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India's electronic production has more than doubled in the last six years to $115 billion in 2024, led by growth in mobile manufacturing by global firms such as Apple and Samsung. It is now the world's fourth-largest smart phone supplier. But the sector faces criticism for its heavy reliance on imported components from countries such as China.

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Adani Group, helmed by billionaire Gautam Adani, bounced back from the attack by American short-seller Hindenburg Research, which had accused it of stock manipulation and fraud, the conglomerate has suffered a massive hit as prosecutors in the United States charged Gautam Adani with helping drive a $250 million bribery scheme. Stocks of Adani Group companies fell up to 20% on Thursday after Adani and seven others faced charges in the US. Prosecutors have alleged that the group bribed Indian officials to secure solar energy contracts. The US prosecutors have charged Adani and others because they allege the defendants concealed the plan to pay more than $250 million in bribes to Indian government officials to win solar energy contracts as they sought to raise money from US investors. The mega Adani deal that has landed in controversy

distribution and supply chain company Moksha Group has acquired business-to-business consumer electronics startup Arzooo's assets, the companies said in a joint statement on Wednesday without disclosing the size of the deal. The distress deal comes months after Arzooo's unsuccessful attempts to raise new capital or merge with bigger rivals. The Bengaluru-based startup, founded by former Flipkart executives Khushnud Khan and Rishi Raj Rathore in 2016, had raised $80-90 million and was backed by likes of Celesta Capital, Japan's SBI Holdings and Doordash founder Tony Xu.

LG Electronics and its parts suppliers plan to invest a total of Rs 7,000 crore to build the company's third factory and create a vendor base in Sri City, Andhra Pradesh, said two industry executives aware of the development. LG Electronics will invest Rs 5,000 crore, and its Korean and Chinese parts suppliers the remainder, the executives said. LG, India's largest home appliances maker by sales, has sought 300 acres from the Andhra Pradesh government for the project which will generate over 1,500 direct jobs, the executives said asking not to be named. LG plans to produce air-conditioners, refrigerators, washing machines and televisions in the new facility for the Indian market and exports, the executives said.

Karnataka government on Wednesday signed a memorandum of understanding (MoU) with the Defence Research and Development Organisation (DRDO) to support defence startups. The partnership will promote cooperation with defence startups and grant them access to DRDO’s testing facilities. Director General for Electronics & Communication System at DRDO, BK Das on the sidelines of signing the MoU, said the organisation will offer all its testing facilities to startups, MSMEs and industries. «The other thing we will do is handhold the startups and act as mentors in terms of growing this business. We will also organise a visit to DRDO facilities for the startups,» he said. During his session, Das said India is transforming into a global superpower in defence technologies which will be a $138 billion opportunity in the next years.

Subscribe to enjoy similar stories. ROUYN-NORANDA, Quebec—One of the world’s largest miners is digging into America’s junk drawers, old phones and landfills. The quarry: bits of copper to meet the needs of the energy transition and data boom.

Public Distribution System (PDS), setting new benchmarks for food security programs globally, the Union Food Ministry said on Wednesday. The overhaul of the system, which serves 80.6 crore beneficiaries, has led to the removal of 5.8 crore fake ration cards through Aadhaar-based authentication and electronic Know Your Customer (eKYC) verification, it said in a statement. «These efforts have resulted in substantial reductions in leakages and enhanced targeting,» the ministry added.

The company will also be opening a second such flagship store in Bengaluru later this week, with plans to open 25 more such stores across the country by next year, chief business officer Sudhir Goel told ET. Goel said Acer is the first IT hardware company to open a store encompassing products across both IT and non-IT categories. “Let’s say when a family walks into the store for an experience of IT products, they can also see the variety of consumer electronics which are in high demand. That’s the concept behind the store in Ahmedabad. We will be opening a second one in Bengaluru on Friday,” Goel said.

The Bureau of Indian Standards (BIS) certification of factories of manufacturers, including component makers, is compulsory under government rules. The appliance makers termed the decision “unexpected” and said it needed calibration for such import substitution, even as a BIS official said the move was aimed at promoting local manufacturing.

Bengaluru’s reputation as a global technology hub, while speaking at the tech summit inaugural. Siddaramaiah recalled it was under the visionary leadership of SM Krishna in the early 2000s, that Bengaluru transformed with initiatives like Electronic City and IT parks, with the government laying the groundwork for the city's global tech reputation. “Today, Bengaluru is internationally recognized for its influence in software, biotechnology, aerospace, and advanced manufacturing, establishing itself as one of the fastest-growing cities worldwide,” the CM said.

PG Electroplast today rallied 15% to their new 52-week high of Rs 718.35 on the BSE after the company’s wholly-owned subsidiary PG Technoplast has signed an agreement with Spiro Mobility for an exclusive partnership for manufacturing Spiro’s EV in India. “PG Electroplast Ltd. (PGEL), one of the pioneers and leaders in Electronic Manufacturing Services and Plastic Molding, through its wholly owned subsidiary, PG Technoplast Pvt. Ltd., has signed a Definitive Agreement with Spiro Mobility to become an Exclusive Manufacturing partner for manufacturing of the EVs of Spiro Mobility (Spiro) in India,” said the company in a filing to the exchanges.

TeamLease Services on Monday. The industry has identified a critical talent gap in specialised fields such as communication and broadcast electronics, consumer electronics, industrial electronics, and aerospace and defence electronics, said the recruitment and human resources services company. «The industry faces a dual challenge: a shortage of skilled workers and a lack of specialised technical expertise essential for advanced roles. Key areas like manufacturing, electronics design, and technical troubleshooting are particularly affected, where expertise is vital for innovation and operational efficiency,» the report said. «Without targeted training and upskilling initiatives, companies struggle to fill crucial roles, despite the rise in job opportunities, highlighting the urgent need to bridge this gap through focused efforts.»

Subscribe to enjoy similar stories. British retailer Marks & Spencer is scaling back its home decor business in India, removing home linen, home decor, and dinnerware from store shelves. The retailer is prioritizing core categories like apparel.

Make in India and production linked incentive schemes for different sectors are helping attract foreign investors to set up bases in India, according to industry chamber CII. In a letter to Commerce and Industry Minister Piyush Goyal, CII Director General Chandrajit Banerjee said that the government's increased investments in infrastructure such as roads, railways and ports are making the domestic industry more competitive. The policy shift within India has also occurred at the same time as geopolitical conditions have become favourable for India, with many global companies looking to diversify their geographical base, the letter, dated November 5, said. "FDI inflows have increased from USD 45.14 billion in 2014-15 to USD 70.95 billion in 2023-24, indicating the growing interest of foreign investors for setting up base in India," it said, adding that the PLI schemes have attracted huge investments.

Subscribe to enjoy similar stories. Semiconductor chip manufacturer Polymatech Electronics will spend close to $300 million in closing two acquisitions within the next few months in the US and France as it expands its presence globally. Polymatech Electronics founder Eswara Rao Nandam told Mint that the acquisitions will be funded through a mix of internal accruals and external investments from potential equity investors.

Subscribe to enjoy similar stories. India’s GDP growth of 8.2% in 2023-24, amid global headwinds and market volatility, is more than just an economic indicator. It represents our nation’s resilience and readiness for transformation.

Shares are mixed in Asia after U.S. stocks fell to their worst loss since Election Day

Asian stocks dipped early Monday as traders reined in expectations of Federal Reserve interest rate cuts following fresh signs of US economic resilience. Japanese and Australian shares fell. South Korea’s benchmark bucked the trend, led by Samsung Electronics Co.’s rally after it announced a stock buyback plan. US futures gained, after the S&P 500 slid 1.3% on Friday to erase more than half of its gains following the US election.

The conduct and ethics developed by the Ministry of Electronics and Information Technology will be akin to “informal directive principles” for companies, especially those working to build their large language models (LLMs) or using data to train AI and machine learning models, an official said. “A law on AI is still some time away. We are talking to all stakeholders right now to see what can be included and trying to get the industry onboard on a common set of principles and guidelines,” the official said.

Tata Electronics is signing a deal to own a majority stake in Taiwanese contract manufacturer Pegatron's plant in Tamil Nadu, people familiar with the development said, underlining its move to increase its capacity of assembling iPhones. The deal is likely to lead Tata Electronics having a 60% stake with Pegatron holding the balance in the JV to run the iPhone production facility. Industry executives said the Tata Group company could pay $150-200 million for the stake. The people said, with the joint capacities of both the Wistron and the Pegatron facilities, along with the expansion Tata is undertaking at its Hosur facility, the company's capacity may increase to be at par or almost at par with that of Taiwan's Foxconn, which currently makes the most number of iPhones in India.