|
3. CBIC Instruction No.
14/2024-Customs dated: 17th May 2024: E-Waste (Management)
Rules, 2022 � Regarding release of imported consignments of
producers 106 EEEs items (ITEW1 to ITEW27, CEEW1 to CEEW19,
LSEEW1 to LSEEW 34, EETW1 to EETW 8, TLSEW 1 to TLSEW 6,
MDW1 to MDW10 and LIW1 to LIW2) as listed in the E-Waste
(Management) Rules
The Central Board of Indirect Taxes and Customs (CBIC)
issued Instruction No. 14/2024-Customs on May 17, 2024,
regarding the release of imported consignments under the
E-Waste (Management) Rules, 2022. This instruction pertains
to 106 specified Electronic and Electrical Equipment (EEE)
items, categorized from ITEW 1 to ITEW 27, CEEW 1 to CEEW
19, LSEEW 1 to LSEEW 34, EETW 1 to EETW 8, TLSEW 1 to TLSEW
6, MDW 1 to MDW 10, and LIW 1 to LIW 2.
This instruction references previous Board Instructions No.
1/2023-Customs dated January 7, 2023, and No.
23/2023-Customs dated July 14, 2023, which outline
compliance requirements under the E-Waste Management Rules,
2022 effective from April 1, 2023, and June 30, 2023,
respectively.
The Central Pollution Control Board (CPCB), in a letter
dated May 13, 2024 (File No.
CP-22/40/2023-WM-III-HO-CPCB-HO), has directed that imported
consignments of all notified EEE items (106 items) can be
released upon the submission of an undertaking. The format
of this undertaking is enclosed with the instruction, and
proof of submission must be emailed to ewaste2.cpcb@gov.in
by June 30, 2024.
This measure ensures that importers comply with the E-Waste
(Management) Rules, 2022, while allowing the timely release
of their consignments.
4. CBIC Instruction No.
15/2024-Customs dated 29th May 2024: Disbursal of Drawback
amounts into the exporter�s accounts through PFMS
The Central Board of Indirect Taxes and Customs (CBIC)
issued Instruction No. 15/2024-Customs on May 29, 2024,
introducing a significant update to the Duty Drawback
disbursal process. Effective from June 5, 2024, Duty
Drawback amounts for exporters will be disbursed directly
into their accounts through the Public Finance Management
System (PFMS). This change aims to streamline the process,
enhancing efficiency, security, and transparency.
Key points of the instruction include:
-
Customs officers will process Duty Drawback scrolls
at each location.
-
Scrolls will be automatically processed by CAS and
sent to the Central Nodal eDDO.
-
The consolidated All India duty drawback scroll will
be forwarded to the nodal ePAO.
-
After ePAO approval, Duty Drawback amounts will be
credited into exporters� bank accounts linked with
PFMS.
-
Pre-Implementation Actions: Principal Chief
Commissioners/Chief Commissioners must ensure completion
of certain actions before June 5, 2024, including
processing of existing Drawback scrolls and intimating
the last cheque number issued for Duty Drawback payments
to the jurisdictional PAO and Authorised bank.
This instruction signifies a transition to a more efficient
and secure method of disbursing Duty Drawback amounts,
benefiting both exporters and the Customs administration.
5.Notification No. 10/2024-Central Tax dated 29th May 2024:
Seeks to amend the Notification no. 02/2017-CT dated
19.06.2017 with effect from 5th August, 2023
The Central Government, exercising powers under the Central
Goods and Services Tax Act, 2017 and the Integrated Goods
and Services Tax Act, 2017, has issued Notification No.
10/2024-Central Tax dated May 29, 2024. This notification
makes further amendments to Notification No. 02/2017-Central
Tax dated June 19, 2017.
Key amendments effective from August
5, 2023, include:
Changes to Districts in Rajasthan:
-
Serial number 7: Alwar District's inclusion of various
tehsils and adjustment of boundaries.
-
Serial number 49: Jaipur District's redefinition to
include additional tehsils and adjustments.
-
Serial number 53: Jodhpur District's extension to
incorporate additional areas.
-
Serial number 102: Udaipur District's modification to
include additional areas.
These changes refine and redefine the administrative
divisions within Rajasthan for the application of Central
Goods and Services Tax, aiming for greater clarity and
effectiveness in tax administration.
6.Notification No. 11/2024-Central Tax Dated 30th May, 2024
: Seeks to amend Notification No. 02/2017-CT dated 19th
June, 2017 to assign district of Kotputli-Behror to CGST
Alwar Commissionerate
The Central Government, in exercise of the powers conferred
under the Central Goods and Services Tax Act, 2017 and the
Integrated Goods and Services Tax Act, 2017, has issued
Notification No. 11/2024-Central Tax dated May 30, 2024.
This notification further amends Notification No.
02/2017-Central Tax dated June 19, 2017.
Key amendments include:
In Table II of the aforementioned
notification:
-
Serial number 7: The words "Neem ka Thana and Jhunjhunu
and Behror, Bansur, Neemrana, Mandan and Narayanpur
tehsils of district" have been replaced with "Neem ka
Thana, Jhunjunu and".
-
Serial number 49: The words "and Kotputli, Viratnagar
and Shahpura tehsils of district Kotputli-Behror" have
been omitted.
These amendments aim to refine and clarify the geographical
boundaries and administrative divisions for the application
of Central Goods and Services Tax within specified regions.
7. Instruction No. 01/2023-24-GST
(Inv.) :
The Central Board of Indirect Taxes and Customs (CBIC)
issued Instruction No. 01/2023-24-GST (Inv.) dated March 30,
2024, to provide guidelines for CGST field formations in
maintaining ease of doing business while conducting
investigations with regular taxpayers.
This instruction aims to promote transparency, efficiency,
and fairness in investigation procedures while ensuring ease
of doing business for regular taxpayers.
8. Instruction No. 01/2024-GST dated
30th May 2024 : Guidelines for initiation of recovery
proceedings before three months from the date of service of
demand order
The Central Board of Indirect Taxes and Customs (CBIC) has
issued Instruction No. 01/2024-GST on May 30, 2024,
providing guidelines for the initiation of recovery
proceedings before three months from the date of service of
demand order under the GST regime.
This instruction aims to streamline the recovery process
under the GST regime, promoting compliance and facilitating
the timely collection of tax dues.
For any queries on policy capsule contact: policy@elcina.com
TOP
INDUSTRY SCAN
General
Elon Musk plans to build a
supercomputer using NVIDIA's semiconductor chips
Tesla and SpaceX CEO Elon Musk recently told investors that
his artificial intelligence (AI) startup xAI will be working
on building a supercomputer that will power the next version
of its AI chatbot Grok. He will need 100,000 semiconductors
to train and run them, The Information reported on May 25.
Musk said he wants to get this supercomputer running by the
fall of 2025, adding that xAI could partner with Oracle to
develop the computer. Reportedly, the startup has been
talking with Oracle about spending $10 billion to rent cloud
servers. xAI is the largest H100 customer at Oracle, using
over 15,000 AI chips made by NVIDIA. Even Musk�s Tesla has
been using NVIDIA-powered supercomputers to produce its
electric vehicles. The xAI supercomputer that�s labelled as
the �gigafactory of compute� by Musk plans to string 100,000
chips into a single, massive computer. When completed, the
connected groups of chips�Nvidia�s flagship H100 graphics
processing units (GPUs)�would be at least four times the
size of the biggest GPU clusters that exist today, The
Information stated.
Source: By Naandika Tripathi, https://www.forbesindia.com/,
May 27, 2024
TCS ties up with IIT Bombay to develop
India's first sensing tool for semiconductor chip imaging
IT services major Tata Consultancy Services has entered into
a partnership with the Indian Institute of
Technology-Bombay, to develop what it said is India's first
quantum diamond microchip imager. According to a statement
from the IT services major on Tuesday, this to-be-developed
sensing tool will hold the potential to unlock new levels of
precision in the examination of semiconductor chips, reduce
chip failures and improve the energy efficiency of
electronic devices. Over the next two years, experts from
TCS will work with Dr Kasturi Saha, Associate Professor in
the Department of Electrical Engineering of IIT-Bombay to
develop the tool. Semiconductor chips are an essential
component of all modern electronic devices. These chips act
as the brain of devices across industries such as
communications, computing, healthcare, military systems,
transportation, clean energy, and what not.
Source: https://www.zeebiz.com/, May 28, 2024
Altium Invests in India, Headquarters
in Bengaluru
Last week, Altium, the American-Australian software company,
announced of expanding its presence in Bengaluru, India.
Recently, it has invested in recruiting technical and sales
staff in a newly opened office space in the city. Besides
aiming to understand the local electronics environment and
customer base, Altium has planned to sponsor the education
of India�s upcoming professionals in the electronics
industry. The new establishment will enable Altium to work
closely with its growing customer base in India. The company
aims to help the industry adopt practices for efficiency,
sustainability, and faster innovation cycles. To achieve
this, it plans to host its Altium 365 cloud platform in the
region by the second half of 2024, prioritising customer
benefits and compliance with local data protection
regulations. Altium plans to address specific demands of the
Indian market through specialised Pre-Sales, Sales &
Marketing, and Customer Support teams.
Source: By Shubha Mitra, https://www.electronicsb2b.com/,
May 29, 2024
Wipro And IISc Collaborate On AI
Health Innovations
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On Tuesday, Wipro Limited declared a joint venture with the
Centre for Brain Research (CBR), an autonomous, non-profit
research organisation, hosted at the Indian Institute of
Science (IISc). The partnership aims to create novel
technologies that offer targeted assistance in preventing
and managing chronic health conditions. This will be
achieved by leveraging the capabilities of artificial
intelligence (AI), machine learning (ML), and big data
analytics. The Research and Development team of Wipro will
design and develop a personal care engine. This AI-based
software will consider an individual�s medical background,
preferred health goals, and behavioral reactions. Its
primary goal will aim to encourage healthy aging, positive
lifestyle modifications, and enhance psycho-social
well-being. This will significantly improve an individual�s
health over an extended period.
Source: By Shubha Mitra, https://www.electronicsb2b.com/,
May 29, 2024
TOP
Information Technology
Malls deploying latest
tech to enhance shopping experience
The malls in India are rebooting the shopping experience to
woo the modern-day customer by deploying latest
technologies. The bottom line is clear: Malls and the stores
within have to meet customers where they are, instead of
endlessly waiting for them to come to them. In a bid to stay
relevant, malls are tapping into every click, every swipe
and every purchase which is leaving behind a digital
footprint � a treasure trove of data waiting to unlock the
secrets of consumer behaviour. The country�s largest
developer DLF, for instance, is reworking its loyalty app
where mall shoppers get vouchers for the purchases they have
made. As part of the rejig, it is also working on guiding
shoppers to the next store that has special offers and
discounts and is evaluating face recognition to get
demographic data.
Source: https://www.financialexpress.com/, May 24, 2024
Strengthening bilateral cyber
cooperation: India and South Korea hold cyber dialogue
At the second India-Republic of Korea Cyber Dialogue focus
of the discussions was on various matters pertaining to
bilateral cyber cooperation including capacity building &
training, standardization and cyber security. The meeting
took place in Seoul on May 28, 2024 where the Indian
delegation was led by Amit A Shukla, Joint Secretary, Cyber
Diplomacy Division, Ministry of External Affairs, while the
Korean delegation was led by Rhee Dong-Yeol, Ambassador for
International Security Affairs, Ministry of Foreign Affairs
(MOFA) of ROK. Also, the two sides exchanged views on
contemporary developments in the cyber domain, global
challenges due to rapid evolution of technology. According
to the Ministry of External Affairs (MEA) they also
discussed ways to deepen cooperation at the United Nations
and other multilateral and regional fora to build a safe and
robust cyberspace.
Source: https://www.financialexpress.com/, May 29, 2024
DoT takes action on 10K fraudulent
messages sent by using 8 SMS
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The Department of Telecommunications (DoT), which comes
under the Ministry of Communications & Information
Technology, has said that it took action on more than 10,000
fraudulent messages that were sent by using eight SMS
headers in the last three months. DoT, in partnership with
the Ministry of Home Affairs (MHA), has taken decisive
measures to protect citizens from potential SMS fraud
through the Sanchar Saathi initiative. Indian Cyber Crime
Coordination Centre (I4C), MHA, provided information about
the misuse of eight SMS Headers to DoT for sending
fraudulent communications for committing cybercrime. DoT
then took action and blacklisted the 'Principal Entities'
which were owners of these eight SMS Headers.
Source: https://www.indiatvnews.com/, May 27, 2024
TOP
Consumer Electronics
Smartphone Co HTech plans to raise $100 million
to diversify operations
 HTech,
the newly formed company which has a licence to sell Honor-branded
mobile phone handsets in India, is looking to raise about
$100 million from investors to diversify into manufacturing,
co-create India-specific products and improve customer
experience, a top executive said. The smartphone player will
be looking to dilute equity in the company--in which Sheth
is now a majority shareholder--to raise the funds. Since
inception in August 2023, HTech has launched two handsets
across the mid-premium and budget segments, and is looking
to launch six more by the end of 2024, targeting the
fast-growing premium segment which contributes 20% in volume
terms to the smartphone market, according to Counterpoint
Research. HTech is in talks with electronics manufacturing
services partners to get started on manufacturing Honor
devices in India from the third quarter of the 2024.
Source: https://economictimes.indiatimes.com/, May 22, 2024
High Efficiency, Low Cost: New �All in
One� Microcomb Lasers Could Transform Consumer Electronics
Optical frequency combs, devices essential for measuring
light, have transformed fields like metrology, spectroscopy,
and atomic clock development. However, the difficulty in
producing frequency comb generators on a microchip scale has
restricted their integration into common technologies, such
as handheld electronics. In a study published in Nature
Communications, researchers at the University of Rochester
describe new microcomb lasers they have developed that
overcome previous limitations and feature a simple design
that could open the door to a broad range of uses. Optical
frequency combs generate a spectrum of light consisting of
multiple coherent beams, each tuned to a different frequency
or color, in evenly spaced distances. The resulting shape
resembles the teeth on a haircomb. In recent years,
scientists have been working to create miniaturized versions
of this technology, or microcombs, that can fit on small
chips.
Source: https://scitechdaily.com/, May 28, 2024
Intense competition drives prices of
wearables to all-time lows; sales up but higher inventory
worries companies
Prices of wearables such as smartwatches, bluetooth
headphones and earbuds, and wristbands have crashed to an
all-time low due to intense competition and deals such as
buy one, get one free, companies and researchers said.
Earbuds start at Rs 400 and smartwatches at Rs 999 for
frontline brands, about half of what they were a year ago,
they said. Although sales are rising, companies aren�t able
to clear out stock fast enough, they added. According to
data from researcher International Data Corporation (IDC),
the average selling price (ASP) of smartwatches and truly
wireless headphones (TWS) have crashed five-seven times
between 2019 and 2023 amid a price war. In the March
quarter, ASPs of wearables fell 18% from a year ago. Titan
Co. chief executive, watches and wearables division, Suparna
Mitra, told analysts earlier this month that manufacturers
of wearables are faced with a buildup of stocks.
Source: By Writankar Mukherjee, https://economictimes.indiatimes.com/,
May 26, 2024
Google's India alphabet P for Pixel, D
for Dixon: Local contract manufacturer will make Google
Pixel 8 smartphones
Local contract manufacturer Dixon Technologies will make
Alphabet Inc's super-premium Google Pixel 8 smartphones in
the country, said two industry executives aware of the plan.
The first batch of made-in-India devices are expected to hit
the market by September with trial production having just
begun, they said. Alphabet had announced in October last
year that it will make Google Pixel smartphones in India.
It's the only large global smartphone brand that was missing
from the make-in-India drive in smartphones. Dixon's Pixel
capacity will be 100,000 units per month with 25-30% to be
exported as it makes a fresh attempt to gain market share in
India, the world's second largest smartphone market. The
Pixel 8 model accounts for almost 80% of all Pixels sold in
India, executives said.
Source: By Writankar Mukherjee, https://economictimes.indiatimes.com/,
May 22, 2024
TOP
Telecom
Airtel likely to be
biggest 5G spectrum buyer in June 6 sale:
Analysts
Bharti Airtel is likely to boost sub-GHz airwave holdings in
the coveted 900 MHz band in a dozen circles and emerge as
the top spectrum buyer among three telcos in the upcoming
auction despite Reliance Jio submitting the highest earnest
money deposit (EMD), analysts said. This, they said, is
mainly because the Sunil Mittal-led telco lags market leader
Jio on vital sub-GHz spectrum holdings and is likely to
augment its low-band airwaves arsenal in the upcoming sale �
starting June 6 � to bolster rural mobile broadband
coverage. As per latest telco spectrum data collated by Axis
Capital, Airtel�s sub-GHz spectrum holdings in 800, 900 MHz
bands are significantly lower at 176 MHz compared to Jio�s
445 MHz. Jio�s sub-GHz spectrum holdings are larger than
Airtel and Vi as it is the only telco with pan-India 700 MHz
airwaves apart from nationwide 800 MHz spectrum. Vodafone
Idea's (Vi) sub-GHz spectrum holding (900 MHz band only) is
at 141.2 MHz.
Source: By Kalyan Parbat, https://economictimes.indiatimes.com/,
May 29, 2024
DoT allocates 160 as prefix for
incoming calls for service, transaction
The Department of Telecom has allocated a separate 10-digit
numbering series starting with 160 for service and
transactional calls made by government, regulators and
financial entities, according to an office memorandum issued
on Tuesday. The 10-digit number series has been designed by
the DoT in a manner that telecom subscribers will get an
idea about calling entities as well as the telecom operator
and the place from where it has originated.The move is aimed
at helping subscribers differentiate between calls made by
government bodies and regulated entities from those made by
fraudsters masquerading as government officials. The
10-digit number will be issued in 1600ABCXXX format for
government and regulators where AB will show the code of
telecom circle like 11 for Delhi, 22 for Mumbai, etc and the
digit at C place will show the code of telecom operator. The
XXX will be digits between 000-999.
Source: https://www.business-standard.com/, May 28, 2024
Govt identifies 600 land parcels,
buildings of BSNL and MTNL for 'outright sale'
The Department of Telecommunications (DoT) has identified
around 600 land parcels and buildings owned by Bharat
Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam
Limited (MTNL) for outright sale to government departments,
public sector undertakings, and government organisations.
Through land monetisation, the Centre is looking to reduce
the debt of both telecom-sector PSUs. These properties could
fetch the government over Rs 20,000 crore. In a
communication dated May 21 addressed to all secretaries in
central ministries and chief secretaries of states and Union
Territories, the DoT Secretary Neeraj Mittal informed that
BSNL has created a website listing all the land parcels and
buildings up for outright sale across the country.
Source: By Danish Khan, https://www.moneycontrol.com/, May
28, 2024
MHA asks agencies to not seek info of
each other from telecom companies
The Ministry of Home Affairs (MHA) has asked all the Central
law enforcement agencies to not approach the telecom service
providers directly to get details of other central agencies,
who have accessed the call data records (CDR). A source said
that the direction was issued last month after the Centre
received complaints from a few agencies, specifically those
working in the counter terrorism cases, alleging that other
agencies on the pretext of getting details of their
suspects, are also seeking information of some specific
numbers procured by other agencies/units. In its
communication, the MHA is learnt to have told the agencies
that they have received information that the latter are
still approaching the department of telecom/telecom service
providers (TSPs) seeking specific details of other agencies,
who had procured CDR, location data and Internet Protocol
Detail Record of specific telephone/mobile number from the
TSP.
Source: By Manhender Singh Manral, https://indianexpress.com/,
May 28, 2024
TOP
EV�s & Auto Electronics
Volkswagen to develop
low-cost electric car to tackle Chinese rivals
Volkswagen will develop low-cost electric vehicles in a bid
to better compete with fierce Chinese rivals, Europe's
largest carmaker said on Tuesday, after talks with Renault
to team up on the project collapsed earlier this month. The
target is to produce electric vehicles for the European
market priced at around 20,000 euros ($21,746), Volkswagen
said, adding that a world premiere was planned for 2027.
Volkswagen said it would rely on a high degree of
localisation in Europe for the project, which would also
help to cut transport routes of components, thereby reducing
emissions. Last week Volkswagen said the European industry
had between two and three years to prepare for the
competitive threat, warning that the sector's survival was
otherwise at risk.
Source: https://www.business-standard.com/, May 29. 2024
FAME 3 likely to be rolled out soon
with Rs 10,000 crore outlay
The third edition of the Modi government's flagship electric
vehicle incentive scheme FAME (Faster Adoption and
Manufacturing of Electric Vehicles) with an outlay of about
Rs 10,000 crore is likely to be rolled out within the first
100 days of the new government taking charge next month, a
senior official said. The scheme will offer financial
incentives to electric two-wheelers and three-wheelers as
well as government-owned buses, the official told ET.
However, a final decision on whether to include electric
cars, including for institutional buyers such as taxi
aggregators, in the FAME 3 scheme is yet to be taken, the
official added. The proposed scheme mirrors the FAME 2 which
lapsed in March 2024. It will be sent for approval to the
Union cabinet shortly after the new government takes charge
in June,� the official said. FAME 2 had offered a 15%
subsidy on the sale price of electric scooters sold in the
country.
Source: By Sharmistha Mukherjee & Twesh Mishra, https://economictimes.indiatimes.com/,
May 29, 2024
BYD India delivers 200 Seal cars in a
single day!
BYD India has set an impressive new record by delivering 200
units of the Seal sedan in a single day across the country.
Recently, the Chinese automaker registered over 1,000 orders
of the all-electric sedan in just over two months of the
booking commencement. Delhi NCR, Mumbai, Bangalore, Chennai,
Hyderabad, and Kochi were a few cities where this mega
delivery event took place. The BYD Seal was launched in
India on 5 March, 2024 at a starting ex-showroom price of Rs.
41 lakh. It can be had in three variants, namely, Dynamic,
Premium, and Performance. Specifications-wise, the Seal can
be had with two battery pack options � a 61.44kWh and an
82.56kWh unit. Additionally, the sedan is claimed to deliver
an ARAI-certified driving range of up to 650km on a single
charge.
Source: https://www.carwale.com/, May 27, 2024
MG India, HPCL join hands to enhance
EV charging network across India
MG Motor India and Hindustan Petroleum Corporation Ltd. (HPCL)
have announced a strategic partnership to enhance and enrich
India�s EV charging infrastructure. Under this alignment, MG
and HPCL will together install 50kW/60kW
 DC
fast chargers at key locations covering highways and cities
across India. The collaboration aims to provide convenience
to EV users by increasing the availability of EV chargers
during their long distance and intercity commutes, a joint
statement read. According to an official statement, the
public-mode network of chargers is designed for all EVs
compatible with the CCS 2 charging standard, like that of
the MG ZS EV. These charging stations will be available for
MG customers on the MyMG App and will be discoverable via
the integrated HPCL network discovery tool.
Source: By Tarab zaidi,
https://www.businesstoday.in/, May 29, 2024
TOP
Defence & Solar
Pakistani hackers may have
hit 3 majors Indian defence firms. Find out
which
The Indian government and defence and aerospace sectors were
allegedly targeted by a suspected Pakistan-based hacking
group between late 2023 and April 2024, Canadian
cybersecurity firm BlackBerry Research & Intelligence Team
said in a recent report, adding that the "the threat group",
called Transparent Tribe or APT36, was likely to continue
its online espionage campaign against sensitive Indian
entities. In its May 22 report, BlackBerry claimed that it
had traced the roots of the espionage campaign to Pakistani
cities. In particular, three state-owned companies involved
in aerospace and defence were targeted. BlackBerry's claims
were first reported by India Today. "We observed the group
deploying a range of malicious tools mirroring those used in
previous campaigns as well as newer iterations, which we
assess with moderate to high confidence were indeed
conducted by Transparent Tribe," said the BlackBerry report.
Source: https://www.business-standard.com/, May 28, 2024
Drdo working on indigenous ramjet
engine to boost affordability of brahmos missiles
The BrahMos is set to play a key role in India's defence
exports after delivering its maiden order to the Philippines
this year. India's Defence Research & Development
Organisation (DRDO) is currently developing an indigenous
ramjet engine for the BrahMos missiles to make it more
affordable for exports. Promoting an Indian ramjet engine
for the BrahMos India's Defence Research & Development
Organisation (DRDO) aims on making the air vehicles
accessible for exports after tasting success with Manila
being its first foreign buyer. According to an expert,
BrahMos Aerospace is developing a brand new projectile,
based on local developed technologies. DRDO is devising a
technology demonstrator liquid fuel ramjet (LFRJ) engine of
350 mm diameter for potential applications in missiles and
aerial targets, an Indian Air Force (IAF) veteran and
military expert Vijainder K. Thakur said.
Source: https://www.indiandefensenews.in/, May 29, 2024
India to commission second nuclear
submarine by end of 2024
India's second nuclear-powered ballistic missile submarine (SSBN)
will be commissioned in the next few months, Janes
understands, reported Janes. The vessel, which will be in
service as INS Arighat once commissioned by end 2024, is
going to be formally inducted almost seven years after it
was launched. According to Janes data, Arighat was launched
in Visakhapatnam in November 2017. It has a length of 111.6
m, beam of 11 m, draught of 9.5 m, and a displacement of
6,000 tonnes. Arighat is one of three SSBNs that have been
launched by India. First-of-class INS Arihant was launched
in July 2009 and commissioned in August 2016, while a third
yet-to-be-named vessel was launched in November 2021. Built
at the Indian Navy's Ship Building Centre (SBC) in
Vishakhapatnam, Arighat is powered by an 82.5 MW pressurised
light water reactor (LWR) developed with Russian assistance.
The submarine can achieve a top speed of 24 kt, and a
surfaced speed of 10 kt.
Source: https://www.indiandefensenews.in/, May 29, 2024
Defense Bonanza Awaits India! New Govt
To Clear Key Deals For Rafale M, Multi-Role Fighters &
Aircraft Carrier
The Indian elections will be over on June 1, and the results
will be declared on June 4. The new Indian government will
have a slew of decisions to take and deals to finalize. The
top on the list is the multi-billion deal for purchasing 26
Rafale Marine Fighter jets. According to media reports, a
high-level French team comprising officials from their
defense ministry, Dassault Aviation, and Thales will meet
with Indian defense ministry officials, members of the
Defense Acquisition Wing, and the officers of the Indian
Navy to negotiate the contract for the carrier-based fighter
jets. Dassault Aviation�s Rafale-M (Marine) edged out
Boeing�s F/A-18 E/F Super Hornets based on interoperability
with the Indian Air Force�s fleet. The existing fleet with
its air force will help India strike a better deal for its
Navy. The acquisition will happen through a
government-to-government deal worth Euros 4 billion.
Source: By Ritu Sharma, https://www.eurasiantimes.com/, May
29, 2024
TOP
MSME
(Special section of the MSME related news under ELCINA Micro
& Small Industry Forum)
If MSMEs don�t want...':
FM Nirmala Sitharaman hints at reconsidering
45-day payment rule in July Budget
Finance Minister Nirmala Sitharaman has said the Centre is
willing to reconsider the 45-day payment rule for micro,
small, and medium enterprises if the industry wants it.
Sitharaman said if MSMEs require an extended payment period,
they can submit representations for "consideration in the
upcoming July Budget". In an interaction with MSMEs in
Ludhiana, the minister assured that tax relief for these
enterprises remains accessible. However, she emphasized that
this relief is contingent upon timely payments, ensuring
that businesses benefit while adhering to current payment
schedules. If MSMEs, industry feel they don�t want this
amendment and will sort it amongst themselves, and want this
route to be changed, then do submit representations and
definitely in the July budget, we will work towards it.
Source: https://www.businesstoday.in/, May 29, 2024
Creating an Export Development Fund is
crucial for the MSME ecosystem: FIEO�s Ashwani Kumar
The market development schemes have grossly inadequate
budgets to increase exports, Ashwani Kumar, President of the
Federation of Indian Export Organisations (FIEO) stated.
This, he highlighted, is the reason why MSMEs are unable to
get sufficient marketing exposure. The Market Development
Assistance and the Market Access Initiative schemes have
only Rs 300 crore per annum, said Kumar while speaking on
the sidelines of an event in the capital. �It is not
possible to market India�s exports of $900 billion with Rs
300 crore. It is important to come up with a planned scheme
for an export development fund.� He suggested that a
budgetary support equivalent to 1% of the preceding year�s
export value in the Indian rupee be made available every
year through the budget grant to the Department of Commerce.
�This would be necessary to take Indian exports from $778
billion in 2023-24 to $2,000 billion by 2029-30,� he said,
adding that FIEO puts focus on aggressive marketing for
visibility of our products and services.
Source: By Neha Dhawan, https://economictimes.indiatimes.com/,
May 29, 2024
FISME Address Challenges faced by MSME
for GST Registration in TN
In a recent case, the Federation of Indian Micro and Small &
Medium Enterprises (FISME) and Tamil Nadu Chamber of
Commerce show the issues faced by online micro, small and
medium enterprises (MSMEs ) and sellers in Tamil Nadu ( TN )
with regards to the Goods and Services Tax ( GST )
registration. According to the industry bodies, many MSMEs
in the state are encountering obstacles in obtaining GST
registration. They pointed out bureaucratic inefficiencies
and strict, often misinterpreted, requirements from state
authorities as major hurdles for sellers. These challenges
include excessive scrutiny regarding shared business spaces,
the need for constant workstation presence, and the
requirement to justify Tamil Nadu as their primary state of
registration. It cited that Tamil Nadu is the country�s
largest number of MSMEs with an 8% share amounting to 5
million enterprises. Online sellers over license
cancellations raise concerns amid requirements for physical
presence, adding that there is a noteworthy gap between GST
procedures and their practical undertaking by authorities,
directing to challenges for legitimate sellers.
Source: https://www.taxscan.in/, May 28, 2024
Red Sea crisis: Government must come
to the rescue of MSME exporters
Logistics cost has serious implications on the country�s
manufacturing sector, export competitiveness and global
positioning. The Red Sea route, which is shorter and faster,
was the preferred choice for most shipping companies. Ships
transporting goods from major Indian ports like Mumbai and
JNPT navigated through the Suez Canal into the Mediterranean
Sea to reach various European ports depending on their
destinations. ndia was heavily reliant on this route for
trade and energy imports and due to the disruptions;
exporters here now have to diversify their trade routes.
Since the security situation in the Red Sea has started
getting worse, it has resulted in higher insurance rates and
more travel time for the exporters. Major shipping companies
like Equinor and Maersk have increased their costs which is
hitting the Indian companies very hard. Disruption in
freight services consequent to the deluge and almost a 50
per cent increase in air freight charges have affected the
export of perishable goods like vegetables, flowers, fruits,
and eggs to the UK, the US and among other parts of the
world.
Source: By Manguirish Pai Raiker, https://www.financialexpress.com/,
May 26, 2024
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ELCINA EVENTS , ACTIVITIES & SERVICES
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ELCINA Publications
https://elcina.com/roadmap-for-developing-pcb-eco-system-in-india |
Roadmap For Developing PCB
Eco-System in India
Key Findings
-
Indian PCB market and industry size in terms of
domestic production, exports, and imports
-
Growth drivers and challenges (needs & gaps) in
the Indian PCB industry
-
Growth potential of PCB manufacturing in India
and identify enablers for creating &
strengthening the domestic value chain
-
Key inputs required viz. investments,
technology, and infra eco-system
Details of key PCB value chain players � global and
domestic, who can be invited to invest to establish
a strong PCB industry |
|
https://elcina.com/ems-task-force-report-on-market-industry-analysis-of-ems-sector-in-india |
EMS Task Force Report
Key Findings
-
Currently EMS Industry (Contract Manufacturing
Services) are valued 832 Bn $ and are projected
to grow 1055 Bn by 2025.
-
Domestic electronics manufacturing is estimated
at USD 75 Bn of which 39 Bn constitutes EMS
value. This is divided into 23.5 Bn domestic
Mfg. and USD 15.5 Bn PCBS/Sub-Assembly imports.
-
Further USD 53.5 Bn is finished Electronic Goods
imports of which USD 17 Bn is EMS value. Thus
total EMS opportunity loss is US$ 32.5 Bn (15.5
+17).
-
The report estimates that EMS production can
grow realistically from USD 23.5 Bn today to USD
152 Bn by 2025 at CAGR of 45%. This will meet
75% of the countries EMS requirement of US$ 203
Bn by 2025 against a total estimated market of
400 Bn.
|
|
https://elcina.com/elcina-task-force-report-on-electronic-components |
ELCINA Task Force Report on
Electronic Components
Key
Findings
-
Current status of component manufacturing in
India � Areas of competence vs Gaps and
inadequacies
-
Components which urgently require investments
and growth in domestic manufacturing
-
Emerging technology and new components for
upcoming opportunities
-
Constraints and bottlenecks to be addressed
-
Overcoming Policy constraints, WTO (ITA-1)
deadlock and Zero Duty issue
-
Strategy for overcoming these constraints
-
Eco-System requirements- Role of Central and
State Governments
|
|
https://elcina.com/elcina-directory-of-indian-electronics-industry |
ELCINA Directory of Indian
Electronics Industry 2023-24
Description
-
ELCINA Directory of Indian Electronics Industry
� includes the updates on Indian Electronics
Industry and a host of additional improved
features covering business environment,
statistical industry scan, company databases
plus various projections. This handy compendium
with its easy-to-read format attracts the
attention of a growing number of users (within
India and abroad)
-
Apart from electronics industry, the users of
this Directory range from financial
institutions, commercial banks, FIIs,
Consultancy organizations as well as industry
promotion institutes across the world�.
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FORTHCOMING EVENTS & GENERAL INFORMATION
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A newsletter published by ELCINA, New
Delhi. The information contained in this newsletter
is for private circulation only. Despite our best
efforts, some errors could have crept in. You are
advised to verify authenticity of the information
before further use.
Electronic Industries Association of India (ELCINA
)
ELCINA House, 422 Okhla Industrial Estate,
Phase-III, New Delhi 110020 (India).
E-Mails:
info@elcina.com
Tel: 011-41615985,
41011291,
Website:
www.elcina.com
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