most segments. Ashwin Rangan, Senior VP of Engineering and Chief Information and Innovation Officer, ICANN (Internet Corporation for Assigned Names and Numbers) who was conferred the prestigious 2022 SoCal CIO of the Year ORBIE Award in US recently, is consulted by many countries and corporates, for technology strategy. In this interview, he sheds light on emerging technologies, the complexities of semiconductor manufacturing, and India’s strengths and weaknesses.

 

Source: https://www.hindustantimes.com/, August 29, 2023

 

TOP

 

  POLICY SCAN                                                                                    

 

Govt considering inclusion of EVs in priority sector, to help funding access

 

The government in consultation with the Reserve Bank of India (RBI) is considering a proposal to include electric vehicles (EVs) in the priority-sector lending (PSL) category, a senior finance ministry official said on Saturday. Non-conventional energy sources including green hydrogen, green ammonia, and some other new renewables are likely to be considered for inclusion under priority-sector lending norms along with electric vehicles, officials said. As per RBI guidelines, it is mandatory for banks to extend 40 per cent of their adjusted net bank credit to the priority sector. At present, seven sectors agriculture, Micro, Small and Medium Enterprises (MSME), export credit, education, housing, social infrastructure, and renewable energy are considered for priority-sector lending.

 

Source: https://indianexpress.com/, August 27, 2023

 

Report suggests cluster approach to decarbonise MSMEs, experts point out the need for MSME policy for energy efficiency

 

With around 49% of total energy consumption, the industrial sector is the highest consumer of energy in Karnataka, according to the draft ‘Karnataka State Energy Efficiency Action Plan’, released by the Bureau of Energy Efficiency (BEE) and Karnataka Renewable Energy Development Limited (KREDL). The plan suggests a cluster wise approach for Micro, Small and Medium Enterprises (MSME) for energy conservation which might result in potential energy savings of 0.02 Millions of Tonnes of Oil Equivalent (MTOE) to 0.05 MTOE in moderate and ambitious scenarios respectively by 2031.

 

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

 

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Fortnightly Previous Edition

15 August 2023

      

          INDUSTRY  SCAN                                                                           

 

       General

How Sahasra Semiconductors Aiming To Be A Leader In Chip Manufacturing Ecosystem In India

 

 

Sahasra Semiconductors, which is a part of Sahasra Group of Industries has now officially told the media that by the end of September or in the first half of October, the firm will commence the commercial manufacturing of Made-in-India memory chips. Sahasra Semiconductors is the home-grown semiconductor manufacturer and is going to be the first company in India to manufacture chips much before Micron, CEO Varun Manwani exclusively told Financial Express. A year back in the Bhiwadi district of Rajasthan, Sahasra Group has set-up the first semiconductor assembly, test and packaging unit in the country.

 

Source: https://circuitdigest.com/, August 18, 2023

 

Tower Semiconductor, Intel Blames Chinese Regulatory Authorities Over Cessation of $5.4 Bn Agreement

 

After several months of heated discussions, the agreement between US based Chip giant Intel and Israel’s contract chip manufacturer Tower Semiconductor has ceased finally. According to media reports, the $5.4 billion agreement has been mutually terminated because they were constantly failing to grab regulatory approvals on time. In the meantime, Tower Semiconductor lost 9 percent of its share both in the US and in Tel Aviv. The company’s official spokesperson told the media that a termination fee of $353 million will be given by Intel to Tower. A year back, both the companies signed their mutual agreement. Reuters on the other hand recently stated that both the companies are yet to provide further details on the grants of regulatory approvals.

 

Source: https://circuitdigest.com/, August 17, 2023

 

India to launch mission to study the sun in September

 

India’s first space-based observatory to study the sun is to be launched on September 2, weeks after it became the first country to land a spacecraft on the unexplored south pole of the moon. Monday’s announcement by India’s space agency said the Aditya-L1 probe will study solar winds, which can cause disturbances on Earth and are commonly seen as auroras. It will take the Aditya-L1 about four months to travel to its observation point, the Indian Space Research Organisation (ISRO) said in a post on X, formerly Twitter. The spacecraft will be fired into a halo orbit in a region of space that will give the craft a continuous clear view of the sun.

 

Source: https://www.aljazeera.com/, August 28, 2023

 

Solar capacity addition in India declines 58% in Apr-Jun: Mercom India

 

Solar capacity addition in the country declined 58 per cent to 1.7 gigawatt in the April-June period, mainly due to land and transmission-related issues, Mercom India said on Monday. The country added 4 GW of solar capacity in the year-ago quarter, the research firm said in 'Q2 2023 India Solar Market Update'. Capacity additions fell almost 58 per cent year-on-year (y-o-y) compared to 4 GW in the year-ago period. ndia added 1.7 GW solar capacity in Q2 of 2023. (New) installations dropped more than 10 per cent quarter-on-quarter (q-o-q) compared to 1.9 GW in the January-March period.

 

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

 

TOP

Information Technology

 

India: A Thriving Hub for IT Professionals

 

 India has emerged as one of the fastest-growing and most attractive markets for the Information Technology (IT) industry. With its growing economy, vast talent pool, and supportive government policies, India has become a hotspot for IT companies and professionals worldwide. The reasons behind India’s prominence in the IT sector and how it continues to foster growth and innovation. In March 2023, an important agreement was signed at the Russian-Indian Business Forum between RUSSOFT, the Technological Sovereignty Export Association, and the Russian-Indian RISING Association. The primary objective of this agreement was to enhance bilateral cooperation in the field of information technology.

 

Source: https://www.thehindu.com/, August 26, 2023

 

Will The 'Digital India Act 2023' Replace The Information Technology Act (IT Act) 2000?

 

Information Technology is a vast field that involves various activities, including crimes. Every day, criminals come up with new ideas, and our security system struggles to handle them. As the country is rapidly transitioning into a digital economy, laws play a crucial role in shaping how technology-related matters are handled. However, there are debates about whether these laws are sufficient and effective. The IT Act of 2000 was established, but over time, the Ministry of Electronics and Information Technology was amended three times. Yet, it has been criticized for not keeping up with new technologies. To address this, a new digital law is being developed.

 

Source: By Megha Kuchik, https://www.freepressjournal.in/, August 29, 2023

 

General Motors to close information technology center near Phoenix and eliminate 940 jobs

 

 General Motors says it will close a large computer center near Phoenix at the end of October, eliminating 940 jobs. The information technology center in Chandler, Arizona, opened in 2014 as part of a blitz by GM to attract software designers and other employees in metro areas with high numbers of technical workers. Similar centers in Warren, Michigan, near Detroit, suburban Atlanta, and in Austin, Texas, will remain open. The Arizona center has just over 1,000 workers now, and most of the eliminated jobs deal with information technology support for consumers, dealers and the company itself. Employees at the other three IT centers will take over that work, GM said Wednesday.

 

Source: https://www.moneycontrol.com/, August, 25, 2023

 

IT firms' growth in Q1 FY24 lowest in 10 qtrs, slowdown to get worse: ICRA

 

 The information technology (IT) services industry’s revenue growth will likely slow down to 3-5 per cent in this financial year (FY24) due to “persistent macroeconomic uncertainty” and weak demand in the US and Europe, rating agency ICRA has said. IT services companies growth moderated between Q3 FY23 and Q1 FY24. In Q1 FY24, ICRA’s sample set of companies recorded a revenue growth of 3.8 per cent year-on-year (YoY) in US dollar terms, the lowest in 10 quarters. The companies' revenue growth in the US moderated more compared to that in Europe. Operating profit margins are likely to moderate by 70-100 bps to 20-21 per cent in FY24.

 

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

 

Tech layoffs: Dukaan lays off 90% of support staff after introducing AI chatbot for customer support

 

The effect of Artificial Intelligence (AI) has already started to show in the job market, and in a recent incident of humans losing jobs to AI, Dukaan, a DIY platform that allows merchants with zero programming experience to set up their own e-commerce store, announced that they have laid off 90 per cent of their support staff after the introduction of an AI chatbot to answer customer support queries. Suumit Shah, Dukaan’s founder and CEO, shared this update through a Twitter post where he explained that the query resolution time went down from 2 hours and 13 minutes to 3 minutes and 12 seconds after the introduction of Dukaan’s own AI assistant.

 

Source: https://www.businesstoday.in/, July 11, 2023

 TOP

Telecom

 

Bulk sale of sim cards banned; agents need police verification

 

In a move to curb frauds using mobile phone sim cards, the government on Thursday said that bulk sales of sim cards will be barred and mandated registration of franchisee, agents and distributors or point of sales by telecom companies besides police verification for sim dealers. Telecom minister Ashwini Vaishnaw said that bulk buying of sim cards has been completely done away with but connections or sims for businesses, corporates or events would be permitted. However, know-your-customer, or KYC norms, will be applicable to each of the individual sim owner.

 

Source: By Gulveen Aulakh, https://www.livemint.com/, August 17, 2023

 

Debt-ridden Vodafone Idea eyes external equity funding by year-end

 

Debt-ridden Vodafone Idea may reportedly close its external equity funding by the end of this year. Akshaya Moondra, the chief executive of the cash-strapped telecom during the earning call said the talks for equity funding have picked up momentum and he anticipated that they may see a positive outcome in the coming quarters. The funding is crucial for the telco as it has not posted any profit since the 2018 merger (Vodafone India and Idea Cellular). The company has constantly been losing its subscribers to Reliance Jio and Bharti Airtel.

 

Source: https://www.livemint.com/, August 17, 2023

 

TRAI to collaborate with states for execution of its recommendations

 

With the increased role of states in giving the much-needed back-up to digital connectivity, telecom regulator has turned to a more collaborative approach with them to ensure effective and faster implementation of its recommendations for ubiquitous voice and data coverage. The Telecom Regulatory Authority of India (TRAI) has also taken it up to create a dashboard where it can monitor the approval and implementation of its recommendations with various ministries including DoT, MIB, MeitY.

 

Source: By Anjana Das, https://telecom.economictimes.indiatimes.com/, August 29, 2023

 

Ericsson, AWS, Hitachi America Showcase Smart Factory Potential With 5G and AI

 

Ericsson, Amazon Web Services (AWS), and Hitachi America R&D joined forces to showcase the potential of combining 5G, artificial intelligence (AI), and automation technologies in the manufacturing sector. According to the joint statement, the private 5G infrastructure trial took place at Hitachi Astemo Americas' electric motor vehicle manufacturing plant in Berea, Kentucky, USA. On Tuesday, Ericsson and the technology partners announced the key takeaways of their trial. According to the statement, the trial utilized Ericsson Private 5G infrastructure in conjunction with the AWS Snow Family to provide private cellular networks that formed the foundation for implementing machine learning (ML) models within the Hitachi manufacturing complex.

 

Source: https://telecomtalk.info/, August 29, 2023

 

BharatNet Project Could Power Internet at Rural Goa: Report

 

BharatNet Project, an ambitious goal to bring internet connectivity at the gram-panchayat level across India could soon power the networks in rural Goa. The Goa government has asked for help from the central government to lay fibre cable in Goa under the BharatNet scheme. On Monday, Pramod Sawant, Chief Minister of Goa said that a detailed project report (DPR) has already been sent to the Department of Telecommunications (DoT) with an aim to get funding from the central government. If approved, the funds can be used by the state to lay fibre cable in the rural corners of Goa to enable a seamless internet experience for consumers across the region.

 

Source: https://telecomtalk.info/, August 29, 2023

 TOP

EV’s & Auto Electronics

 

Tata.ev is the new name for Tata Motors electric vehicle business

 

As we have reported last year, Tata Motors announced today that .ev will be the brand identity for its electric vehicle business. The .ev brand will be used by Tata Motors’ Passenger Electric Mobility division, and for now at least, it will not cover Tata Motors’ electric commercial vehicles. Speaking to Autocar India about the branding Vivek Srivatsa, head, Marketing, Sales and Service Strategy, Tata Passenger Electric Mobility Ltd says, “The dot signifies digitisation, which is a big part of electric mobility, and Tata.ev thus announces our entering of a new era.” The .ev moniker first appeared on the electric Tiago, followed by the electric Tigor. However, while both use the .ev identity in all marketing communication, only the Tiago got a badge on the vehicle itself.

 

Source: https://www.autocarindia.com/, August 29, 2023

 

Amazon now has over 6,000 electric vehicles in its India delivery fleet

 

 Amazon said that it has more than 6,000 EVs (electric vehicles) in its India delivery fleet, making deliveries in more than 400 cities. The company is committed to deploying 10,000 EVs in India by 2025. Working with delivery service partners, Amazon continues to decarbonise its transportation network by transforming its fleet and operations, seeking new electrification solutions, and exploring alternative delivery methods. To transform its network at scale and speed, Amazon has partnered with local original equipment manufacturers in India, including small and medium businesses, and start-ups, to create innovative mobility solutions.

 

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

 

World's first electric flex fuel vehicle to launch today: Here are five things you should know

 

Union Minister Nitin Gadkari will launch the world's first BS-VI (Stage-II), electric flex-fuel vehicle today. The launch of a new 100% ethanol-fueled variant of Toyota's Innova is being seen as a broader push by the government for using alternative fuels like hydrogen, flex-fuel, biofuel etc. in a bid to reduce carbon footprint and decrease the country's dependency on traditional fuel sources. Union Minister Nitin Gadkari had recently announced at the Mint Sustainability Summit 2023 that he would be unveiling a new version of the Toyota Innova car that will run on 100 per cent ethanol.

 

Source: https://www.livemint.com/, August 29, 2023

 

Next EV policy to focus on enhancing charging infra: Delhi Transport Commissioner

 

Delhi Transport Commissioner Ashish Kundra has said the next electric vehicle policy will be focussed on enhancing the charging infrastructure and expanding the financing basket for rolling out purchase incentives. The Electric Vehicle (EV) Policy, 2020, expired on August 8 and was extended by the Delhi government. Addressing a summit on clean transport organised by the International Council on Clean Transportation (ICCT) along with the Indian G20 Secretariat on Monday, Kundra said the government will now go in for an electrification target under which 80 per cent of the bus fleet would be electric by 2025.

 

Source: https://www.zeebiz.com/, August 29, 2023

 

Electric vehicles may soon face tough competition from 'strong hybrid' segment

 

Electric vehicles (EVs) have been the stars of the automotive market of late, but they may soon face competition from the ‘strong hybrid’ segment, which is fast picking up pace. Strong hybrid vehicles have an electric motor as well as an internal combustion engine (ICE), which can work together as well as independent of each other. EV sales jumped by 131% year-on-year during January-July this year, from 25,100 to 58,076 units, but strong hybrid sales outshone, with more than 3,100% growth from 1,467 to 47,124 units.

 

Source: https://economictimes.indiatimes.com/, August 28, 2023

 

TOP

Defence & Solar

 

India and Bangladesh boost defence ties at fifth annual dialogue in Dhaka

 

India and Bangladesh reaffirmed their commitment to bolstering defence cooperation at the fifth annual defence dialogue in Dhaka on Monday, the defence ministry said. efence secretary Giridhar Aramane, who is on a two-day visit to Bangladesh on 27-28 August, co-chaired the meeting with his Bangladeshi counterpart Waker-Uz-Zaman, principal staff officer, Armed Forces Division. According to the ministry, the dialogue between India and Bangladesh is the highest institutionalized interactive mechanism between both countries.

 

Source: https://www.livemint.com/, August 29, 2023

 

Indian Air Force makes its debut in Exercise BRIGHT STAR-23 in Egypt

 

 

In a major development towards fostering global defence cooperation, an Indian Air Force (IAF) contingent will be participating in Exercise BRIGHT STAR-23, a biennial multilateral tri-service exercise scheduled to be held at Cairo (West) Air Base, Egypt, from August 27 to September 16, 2023. The IAF’s participation showcases India’s commitment to strengthening strategic partnerships and enhancing joint operational capabilities. Ex BRIGHT STAR-23 will also witness the participation of contingents from the United States of America, Saudi Arabia, Greece, and Qatar.

 

Source: https://ddnews.gov.in/, August 27, 2023

  

Defence Acquisition Council approves proposals worth 7,800 crore

 

Defence minister Rajnath Singh-led Defence Acquisition Council (DAC) has given its nod to proposals worth ₹7,800 crore to enhance the operational capabilities of the Indian Armed Forces, the ministry said in a statement on Thursday. The ministry said that all procurements will be made from indigenous sources only. The EW Suite will be procured from Bharat Electronics (BEL).

 

Source: https://www.livemint.com/, August 24, 2023

 

Defence ministry inks USD 2.3 billion contract with HSL for 5 ships

 

The defence ministry on Friday sealed a Rs 19,000 crore deal with Hindustan Shipyard Ltd (HSL) for acquisition of five fleet support ships for the Indian Navy. The ships of 44,000 tons category will be the first of its kind to be built in India by an Indian shipyard, officials said. The ministry said the project would be a major boost towards achieving the goal of self-reliance in defence manufacturing as the ships will be indigenously designed and constructed by HSL, Visakhapatnam.

 

Source: https://www.wionews.com/, August 26, 2023

 

TOP

Consumer Electronics

 

Global Smartwatch Shipments See YoY Growth After Two Quarters

 

Global smartwatch shipments increased 11% YoY in Q2 2023 after declining in both Q4 2022 and Q1 2023, according to Counterpoint Research’s recently published Global Smartwatch Model Tracker. India’s shipments soared by 70% YoY, serving as the primary driver for the global market’s rebound. China’s market also recorded a modest increase. Besides, a shift in the competitive landscape was evident as Huawei ascended to the second position in terms of global market share. uawei recorded impressive growth in Q2 2023, securing the second position in quarterly shipments for the first time in two years. The leading Chinese brand’s growth stagnated for some time due to technological sanctions and a slowdown in its domestic market.

 

Source: https://www.counterpointresearch.com/, August 29, 2023

 

2023 Global Smartphone Shipments to Hit Decade Low As Apple Inches Closer to Top Spot

 

According to preliminary figures from Counterpoint Research’s latest Global Smartphone Shipment Forecast, 2023 shipments are forecast to decline 6% to 1.15bn units, the lowest in a decade. Asia is one of the major hurdles to positive growth, as headwinds halt the economic turnaround anticipated for China at the start of the year, and the broader region experiences intensifying declines across emerging markets. As well, North America continues to be a major drag on global recovery, with a disappointing 1H setting it up for double-digit full year declines. Despite strength in the jobs market and inflation falling, consumers are hesitant to upgrade their devices, pushing replacement rates for the US and globally to record highs.

 

Source: https://www.counterpointresearch.com/, August 17, 2023

 

Best Buy Tops Estimates, Sees Consumer Electronics Demand Improving Next Year

 

Best Buy BBY +5.71%  stock was rising Tuesday after the electronics retailer beat fiscal second-quarter estimates and said it expected demand for consumer electronics to pick up. The company posted earnings of $1.22 a share from revenue of $9.58 billion. Analysts surveyed by FactSet were expecting Best Buy (ticker: BBY) to report earnings of $1.06 a share on revenue of $9.52 billion. In the year-ago quarter, Best Buy turned in earnings of $1.54 a share from $10.6 billion of revenue.

 

Source: By Sabrina Escobar, https://www.barrons.com/, August 28, 2023

 

India’s embrace of ‘right to repair’ can transform the electronics sector

 

Electronic waste (e-waste) has emerged as a persistent environmental challenge, driven by the exponential growth in consumer electronics consumption and unfit disposal practices. E-waste refers to all types of e-products and their parts that have been discarded as waste without intention of reuse. In 2022, the value of the global consumer electronics market stood at $762 billion and is expected to reach $1.1 trillion by 2030. For developing nations such as India, e-waste is a quandary on two fronts: managing the dumping of e-waste by developed countries along with a rapidly growing domestic e-waste stream. In India, better living standards, changing lifestyles, and higher disposable incomes have translated into higher demand for consumer electronics, including “luxury” electronics such as smartphones.

 

Source: By Trisha Ray, https://www.atlanticcouncil.org/, August 28, 2023


TOP

EMSIF

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

 

Govt’s MSME ZED certification scheme: Over 20,000 enterprises certified till August 2023

 

Over 20,000 Zed certificates have been issued under the MSME Sustainable (Zed) Certification scheme till August, Union Minister of MSMEs Narayan Rane shared in a post on X (formerly Twitter). The scheme aims to improve the competitiveness and productivity of MSMEs by helping them reduce wastage in their manufacturing process, enhance their environmental consciousness, save energy, and expand their markets. Launched in April last year, the scheme had completed 10,000 certifications till July this year. ZED certification scheme is becoming the identity of a successful enterprise. MSME ZED certification scheme has crossed the mark of 20,000+ certifications.

 

Source: By Girish Khurana, https://www.financialexpress.com/, August 28, 2023

 

Restart Model' programme to help MSMEs in AP

 

Andhra Pradesh is striving to promote the cause of energy efficiency through special programmes. This was stated in a discussion state chief secretary Jawahar Reddy had with the CEO of EESL (Energy Efficiency Services Ltd) Vishal Kapoor on Sunday. He stressed the importance of implementing energy management systems to address climate change and sustain the economy. Reddy suggested that EESL explore the possibility of providing the latest energy-efficient technologies for micro, small, and medium enterprises.Chief Minister Jagan Reddy holds a strong commitment to advancing the MSMEs and reinforcing their capabilities through the introduction of cutting-edge technologies.

 

Source: https://www.deccanchronicle.com/, august 28, 2023

 

Credit access for MSMEs depends on digitisation, integration of services

 

India’s aspiration to become atmanirbhar (self-reliant) relies on the success of its micro, small, and medium enterprises (MSMEs), which make up 90 per cent of businesses, some 30 per cent of the gross domestic product, and employ more than 120 million people. However, these firms face longstanding challenges in accessing working capital, hindering their operational continuity and growth. Reports indicate a staggering credit gap of Rs 25 trillion, with only 14 per cent of the 64 million MSMEs having access to credit.

Trade Receivables Discounting Systems (TReDS) – a digital bill-discounting platform – helps MSMEs convert their receivables into instant liquidity.

 

Source: By Ketan Gaikwad, https://www.business-standard.com/, August 27, 2023

 

Beyond state schemes, India’s MSMEs need strategic govt push to flourish

 

Share of MSMEs in overall GDP growth has stagnated for many years now  MSME share in GDP was 29-30 percent between FY17 and FY23  Many government schemes envisage helping MSMEs function and flourish   MSMEs are yet to have access to superior technology, capital  Developing regional clusters of scale is still left to large industries    India’s MSME sector is stagnating, or worse floundering. Recently, while talking to the media, Bhanu Pratap Singh Verma, the Minister of State for Micro, small and medium enterprises (MSME’s). MSMEs are yet to have access to superior technology, capital. Developing regional clusters of scale is still left to large industries.

 

Source: By VIVEK Y KELKAR, https://www.moneycontrol.com/, August 29, 2023

 

MSMEs Should See Digital As Stepping Stone In Meeting Growth Target: Experts

 

Indian micro, small and medium enterprises (MSMEs) should see digital as the stepping stone in meeting the growth target of their companies and in understanding audiences' buying habits, according to experts. While speaking at an event organised by the Forum for Internet Retailers, Sellers and Traders (First), experts highlighted the significance of ecommerce in modern business and encouraged a positive adoption approach, reframing it from competition to opportunity. This consumer group, Kumar added has gone digital in all their aspects of lifestyle and hence, MSMEs should see digital as the stepping stone in meeting the growth target of their enterprise and in understanding their target audiences' needs and buying habits.

 

Source: https://www.businessworld.in/, August 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 

 

Overseas Shows

 

Event

:

SEMICON Taiwan 2023

Organiser

:

SEMI Taiwan

From

:

06-September-2023

To

:

08-September-2023

Venue & City

:

Taipei Nangang Exhibition Center, Taipei, Taiwan

Website

:

https://www.semicontaiwan.org/en

 

Event

:

KPCAshow2023 (Int’l Electronic Circuits and Packaging Show)

Organiser

:

Korea Electronics Packaging and Circuits Association (KPCA)

From

:

06-September-2023

To

:

08-September-2023           

Venue & City

:

Songdo Convensia, Incheon, Korea

Website

:

http://www.kpcashow.com

 

 Domestic Shows

Event

:

electronica India & productronica India  2023

Organizer

:

MMI

From

:

13-September -2023

To

:

15-September -2023

City

:

Bangalore Int’l Exhibition Centre (BIEC), Bengaluru

Website

:

https://electronica-india.com/en/

 

Event

:

India Mobile Congress

Organiser

:

COAI

From

:

27-October-2023

To

:

29-October-2023

City

:

Pragati Maidan, New Delhi

Website

:

https://www.indiamobilecongress.com/

 

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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: www.elcina.com