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"The government has allocated Rs 4,600 crores to sustain PMKSY, and recently, the allocation of an additional Rs 920 crores to PMKSY reaffirms its commitment to sector growth and development. Our government always stands ready to support technological advancements and competitiveness whenever the need arises," he added.

IT Hardware: The companies will have to submit a detailed and graded roadmap of make-in-India plans for products to government.

Ecommerce Growth: The order volume growth of India’s ecommerce industry slowed from 69.4% in fiscal year 2022 to 26.2% in FY23, according to data from ecommerce enabler Unicommerce.

Indias smartphone shipments dropped by 6% YoY in Q2 2023, per a report from CyberMedia Research. However, affordable phones priced under INR 7,000 ($93) grew 51% YoY, and premium smartphones recorded shipments growth of 9% YoY, with super-premium and uber-premium devices growing by 95% and 133% YoY, respectively.

India Rice Export: The export ban on non-basmati rice is expected to aid basmati producers through higher realisation and lower working capital requirements, says Ind-Ra.

Pulses Price Hike: Several factors have contributed to the shortage of tur dal in the market. Firstly, farmers are gradually shifting away from pulses cultivation to high-value cash crops, leading to a decrease in production. Additionally, unseasonal rains also effected the crop.

Food Corporation Of India: Wheat procurement has reached 26.2 million tonnes so far in the 2023-24 rabi marketing year (April-March), more than the last years total procurement of 18.8 million tonnes. "With the current procurement of wheat and rice, adequate food grains stock in government granaries is maintained," the ministry said in a statement.

As per the report the global production volume of smartphones in the first quarter of 2023 was just 250 million units—marking a 19.5% YoY decrease. “This represents not only the greatest annual decrease but also a historic low in quarterly production since 2014,” notes the report by Trendforce.