“Make in India” could start to live up to its motif of a lion on the prowl. Local and foreign companies are queuing up to tap incentives for creating large onshore manufacturing capacity in electronics, solar panels, pharmaceuticals, advanced batteries, specialty steel and more. Samsung Electronics (005930.KS), Apple suppliers, and local tycoons will claim a share of benefits worth as much as $27 billion. The enthusiasm for Prime Minister Narendra Modi’s gambit to spur production is striking after years of false starts to find India space on the world’s factory floor.
suppliers, and local tycoons will claim a share of benefits worth as much as $27 billion. The enthusiasm for Prime Minister Narendra Modi’s gambit to spur production is striking after years of false starts to find India space on the world’s factory floor.
The new “Production-Linked Incentive” scheme attempts to compensate for those costly inefficiencies. New Delhi approved the first set of local and foreign applicants in October for electronics and is busy expanding the initiative to new sectors. Beijing can wreak economic havoc in India. Shipments get delayed in retaliation when border tensions flare up, and the risk of disruption is growing. Imported components - where China is a top supplier – account for about 80% of India’s local demand for IT hardware, solar panels, and telecom network kit; 40% of its consumption of pharmaceutical ingredients, and more than one fifth of its consumption of alloy steel and auto components, per Enam Asset Management.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
India batsman Rahul fined 15% of match fee for dissentIndia opener KL Rahul was fined 15% of his match fee for protesting against the umpire's decision during his dismissal in the fourth test against England, the International Cricket Council said on Sunday.
Read more »
India charges late Kashmir leader's family under anti-terror lawThe family of a separatist icon from Indian-administered Kashmir have been charged under a sweeping anti-terrorism law for allegedly chanting anti-New Delhi slogans and wrapping his body with Pakistan's flag after he died, officials said.
Read more »
Kashmir leader's family charged under India anti-terror lawSRINAGAR, India (AP) — Police in Indian-controlled Kashmir charged family members of late resistance leader Syed Ali Geelani under a harsh anti-terror law for raising anti-India slogans and wrapping his body in the Pakistani flag, officials said Sunday.
Read more »
India brings terror charges on Kashmir leader Geelani's familyIndia charges family of Kashmir leader Syed Ali Geelani with harsh anti-terror law. Pakistan PM Khan slams 'snatching' of Geelani's body and terror cases against his family, calling it 'another shameful example of India's descent into fascism'
Read more »
Rohit hits century as India take control of Oval testA dominant India took control of the fourth test against England at The Oval on Saturday, extending their lead to 100 by tea on the third day as Rohit Sharma struck his first test hundred away from home and eighth overall.
Read more »
India probes Kashmir leader's family under anti-terror lawPolice in Indian-controlled Kashmir opened a case against family members of late resistance leader Syed Ali Geelani under a harsh anti-terror law for allegedly raising anti-India slogans and wrapping his body in the Pakistani flag, officials said Sunday. Geelani, who died Wednesday at age 91, was the emblem of Kashmir’s defiance against New Delhi and had been under house arrest for years.
Read more »