Search Result for : Electronics Manufacturing

The Dollar Business Bureau Salzer Electronics, a leading name in the field of electrical products manufacturing, said on Monday that it is looking at a compound annual growth rate (CAGR) of 15% and aims to become a Rs.1,000 crore firm by 2021, following technology alliances globally and augment the share of value-added products. “We expect Rs.430 crore turnover by FY 18, Rs.520 crore by FY 19 and intend to emerge as a Rs.1,000 crore company by 2021,” R Doraiswamy, Managing Director of Salzer Electronics told PTI. “We believe that revenues from our existing products are expected to grow at a 15% CAGR during this period. Going forward the company’s focus is to achieve profitable growth by adding newer products, which are customised and ...

The Dollar Business Bureau  Andhra Pradesh will create about two lakh jobs in the field of electronics manufacturing and information technology (IT) sector in the coming two years, said the state’s IT minister Nara Lokesh. “In order to fulfil the target, the focus will be on manufacturing medical devices, in addition to the manufacturing of consumer durables and mobile phones” Lokesh, who is the son of Chief Minister N Chandrababu Naidu and holds the portfolio of Panchayati Raj said. He met Ravi Shankar Prasad, Union Minister for Information Technology on Wednesday and asked for his assistance in a variety of IT-related projects which are in the pipeline and have the possibility to create jobs. “The Union minister assured us help as Andhra Pradesh is growing fast in both the ...

The Dollar Business Bureau          The IT industry should help India build a $1 trillion digital economy within four years by creating affordable technology and an inclusive environment, Union Minister Ravi Shankar Prasad said today at the High Level Round Table with Pioneers of Industry for developing the roadmap for ‘One Trillion Dollar Digital Economy of India’, organised by MeITY, in New Delhi. Highlighting multi-billion dollar opportunities that exist in areas like IT and IT enabled services, e-commerce, electronics manufacturing, digital payments and cyber security, he said that achieving $ 1 trillion digital economy is not a "tall claim". "I don't have any doubt that it will become $1 trillion in 7 years. My humble request is why wait for 7 ...

The Dollar Business Bureau Refuting the claims of any slowdown in the Indian IT sector, Law and IT Minister Ravi Shankar Prasad said on Tuesday that the sector will generate 25-30 lakhs jobs by 2025. “As (the) IT minister of the nation, I completely deny and refute that there is any downturn in the employment in this sector. It is robust, slated for great growth and once digital economy ushers then you can fathom its development,” said Prasad, while sharing the achievements of the Ministry of Electronics and IT in the past three years. The Minister said that the IT companies in India have created 6 lakh jobs in the past three years. “IT firms directly employ around 40 lakh people and about 1.3 crore indirectly. ...

The Dollar Business Bureau On Wednesday, the Cabinet Committee on Economic Affairs approved a foreign investment proposal of Rs 9000 crore, put forward by Twin Star Technologies. The FDI proposal is expected to generate employment opportunities for 30,000 people in India.  According to the proposal, the Mauritius based company will invest the said amount in India on or before March 2025. The investment route will comprise a mix of equity, compulsorily convertible preference shares, compulsorily convertible debentures, and other FDI compliant instruments.  The proceeds of the investment will flow towards operations of Twin Star Technologies in India – a venture led by business magnate Anil Agarwal who is also the founder and Chairman of Vedanta Resources Plc. Vedanta’s business interests in India include ...

The Dollar Business Bureau Electronics and Information Technology Minister Ravi Shankar Prasad said on Wednesday that with a focus on the electronics manufacturing in the country, the Government of India has planned to establish electronics clusters in 400 cities and towns across India. The electronics manufacturing market in India would be around $400 billion by 2020, said Prasad while speaking at Pravasi Haryana Diwas 2017, in Gurugram (Haryana). The Minister praised the initiatives taken by Haryana’s Chief Minister of Manohar Lal Khattar and his government to encourage IT services in the state. He said that when he took over the charge of his Ministry, India’s exports were Rs.11,000 crore which now gone up to Rs.1,26,000 crore at the end of December 2016. Prasad further said that Indians are passionate about technology and ...

The Dollar Business Bureau  February 30, 2016, is a double celebration day for LeEco India. Within just 8 months of operations in India, the global internet technology conglomerate has proudly announced the launch of its first state-of-the-art smartphone manufacturing facility in Greater Noida, India.  This swift alignment with the Government’s Make in India initiative is a reaffirmation of LeEco’s commitment to India and its long-term plans for the country. The facility has been set up at a significant investment of 5 million USD and a further 2 million USD has been earmarked for the automation process.  The technology giant has collaborated with leading electronics manufacturer Compal Electronics to set up this facility in the country. The official launch of plant operations was ...

The Dollar Business Bureau In order to enhance electronic products manufacturing, India’s policy think tank NITI Aayog is expected to seek approval of the Union Cabinet within 15 days for a long-term policy, which will offer a host of incentives such as tax holiday for attracting investments. Seeing a great potential in electronics manufacturing segment, NITI Aayog has drafted a strategy paper on ‘Make in India - Strategy for Electronic Products’. In May this year, the Aayog had put up the paper for comments in a public domain. The general public and the stakeholders were asked to provide their comments and views by June 30, 2016. The think tank had suggested a tax holiday of 10 years for firms investing more than $1 billion in the ...