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News on Medial
Global tech manufacturers 'worried' as India's free laptop, PC import policy nears end
Money Control
·
10m ago
Medial
India's licensing norms for laptop imports, which were introduced in 2023, are set to expire at the end of September 2024. The restrictions were initially rolled back due to opposition from global laptop manufacturers such as Dell, Apple, and Lenovo. Jason Oxman, President and CEO of ITIC, expressed concerns about the future of India's import management system and urged for clarity. Oxman emphasized that global supply chains for electronics cannot be easily changed and warned that reinstating the licensing norms could cut off India from the global economy.
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India yet to decide on lower taxes for imported EVs as local firms resist Tesla
Reuters
·
1y ago
Medial
India is still undecided on whether to reduce import taxes on electric vehicles (EVs) as part of a proposed policy that aims to encourage local manufacturing and potentially facilitate Tesla's entry into the market. Indian automakers are concerned about competition from Tesla and other global car manufacturers. The proposed policy plans to slash the current 100% EV import tax to as low as 15% for companies that commit to investing and manufacturing in India. Tesla has expressed interest in building a factory in India and offering EVs at a lower price range. However, domestic industry resistance has made it difficult to reach a final decision on the matter.
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Mukesh Ambani's Jio to disrupt Indian PC market with Cloud laptop
IndianStartupNews
·
1y ago
Medial
Reliance Jio, led by Mukesh Ambani, is venturing into the PC market with a cloud laptop priced at approximately Rs 15,000. This move aims to reduce the traditional ownership costs of PCs, making them more affordable for consumers. Jio's cloud laptop will act as a "dumb terminal," with most storage and processing handled by their cloud services. The company is in talks with major manufacturers like HP, Acer, and Lenovo for the launch of this product. Jio plans to offer a monthly subscription model for its cloud laptop service, with bundled services and additional features available at an extra cost.
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Indian govt reverses its decision on laptop import restriction
IndianStartupNews
·
1y ago
Medial
The Indian government has decided not to impose restrictions on laptop imports, according to Trade Secretary Sunil Barthwal. This decision comes after facing criticism from industry players, citizens, and the US government. Previously, the government had announced plans to impose restrictions on the import of laptops, tablets, and personal computers. However, following consultations with the industry, a new order on laptop imports will be announced by the end of October.
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Blow to Tesla? Govt says not considering tax cuts or exemptions for EV imports
Inc42
·
1y ago
Medial
The Indian government has stated that there are currently no plans to provide tax cuts or exemptions for the import of electric vehicles (EVs). This announcement comes as Tesla is working to establish a manufacturing unit in India. Previously, there were reports of tax incentives being considered for automakers who commit to manufacturing EVs within the country. The move is aimed at attracting global EV manufacturers and stimulating competition in the Indian market. Tesla's CEO, Elon Musk, had criticized India's high import duties in the past but expressed excitement about the country's future recently.
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India-UK FTA to boost competitiveness of local tyre makers in British market: ATMA
Economic Times
·
10d ago
Medial
The India-UK free trade agreement significantly boosts the competitiveness of Indian tyre manufacturers by removing import duties on tyres exported to the UK. The Automotive Tyre Manufacturers' Association (ATMA) highlights that this agreement enhances Indian tyre exports' price competitiveness and market access, fostering growth. Indian tyre exports to the UK have already seen an increase, and with this agreement, the upward trajectory is expected to continue, benefiting the Indian tyre industry globally.
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44 hardware manufacturers apply for PLI scheme
Startup News FYI
·
2y ago
Medial
Amid import restrictions, 44 hardware manufacturers have applied to enter the Indian market under the Production Linked Incentive (PLI) scheme. This surge in applications reflects the growing interest of hardware companies to establish a presence in India. The PLI scheme aims to boost domestic manufacturing by providing incentives to eligible manufacturers, thereby supporting India's efforts to promote self-reliance in the sector.
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India Contemplates Five-Year Tax Cut On EV Imports To Attract Tesla
Startup News FYI
·
1y ago
Medial
The Indian government is considering tax reductions on fully assembled imported electric vehicles (EVs) for up to five years in order to attract companies like Tesla to sell and potentially manufacture EVs within the country. The government is formulating an EV policy that would allow global car manufacturers to import EVs at reduced duty rates if they commit to manufacturing EVs in India. Tesla CEO Elon Musk is expected to meet with Commerce and Industry Minister Piyush Goyal to discuss the company's plans to establish a factory in India.
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Chinese firm Infinix evaluating local manufacturing for laptops
Livemint
·
1y ago
Medial
Chinese smartphone maker Infinix is considering local production of laptops in India within a year, according to the company's CEO. Infinix, part of the Transsion Group, currently imports all the laptops it sells in the country. The brand is in talks with original design manufacturers for local production and is looking to comply with policy changes on laptop imports from next year. Other global brands, such as HP and Dell, have also ramped up their manufacturing capabilities in India. Infinix may benefit from the PLI scheme for IT hardware products if it partners with an eligible EMS player.
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Tesla CEO Elon Musk to visit India, meet PM Modi and announce investment plans: Report
Thehindubusinessline
·
1y ago
Medial
Elon Musk, the CEO of Tesla, plans to visit India in April to meet with Prime Minister Narendra Modi. During the visit, Musk is expected to make an announcement regarding Tesla's investment plans and the opening of a new factory in India. Tesla has been lobbying for lower import taxes on electric vehicles in India and has been in talks to set up a manufacturing plant in the country. India recently unveiled a new EV policy that lowers import taxes for manufacturers who invest at least $500 million and set up a factory.
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Qualcomm unveils new PC laptop chip with AI features for 2024
Economic Times
·
1y ago
Medial
In a significant move, Qualcomm has revealed its plans to launch a new PC laptop chip with advanced AI capabilities in 2024. This chip is expected to enhance the performance and efficiency of laptops, meeting the increasing demand for high-quality computing experiences. The move comes as the tech giant aims to stay at the forefront of the evolving tech industry and cater to the changing needs of consumers.
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