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Govt to set up SPV to create ecosystem for India-made aircraft | Mint
Livemint
·
11m ago
Medial
The Indian government intends to establish a special purpose vehicle (SPV) to develop an aircraft manufacturing ecosystem within the next five years. The SPV aims to boost the production and export of locally made planes, according to the civil aviation minister. While India's civil aviation manufacturing sector is still in its early stages, the government hopes to collaborate with global original equipment manufacturers such as Airbus and Boeing to gain expertise. These plans coincide with India's fast-growing aviation market, which has significant potential for growth.
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ET World Leaders Forum | Govt to launch new scheme for domestic electronics component manufacturing says Vaishnaw
Economic Times
·
11m ago
Medial
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.
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Govt examining scheme for 'made in India' label
YourStory
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10m ago
Medial
- 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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Pakistan to get 40 more Chinese J-35 stealth jets soon: What are its capabilities and should India be concerned?
Economic Times
·
1m ago
Medial
China is set to supply Pakistan with 40 J-35 stealth jets, enhancing Pakistan’s military capabilities and elevating its Air Force. The J-35 is a fifth-generation aircraft featuring advanced stealth technology and radar capabilities. These jets, expected to be delivered by year’s end, pose strategic concerns for India, which lacks similar fifth-generation aircraft. India is considering upgrades and exploring options like the Advanced Medium Combat Aircraft (AMCA) to maintain military parity.
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Foxconn plans to invest ₹424 crore in semiconductor JV with HCL | Mint
Livemint
·
10m ago
Medial
- Foxconn plans to invest up to ₹424 crore in a semiconductor joint venture (JV) with HCL Group. - The iPhone manufacturer purchased a 40% stake in the JV for nearly ₹312 crore. - The investment will be used for the Foxconn-HCL OSAT plant to be set up in India. - Foxconn has invested ₹246 crore in the JV through its subsidiary Big Innovation Holdings. - The company has invested more than $1.4 billion in India and employs over 48,000 people in the country. - Foxconn is manufacturing Apple iPhones in India and has plans to set up an EV and battery plant in the country.
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Telangana Govt In Talks With Tesla To Build EV Plant
Inc42
·
1y ago
Medial
Tesla Motors is reportedly sending a team to India later this month to search for potential locations for its first factory in the country. The Telangana government is in talks with Tesla about setting up the facility in the state, which has been actively seeking investment opportunities from global companies. The team will scout locations in Maharashtra, Gujarat, and Tamil Nadu. This comes after the Indian government approved a new policy offering lower import duties on electric vehicles if companies set up manufacturing facilities in the country. Tesla has also started production in Germany for cars to be exported to India.
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Govt to expand EV ecosystem to support charging infra: FM Sitharaman
Economic Times
·
1y ago
Medial
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.
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Why IndiGo cannot sit back and relax with IndiGoStretch | Mint
Livemint
·
1y ago
Medial
Indian airline IndiGo has announced the launch of its business class offering, called 'IndiGoStretch'. The airline will introduce this service on select routes in India by the end of the year. The business class seats will be available on A321neo aircraft, alongside the existing 208 economy-class seats. IndiGo has also restructured its delivery of A320neo and A321neo aircraft to accommodate the new service. Booking for the business class seats is now open for six flights a day, with plans to increase to 12 sectors connecting major cities in India.
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SpiceJet’s Ajay Singh likely to sell more than 10% stake to raise funds | Mint
Livemint
·
11m ago
Medial
SpiceJet's Chairman and Managing Director, Ajay Singh, is expected to sell over a 10% stake in the airline as part of a funding round set to conclude by the end of September. The budget airline operator is facing financial and legal challenges, as well as the grounding of aircraft. The company aims to raise funds to meet its financial obligations. Singh may sell up to 15% of the company's stake if certain conditions are met. The funding round is expected to raise around ₹2,000 crore and discussions have been held with potential investors.
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Govt needs to boost financial support to startups: Snapdeal founder
Economic Times
·
1y ago
Medial
The government needs to increase financial support for the startup ecosystem in order to create a pool of domestic capital for new age businesses, according to Kunal Bahl, cofounder of Titan Capital and founder of Snapdeal. The government's Fund of Funds has invested in 140 domestic funds, but Bahl believes that the allocated amount of $1.2 billion over 10 years is too small for a nation of India's ambition and size. He suggests that the government should provide Rs 5,000 or Rs 10,000 crore annually to fuel the ecosystem. This conversation about boosting capital comes at a time when the startup ecosystem is experiencing a slowdown, with a majority of ownership in startups beyond Series C belonging to overseas funds. The government is reportedly working on a framework to reduce investment risks for local pension funds and insurers in the startup sector.
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Budget 2025: Govt cuts income tax in a bid to boost consumption
VCCircle
·
6m ago
Medial
In Budget 2025, India reduced personal income tax rates for certain individuals to encourage consumption, as the economy is set to grow at its slowest pace in four years. Under a new system introduced in 2020, income up to 1.5 million rupees was taxed between 5% and 20%, while above that was taxed at 30%. Now, annual income up to 1.2 million rupees will not be taxed, aiming to stimulate economic activity.
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