Page 27 - Tata Electronics News Today

The 21st IIM of India in Mumbai, NITIE has completed 100% placements 2024 with higher average salary at Rs.31 LPA while highest salary goes down at Rs.54 LPA

Year 2024 is expected to see robust growth in Indias electronics manufacturing sector which is set to grow 15 per cent. According to data shared by the government, domestic electronics manufacturing increased over four-fold to Rs 8.22 lakh crore or USD 102 billion in the last 10 years from Rs 1,80,454 crore (USD 29.8 billion) in FY14.

In 2023, India showcased significant potential in its pursuit of becoming a manufacturing powerhouse, with numerous large-scale projects either in the planning stages or already underway. The Production-Linked Incentive (PLI) scheme, covering 14 sectors, proved to be a catalyst, attracting investments exceeding Rs 95,000 crore by September. Here are some noteworthy milestones in Indias pursuit of local manufacturing in 2023, particularly in the cutting-edge fields of chips and telecommunications...

In July, Foxconn had proposed to set up a Rs 8,800-crore supplementary plant to that of its unit at the Devanahalli Information Technology Investment Region in Karnataka. It has also bought 300 acres in the area.

Taiwanese electronics giant Foxconn has taken a significant step towards expanding its manufacturing activity in India.

Aequs makes high-quality toys, consumer durable goods and aerospace parts in India, US and France while Rayprus is a subsidiary of Taiwanese contract manufacturing giant Foxconn and makes high-quality precision camera and lens solutions.

IPhone maker Apple is reported to be in talks with one Taiwanese and two Indian component suppliers as it looks to reduce its reliance on Chinese sources.

Apple: Aequs makes high-quality toys, consumer durable goods and aerospace parts in India, US and France while Rayprus is a subsidiary of Taiwanese contract manufacturing giant Foxconn and makes high-quality precision camera and lens solutions.

The country is rapidly becoming an electronics manufacturing hub, with the sector expected to rise to $300 billion by 2025-26. From Apple to Foxconn and US-based Micron Technologies to domestic major Tata Group, the companies are aiming to leverage domestic capabilities to achieve supply chain diversification and scale up production by manufacturing in the country.

The new incentive plan -- which is likely to be launched at the start of the next fiscal year -- will have a corpus of Rs 10,000 crore, ET has reported. It will be an updated version of the current Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS).