India: Karnataka factory inspectors find workers’ abuse at the Wistron iPhone plant
An enquiry initiated by the state government of Karnataka in southern India found grave violations of labour laws by the Taiwanese multinational Wistron Corporation.
The investigation came after an uprising by Wistron workers at the Narasapura plant over nonpayment of wages. The plant, which manufactures iPhone 7 and iPhone SE for Apple, is located about 55 km from the state capital Bengaluru (formerly Bangalore).
Apple CEO Tim Cook mingles with Indian politicians (Courtesy Apple Insider)
Outrage at the plant boiled over on December 12 after management slammed the door in the face of workers requesting payment of back wages, which have accumulated for three months or more for some even as they are forced to work 12-hour shifts. The provocation triggered a violent reaction from thousands of workers, who laid waste to managers’ offices and overturned their vehicles.
Updated Dec 18, 2020 | 14:43 IST
Indian economy 2020: The Great Lockdown 2020 did what the Great Recession 2008 could not: Indian economy entered an unprecedented technical recession with contraction in three subsequent quarters of FY21. Finance Minister Nirmala Sitharaman (Source: PIB) | Photo Credit: Twitter
The Indian economy wasn’t exactly in the pink of health when coronavirus struck. It had been cooling off since the fourth quarter (Q4) of the financial year 2018-19 (FY 2019).
Having lost world’s fastest-growing tag well before the pandemic in Q4 FY19, India’s gross domestic product (GDP) expanded at its slowest pace since the 2008 financial crisis at 4.2% in the financial year 2019-20 (FY20) which followed.
How can India’s ‘Atmanirbhar Bharat’ growth strategy boost bilateral trade with New Zealand? Wednesday, December 16, 2020 Mukul Asher and Rahul Sen
India’s
Atma Nirbhar Abhiyan (ABA) growth strategy has the potential to substantially expand trade, investment, and cross-border manpower flows, as it lays the foundations for higher and more broad-based and resilient growth of the Indian economy.
Given that the Covid-19 pandemic has underscored the urgency of not being over-reliant on one economic partner, and not becoming over-dependent on narrowly- based elaborate supply and logistic chains, India’s post Covid economic recovery plan is already guided by this core strategic concept.
Foreign investors stock up on Indian equities with record Rs 1.4 lakh.
Foreign investors stock up on Indian equities with record Rs 1.4 lakh cr net inflow; dump debt securities
NEW DELHI, Dec 13: Excess liquidity, attractive valuations and weakness in the US dollar propelled foreign investors to flock to the Indian stock market in a big way with the highest-ever net inflow of Rs 1.4 lakh core in 2020, but they also dumped debt securities worth a record amount amid pandemic-driven stress in the economy.
The foreign portfolio investors (FPIs) have made a net outflow of a little over Rs 1 lakh crore in 2020 so far, though hybrid instruments witnessed a net inflow of more than Rs 10,000 crore, as per the latest data available with depositories.
Foreign investors stock up on Indian equities with record ₹1 4-tn net inflow livemint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livemint.com Daily Mail and Mail on Sunday newspapers.