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Uttar Pradesh, once called a bimaru (sick) state with low industrialisation, is on its way to become a boom state. As it strives to become an electronics hub, the state will now get a semiconductor plant too. The joint venture between Taiwan’s Foxconn and IT services major HCL Group has been allotted around thirty acres of land, near the upcoming Jewar airport in Uttar Pradesh’s Noida, to set up a semiconductor outsourced assembly and testing (OSAT) unit, said Et has reported based on information from sources. Uttar Pradesh has received proposals for projects totalling around Rs 40,038 crore under its new policy to incentivise semiconductor manufacturing and attract global investments in the state, the government said in a statement in July. Among several proposals, it has so far considered Hiranandani group’s Tarq Semiconductor plant. In fact, Uttar Pradesh has emerged as the only north Indian state actively vying for high-tech industrial projects which has traditionally been the mainstay of south Indian states. Uttar Pradesh has followed states Karnataka, Tamil Nadu and Gujarat to have a dedicated semiconductor policy.

Subscribe to enjoy similar stories. When it comes to wristwatches, there are some classic styles that never go out of fashion. To a large extent these styles have much to do with the stated purpose of the watch.

extreme weather this summer. As pressure builds on policymakers to roll out more stimulus, data due Saturday will show growth in industrial production slipped in August for a fourth straight month, in what would be its longest deceleration in almost three years. A slower expansion in activity also extended to retail sales and investment, according to analysts surveyed by Bloomberg. The widespread weakness would be a signal of how little traction the $17 trillion economy has generated in recovering from its worst stretch in five quarters. Heat waves — coupled with torrential rains that snarled travel and flooded farmland and mines — have added to setbacks for Beijing and its pursuit of growth around 5%, a goal most global banks now believe might be out of reach.

Ottawa may not be done firing trade salvos at China as Finance Minister Chrystia Freeland said the federal government was considering further tariffs.

Subscribe to enjoy similar stories. “The next industrial revolution has begun." Jensen Huang, chief executive of Nvidia Corp., on the earnings call for the chipmaker’s financial second quarter ended 28 July. A glimpse of this revolution was already visible in Nvidia’s full-year earnings for 2023-24.

IT hardware manufacturers are urging the government to significantly reduce the five-to-six-month certification process for locally-made laptops and notebooks, which they say is hindering production ramp-up under the production-linked incentive (PLI) scheme for IT hardware. Industry executives have informed the Ministry of Electronics and Information Technology (MeitY) about the extended timelines for acquiring BIS (Bureau of Indian Standards) certification. This is due to the mandatory separate tests for battery packs installed on laptops, after running viability tests for making the products with local contract manufacturers. “Currently, because of the requirements of acquiring testing certificates for individual components like the battery pack as well as the laptop as a whole, the whole process takes around 5-6 months, where the products themselves have a shelf life of 8-10 months,” a senior executive at a leading IT hardware brand told ET on condition of anonymity.

A strike by the 33,000 factory workers who assemble some of Boeing’s best-selling planes would come as another blow to a company whose bottom line and reputation have taken plenty of hits this year

Department of Telecommunications (DoT) has identified and notified the products on which the revised and more stringent public procurement norms will be applied, as the government steps up its intent to push up local value addition. The DoT has identified 36 products such as routers, ethernet switches, media gateways, customer premises equipment, GPON equipment etc, where the minimum local content has to be over 50%. On certain products, the minimum local content has to be 65%. The stakeholders including telecom operators, manufacturers etc can provide their comments within 15 days on the draft notification.

A report by the American Chamber of Commerce in Shanghai has found that U.S. companies in China are seeing record-low profits, with business confidence at an all-time low amid U.S.-China tensions and a slowing Chinese economy

Association of Mutual Funds in India (AMFI). This compares with the long-term average ratio of 1.6. A ratio greater than two indicates that buying inflows are twice as high as selling outflows, reflecting strong investor momentum. Among equity funds, the sector funds have maintained a buy-to-sell ratio of over three for the fourth consecutive month and have had a ratio greater than one for 15 consecutive months. Sector/thematic NFOs reported a net inflow of Rs 33,939 crore over the past three months, accounting for 30% of the total equity fund inflow. During the period, equity funds received a total inflow of Rs 1,15,960 crore. In August, equity NFOs totalled an inflow of Rs 10,202 crore with notable offers including the Motilal Oswal Manufacturing Fund, Motilal Oswal Business Cycle Fund, SBI Innovative Opportunities Fund, and Invesco India Manufacturing Fund.

Bio-E3 policy marks a crucial step in positioning India as a global bio-economy leader and is set to spark a «bio-revolution» in India similar to the IT revolution in the Western world, Union minister Jitendra Singh said on Thursday. The BioE3 policy was formally launched last month and aims to facilitate sustainable and efficient utilisation of biological resources for innovation, scaling-up and bio-manufacturing of specialty chemicals, enzymes, bio-polymers, functional foods, smart proteins, veterinary products, precision bio-therapeutics and services. Speaking at the Global Bio-India Summit 2024, Singh, the Minister of State (Independent Charge) for Science and Technology, said the policy marks a crucial step in positioning India as a global bio-economy leader. Singh highlighted the importance of the Global Biotech platform, which brings together a diverse range of stakeholders, including start ups, SMEs, large industries, research institutes, and international bodies.

₹50-75 per tonne going ahead. The company is simplifying its corporate structure by consolidating subsidiaries. This is expected to boost cash flow and drive efficiencies in manufacturing, distribution, and logistics in the medium term.

Indian office market is experiencing a notable shift, with domestic companies projected to lease 60-65 million square feet of office space between 2024-2025, a significant departure from the historical dominance of global corporations, particularly those from the United States, mentioned CBRE. Domestic firms saw a substantial 60% increase in office space absorption in the last two years, compared to the pre-pandemic years of 2018-2019. These firms have accounted for nearly 47% of overall office leasing activity in the last decade, with Delhi-NCR leading the way, followed by Bengaluru and Mumbai. According to the report, cities like Bengaluru and Hyderabad saw increased occupancy by e-commerce and life sciences firms, respectively, reflecting their strong growth trajectories. Further, Mumbai emerged prominently with a 43% share of domestic BFSI leasing, bolstered by substantial contributions from Delhi-NCR and Chennai during 2018 – H1 2024.

Mint. “The plant is costing us ₹4,000 crore ($475 million) to set up, and this itself will take 18 to 24 months to complete fully and make it operational. Right now, we don’t have any plans to venture into a fab project, at least in the near term. We’ll start with chip manufacturing through OSATs, and then slowly see how we can scale up," he said on the inaugural day of Semicon India 2024.

₹750 crore, or 25% of Ather’s fresh issue, is earmarked for research and development (R&D), which is comparable to Hero’s FY24 R&D budget of ₹826 crore, or around 2% of its revenue. Read this | With Rizta, Ather looks to bond better with family scooter market The other objective of the issue is the capital expenditure of ₹927 crore for setting up a new plant in Maharashtra with initial capacity of 500,000 units. The existing capacity at the Tamil Nadu plant is about 400,000 units, though its capacity utilization is only around 30%.

Air conditioning company Carrier wants to repeat its China playbook in India by adopting a similar strategy, according to a top executive. “Our strategy is to be in India for the long run,” said Saif Siddiqui, president-APAC at Carrier. “We have been in India for 40 years. We have been in China for many, many decades. We have localised to a large extent in China. In fact, the playbook we are talking in India, we have lived it in China in terms of supplier ecosystem localisation and investing in both R&D and manufacturing to get ourselves the local market.” The Florida-based company plans to invest $800 million in India in the next five years, topping up a $1 billion investment made over the past decade, chief executive officer David Gitlin had told ET in October.

Anshul Saigal, Founder, Saigal Capital, says he follows Druckenmiller. One thing that Druckenmiller says is that when you are having a good year, the tendency is to book profits and hold cash or be defensive, but it is then that you should be stepping on the pedal and going for the home run. Given how this year has gone, the tendency by now is to hold cash and take some profits off the table. But a smart investor should press on the pedal because, between now and year-end, certain segments of the market may deliver outsized returns even from here. What do you make of the market setup? Everything is going our way. First it was crude price, then flows and now the recovery in rural India. Anshul Saigal: Yes, it is an interesting market. Rural economy has been weak for the better part of the last four years. Individual households have been filling their pockets, ensuring that their savings are recovered before they go out and spend and for that reason that market has been weak. But we are at a cusp, we believe at this moment, where this market is likely to turn. Initial signs have been seen over the last two quarters in company results.

Adani Group, has been arrested by Odisha’s Vigilance Directorate for allegedly attempting to bribe an Indian Administrative Officer (IAS). Rambhav Gattu, the Chief Manufacturing Officer (East) of Ambuja Cement in Chhattisgarh, was taken into custody after he attempted to offer Rs 2 lakh in cash to the collector of Bargarh district, Aditya Goyal.

share allotment of Tolin Tyres IPO is likely to be finalised today. Investors will get shares on a lottery basis and the whole process was supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE or even on the registrar's website.

Kross IPO is likely to be finalised today. Investors will get shares on a lottery basis and the whole process was supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE or even on the registrar's website.