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Govt examining scheme for 'made in India' label

YourStory

YourStory · 9m ago

Govt examining scheme for 'made in India' label

- The Indian government is discussing the formulation of a scheme for the 'made in India' label to promote the country's brand globally. - A high-level committee is examining the details of the scheme to create a strong brand identity similar to 'made in Japan' or 'made in Switzerland'. - Discussions are underway to determine if the scheme should be specific to certain sectors like textiles, where India has strength. - Quality consciousness is crucial for promoting Brand India, and consistent product quality and reliability should be a priority. - India could establish a unified brand called 'India Quality Product' to signal excellence and reliability, starting with traditional sectors like garments and handicrafts. - Once confident in product quality, India could aggressively promote its brands, as China did in the electronics sector.

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Investment Of INR 8,803 Cr Made Under Electronics Manufacturing Scheme As Of June: Govt

Inc42 · 11m ago

Investment Of INR 8,803 Cr Made Under Electronics Manufacturing Scheme As Of June: Govt

The government has provided an update on the investment made in the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors. As of June 30, the scheme has resulted in a production worth INR 18,083.55 Cr (over $2.1 Bn). Additionally, the PLI scheme for large scale electronics has made an investment of INR 8,390 Cr under the scheme as of the same date.

Govt Panel Inspecting Chinese FDI Inflow Into Paytm Payments Services

Inc42 · 1y ago

Govt Panel Inspecting Chinese FDI Inflow Into Paytm Payments Services

The Indian government is currently examining the foreign direct investment (FDI) from China into Paytm Payments Services Ltd (PPSL), a subsidiary of Paytm's parent company, One97 Communications Ltd. The decision on the FDI issue will be made after a comprehensive examination and thorough consideration by an inter-ministerial committee. The examination is being conducted in compliance with the guidelines outlined in Press Note 3 under the FDI rules, which mandate prior approval for investments from countries sharing a land border with India.

ET World Leaders Forum | Govt to launch new scheme for domestic electronics component manufacturing says Vaishnaw

Economic Times

Economic Times · 10m ago

ET World Leaders Forum | Govt to launch new scheme for domestic electronics component manufacturing says Vaishnaw

The Indian government is set to launch a scheme to develop a sustainable electronics component ecosystem in the country. The scheme aims to attract investment and boost domestic production of electronic components. The government plans to allocate up to Rs 40,000 crore for the scheme, with expectations of attracting around Rs 82,000 crore in investments. The goal is to encourage the manufacturing of electronic components, similar to the progress made in mobile and electronics manufacturing in India. The government also aims to focus on infrastructure development, including physical, digital, and social infrastructure.

Govt approves PLI for electronics components; industry applauds

Inshorts · 3m ago

Govt approves PLI for electronics components; industry applauds

The Union Cabinet approved a ₹22,919 crore PLI scheme for electronics components, boosting the 'Make in India' initiative and strengthening manufacturing. Industry associations like IESA, FAIITA, and companies like HCL have welcomed the move, signaling positive growth for India’s electronics sector. The scheme is expected to drive innovation and job creation.

Australia to create advisory body to tackle risks of AI

Reuters · 1y ago

Australia to create advisory body to tackle risks of AI

Australia announced plans to establish an advisory body to address the risks associated with artificial intelligence (AI) and increase oversight of the technology. The government aims to work with industry bodies to develop guidelines, including encouraging technology companies to label and watermark AI-generated content. Australia's initial guidelines will be voluntary, while other jurisdictions like the EU have made their AI regulations mandatory. The government plans to release a comprehensive response later this year after examining over 500 responses received during a public consultation on AI.

Govt to expand EV ecosystem to support charging infra: FM Sitharaman

Economic Times

Economic Times · 1y ago

Govt to expand EV ecosystem to support charging infra: FM Sitharaman

In the budget for 2024, Finance Minister Nirmala Sitharaman announced plans to expand the electric vehicle ecosystem in India. The government aims to support the manufacturing and charging infrastructure for electric vehicles, with a focus on encouraging the use of e-buses in public transport networks. The blending of compressed biogas into compressed natural gas and the use of piped natural gas will also be made mandatory. Additionally, a biomanufacturing and bio foundry scheme will be launched to promote environmentally-friendly alternatives for production.

Deep tech startup policy likely in forthcoming Budget

Economic Times

Economic Times · 1y ago

Deep tech startup policy likely in forthcoming Budget

The commerce and industry ministry is considering the proposal of a dedicated policy for deep tech startups to encourage innovation, which may be part of the upcoming Budget. This move aims to address the challenges faced by deep tech startups and create an ecosystem that fosters their growth. The policy would focus on promoting research and development, intellectual property rights, funding, infrastructure, standards, and capacity building. The government is expected to announce the full Budget for 2024-25 in July, following the formation of a new government. Additionally, a "Made in India Label Scheme" is also anticipated to be proposed to support domestic manufacturing.

Paytm crisis: Govt panel examining Chinese FDI flow into PPSL, says report

Livemint

Livemint · 1y ago

Paytm crisis: Govt panel examining Chinese FDI flow into PPSL, says report

Paytm's application to operate as a payment aggregator was rejected by the Reserve Bank of India (RBI) in November 2022. The RBI asked the company to resubmit its application to comply with FDI guidelines under Press Note 3. Paytm's parent company, One97 Communications, has applied to the Indian Government for past downward investment from Chinese firm Ant Group to comply with FDI guidelines. An inter-ministerial committee is examining investments from China in Paytm Payments Services. The government mandates prior approval for foreign investments from countries sharing land borders with India.

Vote on EU cybersecurity label delayed to May

Economic Times

Economic Times · 1y ago

Vote on EU cybersecurity label delayed to May

National cybersecurity experts have delayed voting on a proposed EU cybersecurity label, which would allow tech giants like Amazon, Google, and Microsoft to bid for sensitive EU cloud computing contracts. The European Union aims to implement a cybersecurity certification scheme (EUCS) that validates the cybersecurity of cloud services, assisting governments and businesses in choosing secure and trustworthy cloud vendors. However, disagreements over strict requirements for Big Tech to qualify for the highest level of the EU cybersecurity label have impeded progress. The draft scheme proposed by EU cybersecurity agency ENISA in 2020 was not voted on during the recent expert meeting. Further steps involve opinions from EU countries and a final decision by the European Commission.

Ola Electric gets govt notice for missing PLI targets

Inshorts · 4m ago

Ola Electric gets govt notice for missing PLI targets

Ola's battery unit Ola Cell Technologies reportedly received government notice for failing to meet targets specified under the PLI ACC scheme. In 2022 Ola was selected for PLI scheme to establish a 20 GW local battery manufacturing facility. According to reports, Ola Electric, Reliance battery storage, among others will have to pay penalty for missing the targets under the scheme.

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