#makeinIndia

India inches closer to becoming global player in semiconductors as Vedanta-Foxconn choose Gujarat to invest Rs 1.54 lakh crore, read details

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The Vedanta Group and Foxconn, a Taiwanese electronic manufacturing powerhouse, have announced plans to establish a massive semiconductor manufacturing facility in Gujarat. Anil Agarwal, the chairman of Vedanta Group, announced the news on Twitter. “Happy to announce that the new Vedanta-Foxconn semiconductor plant will be set up in #Gujarat. Vedanta’s landmark investment of 1.54 lakh crores will help make … Read more

Make India Make: With Atmanirbhar Bharat initiative, India can enter the take-off stage of national economic growth

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Today India as a nation-state is looking upwards, there is a positive mood, and the economy is moving Northwards. Stock markets are good and GDP growth is getting a thumbs up from economists and rating organizations across the world. We have a very healthy FOREX reserve. We have done a great job in IT, ITES, like BPO … Read more

India becomes atmanirbhar in the toy industry, imports from China reduces by over 70% in recent years

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As part of the Local for Vocal initiative, India is making a strong course correction in the toy manufacturing ecosystem. The country’s massive toy demand was till recent years met mainly through imports, largely from neighbouring China. India’s toy imports from China have reduced by an estimated 70 per cent over the recent years. Policy … Read more

Amazon Web Services to invest over 1 lakh crore in cloud infrastructure in India by 2030

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Amazon Web Services (AWS) on Thursday announced it plans to invest USD 12.7 billion (Rs 1,05,600 crore) in cloud infrastructure in India by 2030 to meet growing customer demand for cloud services in India. This investment is estimated to contribute USD 23.3 billion (Rs 1,94,700 crore) to India’s total gross domestic product (GDP) by 2030, … Read more

20% TCS on international credit cards: What it is, why it was needed, and how it will impact foreign visits – everything you needed to know

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A new rule introduced by the finance ministry over the use of credit cards has created quite a storm, which introduces 20% TCS (Tax Collected at Source) over the use of credit cards for international purchases. This was done by including the foreign spending on credit cards in the RBI’s liberalised remittance scheme (LRS). On 16 May, … Read more

India saved at least USD 7 billion in foreign exchange in 14 months by importing discounted Russian crude oil

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In May 2023, India completed 14 months of ramping up discounted Russian crude oil imports. According to an exclusive report by the Indian Express, in this period, India saved at least USD 7.17 billion in foreign exchange. Data shows that the total oil import during this period was worth USD 186.45 billion. If India had paid the … Read more

Tesla signs deal with Tata Electronics to make semiconductor chips for its global operations: Report

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EV giant Tesla has signed a strategic deal with Tata Electronics to procure semiconductor chips for its global operations, as reported by The Economic Times. As per the report citing official sources aware of the development, the deal was signed quietly a few months ago. However, both Tesla and Tata Electronics have not commented on these developments. Consequently, specific … Read more

CPI-based retail inflation eases to a 10-month low, stands at 4.85% for March 2024, Industrial output at a 4-month high

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In a development that signals positive momentum for the Indian economy, India’s retail inflation witnessed a notable easing. It has come down to a 10-month low of 4.85% on an annual basis in March 2024, according to data released by the Ministry of Statistics and Programme Implementation on 12th April. The Consumer Price Index (CPI)-based retail inflation … Read more

Defence Ministry issues ₹65,000 crore tender to Hindustan Aeronautics for purchasing 97 made-in-India LCA Tejas Mark 1A fighter jets

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The Defence Ministry has issued a tender to the public sector firm Hindustan Aeronautics Limited for purchasing made-in-India 97 LCA Mark 1A fighter jets expected to be worth over Rs 65,000 crore. This is set to be the largest order for indigenous military hardware to be placed by the Indian government ever. The tender was … Read more

99.2% of all mobiles sold in India are ‘Made In India’ now: Minister Ashwini Vaishnav reviews meteoric growth of phone manufacturing in India

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Minister of Electronics and Information Technology, Ashwini Vaishnav, took to social media platform X to announce achievement in the mobile industry. In a post, he revealed that the Indian mobile industry has experienced exponential growth, expanding by a remarkable factor of 20 in just nine years. Minister Vaishnav posted on X, “Met Mobile industry to … Read more