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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.
India's 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.