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[1/2] Apple iPhones are seen inside India's first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. While all manufacturers including Samsung (005930.KS) have agreed to India's plan, Apple is pushing back. Apple, whose India lobbying efforts are being reported for the first time, and India's IT ministry, did not respond to Reuters requests for comment. Renowned Apple analyst Ming-Chi Kuo has estimated 12-14% of iPhone production in 2023 will be from India, with the number set to rise to as much as 25% next year. In terms of market share, Apple accounts for 6% of India's booming smartphone market, compared with just about 2% four years ago.

Persons: Francis Mascarenhas, Apple, Narendra Modi, Ming, Chi Kuo, Prabhu Ram, Aditya Kalra, Susan Fenton Organizations: Apple, REUTERS, DELHI, European Union, Samsung, India's, Reuters, IT, Research, Indian, Consumers, Industry Intelligence, CyberMedia, Thomson Locations: Mumbai, India, New Delhi, U.S, KS, EU, PLI, China

☆ HP, Dell and Lenovo among 27 firms granted approval to manufacture tech hardware in India under incentive scheme
▼ + stars: | 2023-11-21 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

Chinas Realme closing in on market leaders Xiaomi, Samsung, yet hurdles loom in treacherous market where many stumbled. Under the PLI Scheme 2.0 for IT hardware, which was approved by the government in May, India will provide companies incentives for goods manufactured in the country. The Indian IT hardware market is expected to grow to $22.77 billion in 2027 from $15.52 billion in 2022. "The IT Hardware manufacturing sector faces the lack of a level playing field vis-à-vis competing nations ... There is need for a mechanism to compensate for the manufacturing disabilities vis-à-vis other major manufacturing economies," according to the ministry.

Persons: Chinas, Anindito Mukerjee, Vaishnaw Organizations: Xiaomi, Samsung, Bloomberg, Getty Images, Dell, HP, Lenovo, Asus, Ministry of Electronics, of Railways, Communications, Electronics Locations: Greater Noida, India, Indian

☆ India says Dell, HP among 32 firms that applied to make laptops locally
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +1 min

A person looks at a Dell laptop for sale in a store in Manhattan, New York City, U.S., November 24, 2021. Prime Minister Narendra Modi's government is pushing to boost domestic manufacturing capacity under its "Make in India" initiative, with several global companies either setting up their own units or entering joint ventures with Indian firms. The applications by the electronics companies were made under the country's $2 billion production-linked incentive (PLI) programme for information technology hardware, announced in May, Information Technology Minister Ashwini Vaishnaw said. Earlier this month, India said it would impose a licensing requirement for imports of laptops, tablets and personal computers, which was widely seen as a move to boost local production. ($1 = 82.5855 Indian rupees)Reporting by Blassy Boben; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Narendra Modi's, Ashwini Vaishnaw, Blassy, Jonathan Oatis Organizations: REUTERS, DELHI, Information Technology, Hewlett Packard Enterprise Co, Dell Technologies, Asus, Lenovo, HK, Reuters, Thomson Locations: Manhattan , New York City, U.S, India

☆ India's economy to hold top spot for GDP but not so much for jobs growth: Reuters poll
▼ + stars: | 2023-07-24 | by ( Milounee Purohit | ) www.reuters.com time to read: +3 min

The world's most populous country aspires to leapfrog to the status of a developed nation, riding on the unprecedented demographic dividend, which demands an annual gross domestic product (GDP) growth rate of around 8% for the next 25 years. It was forecast to grow 6.5% next fiscal year, with expectations of 6.2% growth this quarter, followed by 6.0% and 5.5%. "I think 6.0% to 6.5% is a very achievable and a very conservative forecast for India's growth trajectory," Nim added. The remaining six said the PLI scheme, which allocated billions of rupees as incentives from the Union budget in 2023-24, will have no impact. While India has a lot more ground to cover to replace China as the world's manufacturing hub, some economists acknowledged the PLI scheme was a step in the right direction.

Persons: Dhiraj Nim, Nim, Ajay Banga, Radhika Piplani, PLI, Piplani, Suman Chowdhury, Milounee Purohit, Susobhan Sarkar, Veronica Khongwir, Hari Kishan, David Holmes Organizations: ANZ Research, World, Capital Advisors, Union, Thomson Locations: BENGALURU, China, People's Republic, India

☆ Indian government meets Foxconn, Samsung, Reliance to improve PLI scheme
▼ + stars: | 2023-06-28 | by ( Shivangi Acharya | ) www.reuters.com time to read: +2 min

REUTERS/Carlos Garcia RawlinsNEW DELHI, June 28 (Reuters) - The Indian government met large global firms such as Foxconn (2354.TW), Samsung Electronics (005930.KS) and Reliance Industries (RELI.NS) to find ways to boost manufacturing in the country with its production-linked incentive (PLI) scheme. The PLI scheme, introduced in late 2020, is Prime Minister Narendra Modi's main industrial policy to boost manufacturing. The government has so far announced incentives for 14 sectors including electronics and technology products, pharmaceutical drugs, and drones, among others, drawing investments totalling 625 billion Indian rupees ($7.62 billion) until March 2023, per the statement. Investments under the PLI scheme are expected to rise further to 2.74 trillion rupees as it runs its course, according to government estimates. With more than 1.97 trillion rupees earmarked for incentives, payouts totalled 29 billion rupees until fiscal 2023 across eight industries.

Persons: Carlos Garcia Rawlins, Piyush Goyal, Narendra, Shivangi Acharya, Janane Organizations: REUTERS, Samsung Electronics, Reliance Industries, India's Trade, Dell, Nokia Solutions, Investments, Thomson Locations: Taipei, Taiwan, DELHI, New Delhi

☆ India Budget 2023: Here's what the experts say
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +13 min

"This budget, therefore, has rewritten the rules for financilisation of savings in India, which will induce expenditures rather incentivise savings. LAKSHMI IYER, CEO-INVESTMENT ADVISORY, KOTAK INVESTMENT ADVISORS LTD"India budget 2023 has offered a multi-dimensional view. The 3 Cs which stand out are - Capex increase - consumption boost - capital gains tax status quo. Additionally, the budget has provided significant direct tax benefits to individuals which will help increase disposable income and support spending. The budget keeps in mind the needs of future India while focusing on Artificial Intelligence and machine learning.

☆ Rise in Indian corporate lending signals new investment cycle
▼ + stars: | 2022-11-21 | by ( Ira Dugal | ) www.reuters.com time to read: +5 min

Private investment in India was constrained for years by heavy indebtedness of companies and banks and by weak demand. SBI expects its stock of corporate loans to rise by between 14% and 15% this year and by 12% a year on average in 2023 and 2024. read moreAcross India's banking sector, lending has been rising steadily. Muralikrishna, chief general manager for large corporate lending at Bank of Baroda (BOB.NS), India's second-largest state-owned lender. Dixon Technologies (DIXO.NS), an electronics manufacturer with annual revenue of about 150 billion rupees ($1.85 billion), will receive incentives under the scheme for setting up facilities in five sectors, including electronics. Already, October exports were lower than a year earlier, and Nomura economists cautioned in a note this week that India's investment cycles were closely linked to its export cycles.

☆ Incendiu major la o fabrică de mase plastice din Thailanda: 1 mort și cel puțin 27 de răniți
▼ + stars: | 2021-07-05 | by ( ) www.jurnal.md time to read: +10 min

Thousands of terrified residents living within a five-mile radius of the factory were evacuated amid fears of a second explosion. Most of the injuries were caused by the explosion and the glass shattering. Most of the injuries were caused by the explosion and the glass shattering. Thousands of terrified residents living within a five-mile radius of the factory were evacuated amid fears of a second explosion. Most of the injuries were caused by the explosion and the glass shattering.

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