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PLI timeline for mobile phone manufacturing may begin in FY22


PLI timeline for mobile phone manufacturing may begin in FY22
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A change in the timeline will mean manufacturers need to post incremental production worth Rs 4,000 crore in this fiscal year, instead of Rs 8,000 crore in the second year. They will thus be able to avail of maximum incentives worth 6% during the year, experts said.
Agencies
The Centre is looking to make the country a global manufacturing hub with an export target for phones worth $100 billion over the next five years.
The government is considering making FY22 the first year of production instead of FY21 for the production-linked incentive (PLI) scheme for mobile phone manufacturing, senior government officials said. If approved, the move will bring relief to the likes of iPhone contract makers Foxconn and Wistron besides homegrown brands ....

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Foxconn in talks to buy stake in Malaysia's DNeX - report


Foxconn in talks to buy stake in Malaysia s DNeX - report
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Foxconn in talks to buy stake in Malaysia s DNeX - report
Taiwanese firm Foxconn Technology Co Ltd is in talks to acquire a stake in Malaysian technology firm Dagang NeXchange Bhd (DNeX) after losing a bid for a semiconductor maker DNeX now owns, Bloomberg reported on Thursday, citing sources.
FILE PHOTO: A sign of Foxconn is seen inside its office building in Taipei, Taiwan November 12, 2020. REUTERS/Ann Wang/File Photo
27 May 2021 06:30PM
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KUALA LUMPUR: Taiwanese firm Foxconn Technology Co Ltd is in talks to acquire a stake in Malaysian technology firm Dagang NeXchange Bhd (DNeX) after losing a bid for a semiconductor maker DNeX now owns, Bloomberg reported on Thursday, citing sources. ....

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iPhone Maker Foxconn Warns the Global Chip Shortage Is Here to Stay

The global semiconductor shortage is still wreaking havoc in several industries, including the automotive business, where more and more carmakers are forced to temporarily suspend their operations simply because they don’t have any chips to install on their models. ....

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Automation can build industry's immunity against Covid-19 - The Hindu BusinessLine


Manufacturing is looking for more automation
India’s manufacturing is struggling to breathe during the second wave of the Covid-19 virus. Before the pandemic, the sector was estimated to contribute 25 per cent to the country’s GDP by 2025. The Central Government’s ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives signalled to the world that becoming a global manufacturing hub was a top priority. The 2021 Union Budget’s Production Linked Incentive (PLI) Scheme to boost local manufacturing attracted three of Apple’s top manufacturers to India Foxconn, Wistron, and Pegatron.Nineteen global and 14 domestic companies have filed under the PLI scheme. The economy was picking up that is before the second wave hit. Once again, manufacturers today are facing great uncertainty. Employees continue to succumb to the virus, and states are imposing varying levels of restrictions some instituting total lockdowns. And with experts anticipating a third wave, why isn ....

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