Our dream is that every device in the world will have an Indian-made chip and 100 per cent of electronic manufacturing should happen in the country, Prime Minister Narendra Modi said on Wednesday. Inaugurating the ‘Semicon India 2024’ at the India Expo Mart in Greater Noida, PM Modi said the meaning of chips in India … Read more
With artificial intelligence (AI) fuelling global semiconductor demand, around 150 new fabrication units will be required to meet the industry’s ambitious $1 trillion target by 2030 and India will need to achieve exponential growth to maximise its share, industry leaders said on Wednesday. Speaking at the ‘Semicon India 2024’ event here inaugurated by Prime Minister … Read more
Adani Ports and Special Economic Zone Ltd (APSEZ) on Wednesday announced it will develop a multi-purpose berth at Kandla Port in Gujarat. The Berth No 13 at Deendayal Port in Kandla will handle multipurpose cargo and is expected to be commissioned in FY27, India’s largest port developer-cum-operator said in a statement. "Berth No 13 will … Read more
The production-linked incentive (PLI) Auto scheme has helped generate more than 30,000 jobs till March this year, the government has said. The PLI Auto scheme attracted Rs 74,850 crore in proposed investments, with Rs 17,896 crore already invested, according to Union Heavy Industries Minister HD Kumaraswamy. Speaking at the Society of Indian Automobile Manufacturers’ (SIAM) … Read more
The Indian equity markets closed in the red on Wednesday due to weak global sentiments. At closing, Sensex was down 398 points, or 0.49 per cent, at 81,523 and Nifty was down 122 points, or 0.49 per cent, at 24,918. Selling was led by banking stocks. Nifty Bank was down by 262 points, or 0.51 … Read more
BCPL Railway Infrastructure is locked its upper circuit limit at Rs. 99.05, up by 4.71 points or 4.99% from its previous closing of Rs. 94.34 on the BSE. The scrip opened at Rs. 93.10 and has touched a high and low of Rs. 99.05 and Rs. 92.90 respectively. So far 48821 shares were traded on … Read more
Indian importers are exploring options strategies to hedge against currency risks amid muted volatility in the rupee, moving away from outright forwards that have become expensive, traders said. Premiums, which reflect the interest rate differential between the United States and India, have surged as the Federal Reserve is expected to embark on a rate-cutting cycle, … Read more
Uttar Pradesh Chief Minister Yogi Adityanath, on Wednesday, highlighted the state's big strides in the semiconductor industry while addressing the SEMICON India 2024 event at the India Expo Mart, here. He extended a warm welcome to the attendees, which included industry leaders and captains of the semiconductor sector. "I welcome you all to this inauguration … Read more
The Maharashtra Government has appointed a Chief Secretary (CS)-led committee for the implementation of the NITI Aayog’s report on making the bursting Mumbai Metropolitan Region (MMR) a growth hub with a $300 billion economy by 2030 from the present $140 billion. The state government, in its Government Resolution (GR) released late on Tuesday night … Read more
Indian rupee strengthened against the US dollar on Wednesday tracking its Asian peers, and as the American currency and crude oil prices retreated. Meanwhile investors are awaiting for US inflation data to be released later today, which could offer cues on the magnitude of an expected rate cut from the Fed later this month. Moreover, … Read more