[🇮🇳] Indian Economy watch- All new developments.

[Krishna with Flute]

Madrasa students and student revolutionaries all around Bangladesh were guarding Hindu temples from Awami goondas vandalizing them, its all in the news.

Madrasa students were guarding temples from Whom? You didn't specify who wanted to demolish it which needed guarding?

Foxconn canceled all India operations and left. They saw the face of these "Red Tape Baboos" and threw in the towel before leaving.

Which operations were cancelled by Foxconn when it has no plant in India?

 

[Jiangnan]

Tim Cook is only reassuring Indians until China Tariffs go away. And go away they WILL. Just a bullying tactic by current US administration. Tim is simply keeping his options open.

India has no capability/expertise to make any Apple subcomponent except screw Chinese subcomponents together, which is even worse situation than Bangladesh. At least we make our own cellphone motherboards in the country for our own designed/branded cellphones.

What important investment has Apple made (or its Taiwanese suppliers made) in India in backward integration (making cellphone subcomponents)? Zero, Zilch, Nada.

Foxconn canceled all India operations and left. They saw the face of these "Red Tape Baboos" and threw in the towel before leaving.

India is the graveyard for Foreign FDI and all investors know it too well by now. @Jiangnan, your thoughts brother...

THE INDIAN GOVERNMENT ROBBED XIAOMI AND VIVO. And when it tried to rob BYD, BYD decisively withdrew.

The advice of the Chinese company is: Don't try to invest in India.

 

[Krishna with Flute]

THE INDIAN GOVERNMENT ROBBED XIAOMI AND VIVO. And when it tried to rob BYD, BYD decisively withdrew.

The advice of the Chinese company is: Don't try to invest in India.

It seems that Chinese companies do not listen to your advice. BYD is coming to India in a big way in partnership with Indian company.

 

[Jiangnan]

It seems that Chinese companies do not listen to your advice. BYD is coming to India in a big way in partnership with Indian company.

Please do not represent BYD. thank you. BYD exports products to India but does not invest.

 

[Krishna with Flute]

It seems that Chinese companies do not listen to your advice. BYD is coming to India in a big way in partnership with Indian company.

Is this news Banned by Xi in China?

Chinese Electric Car Company BYD to Spend $10 Billion in India: Exclusive News from The Philox

Investing $10 billion in India, Chinese electric vehicle behemoth BYD is building a massive production base close to Hyderabad, Telangana. Reported ahead of a March 23, 2025, summit in New Delhi, the project will house a 20 GWh battery plant and generate 600,000 EVs yearly by 2032. This growth...

thephilox.com

 

[Krishna with Flute]

Tata Electronics looks to double Apple iPhones enclosures production in India to one lakh​

Story by TOI Business Desk
• 21h•
2 min read

In this article

AAPLRising fast

2317Rising fast
3231Earnings miss

Tata Electronics is substantially increasing its iPhone enclosure manufacturing capacity at their Hosur facility, according to sources familiar with the matter. The production expansion initiative by Tata Electronics aligns with recent declarations from Apple CEO Tim Cook regarding India's future role as the primary manufacturing destination for US-bound iPhones.



"For the June quarter, we do expect the majority of iPhones sold in the US will have India as their country of origin," Cook said during Apple's Q1 earnings call on May 1.

"Tata Electronics is looking to double its existing capacity of around 50,000 enclosures," one person told ET. "The ramp-up will likely take place ahead of the product launches that Apple does around September every year. This is Phase II of the build-out at the Hosur facility."

The source indicated that before the September last year fire incident at the unit, Tata Electronics had reached a production capacity of approximately 50,000 enclosures. The fire incident necessitated a temporary halt to their swift expansion plans.


Tata Electronics looks to double Apple iPhones enclosures production in India to one lakh
"It took some time for them to get back on track post the fire," another person said. "But the capacity is at pre-fire levels now."

Vietnam will be the primary source for nearly all iPad, Mac, Apple Watch and AirPods products destined for the US market.

The announcement regarding India by Cook signified a crucial change in the production approach of the Cupertino-based organisation, confirming its intention to diversify manufacturing operations beyond China.



Apple's India-based suppliers are actively pursuing this manufacturing opportunity.

Also Read | Turnaround from importer to exporter! India now shipping Apple product components to China & Vietnam

Tata Electronics acquired a majority 60% ownership in Pegatron Technology India (PTI) earlier this year. This followed their previous acquisition of Wistron's India operations (situated in Narsapura, Karnataka) in March 2024. These moves indicated the company's efforts to enhance its position in Apple's global value chain (GVC).

Additionally, the financial daily reported last week that Jabil, another Apple supplier, planned to increase its AirPods casings production in India.

These developments indicate Apple's broader strategy to expand its supplier network beyond China, considering global tariff uncertainties and the ongoing trade tensions between Washington and Beijing.



Foxconn's Indian operations have significantly benefited from this shift. The Taiwanese contract manufacturer has substantially increased its mobile assembly investments in India, with further growth anticipated.

The organisation is establishing a substantial factory in Bengaluru and has launched a new facility in Hyderabad focused on AirPods production, demonstrating its expansion into diverse manufacturing sectors in India.

Also Read | Dealing with Trump’s tariffs: Apple exports 97.6% of iPhones to US from India to preempt higher tariffs on imports from China

MSN

 

[Krishna with Flute]

​

Here we analyze why Foxconn left it's India chip making project​

------------------------------------------------------------------------------

Foxconn: Apple supplier drops out of $20bn India factory plan​

Share
Annabelle Liang
Business reporter

Reuters
Apple supplier Foxconn has pulled out of a $19.5bn (£15.2bn) deal with Indian mining giant Vedanta to build a chip making plant in the country.

The move comes less than a year after the companies announced plans to set up the facility in Prime Minister Narendra Modi's home state of Gujarat.

Some analysts say it marks a setback to the nation's technology industry goals.

However, a government minister says it will have no impact on the country's chip making ambitions.
"There was recognition from both sides that the project was not moving fast enough," Taiwan-headquartered Foxconn said in a statement.

"There were challenging gaps we were not able to smoothly overcome, as well as external issues unrelated to the project," the firm added.

Earlier on Tuesday, Foxconn told the BBC that the decision was made in "mutual agreement" with Vedanta, which has assumed full ownership of the venture.

It added that it would "continue to strongly support the government's 'Make in India' ambitions".

New Delhi-based Vedanta said it had "lined up other partners to set up India's first [chip] foundry".

• iPhone maker to shift to cars as US-China ties sour
• India targets China's dominance in mobile phones

"The surprise pull-out of Foxconn is a considerable blow to India's semiconductor ambitions," Paul Triolo from global advisory firm Albright Stonebridge Group told the BBC.

"The apparent cause of the pull-out is the lack of a clear technology partner and path for the joint venture," he added. "Neither party had significant experience with developing and managing a large-scale semiconductor manufacturing operation."

However, Rajeev Chandrasekhar, India's Minister of State for Electronics and Information Technology, said on Twitter that Foxconn's decision had "no impact on India's semiconductor fab[rication] goals. None."

Mr Chandrasekhar added that Foxconn and Vedanta were "valued investors" in the country and "will now pursue their strategies in India independently".

Modi Govt clears ₹1.25 Lakh Cr Tech Push; 6th semiconductor unit in Jewar gets Cabinet nod​

New Delhi, May 14 2025 (ANI): Union Minister Ashwini Vaishnaw said, "Union Cabinet has approved India's 6th semiconductor unit in Jewar, Uttar Pradesh. Under India Semiconductor Mission, 5 semiconductor units have been approved so far and rapid construction is going on there. Production at one unit will begin this year. In this connection, there is one more super-advanced unit. This is a joint venture of HCL and Foxconn..." See less

 

[Bilal9]

Tata Electronics looks to double Apple iPhones enclosures production in India to one lakh​

Story by TOI Business Desk
• 21h•
2 min read

In this article

AAPLRising fast

2317Rising fast
3231Earnings miss
View attachment 17334
Tata Electronics is substantially increasing its iPhone enclosure manufacturing capacity at their Hosur facility, according to sources familiar with the matter. The production expansion initiative by Tata Electronics aligns with recent declarations from Apple CEO Tim Cook regarding India's future role as the primary manufacturing destination for US-bound iPhones.



"For the June quarter, we do expect the majority of iPhones sold in the US will have India as their country of origin," Cook said during Apple's Q1 earnings call on May 1.

"Tata Electronics is looking to double its existing capacity of around 50,000 enclosures," one person told ET. "The ramp-up will likely take place ahead of the product launches that Apple does around September every year. This is Phase II of the build-out at the Hosur facility."

The source indicated that before the September last year fire incident at the unit, Tata Electronics had reached a production capacity of approximately 50,000 enclosures. The fire incident necessitated a temporary halt to their swift expansion plans.


Tata Electronics looks to double Apple iPhones enclosures production in India to one lakh
"It took some time for them to get back on track post the fire," another person said. "But the capacity is at pre-fire levels now."

Vietnam will be the primary source for nearly all iPad, Mac, Apple Watch and AirPods products destined for the US market.

The announcement regarding India by Cook signified a crucial change in the production approach of the Cupertino-based organisation, confirming its intention to diversify manufacturing operations beyond China.



Apple's India-based suppliers are actively pursuing this manufacturing opportunity.

Also Read | Turnaround from importer to exporter! India now shipping Apple product components to China & Vietnam

Tata Electronics acquired a majority 60% ownership in Pegatron Technology India (PTI) earlier this year. This followed their previous acquisition of Wistron's India operations (situated in Narsapura, Karnataka) in March 2024. These moves indicated the company's efforts to enhance its position in Apple's global value chain (GVC).

Additionally, the financial daily reported last week that Jabil, another Apple supplier, planned to increase its AirPods casings production in India.

These developments indicate Apple's broader strategy to expand its supplier network beyond China, considering global tariff uncertainties and the ongoing trade tensions between Washington and Beijing.



Foxconn's Indian operations have significantly benefited from this shift. The Taiwanese contract manufacturer has substantially increased its mobile assembly investments in India, with further growth anticipated.

The organisation is establishing a substantial factory in Bengaluru and has launched a new facility in Hyderabad focused on AirPods production, demonstrating its expansion into diverse manufacturing sectors in India.

Also Read | Dealing with Trump’s tariffs: Apple exports 97.6% of iPhones to US from India to preempt higher tariffs on imports from China

MSN

iPhone enclosures? Meaning the cases for the phones? This is an injection molded plastic item, or sometimes made with aluminum. Tata Hosur plant used to make watches, they can make these.

But what specifically about plastic cases makes India the hotbed for iPhone mfg.?

• This will last only the tariff war lasts between China and US- which is a big bluff by the incumbent US administration. Once import tariffs for Chinese items are lowered in US, this advantage is gone for India.
• It costs 5-8% more to manufacture iPhones in India compared to China - long term manufacturing prospects are zero.
• The Chinese are reported to be blocking export of Chinese made advanced iPhone parts from China to India, they CAN do that.
• The challenges of setting up the advanced technological base to manufacture iPhones in India are way too large compared to China.

So - despite Indian propaganda and feel good back-slapping in India, ain't happenin'.

Look at facts....

 

[Krishna with Flute]

iPhone enclosures? Meaning the cases for the phones? This is an injection molded plastic item, or sometimes made with aluminum. Tata Hosur plant used to make watches, they can make these.

But what specifically about plastic cases makes India the hotbed for iPhone mfg.?

• This will last only the tariff war lasts between China and US- which is a big bluff by the incumbent US administration. Once import tariffs for Chinese items are lowered in US, this advantage is gone for India.
• It costs 5-8% more to manufacture iPhones in India compared to China - long term manufacturing prospects are zero.
• The Chinese are reported to be blocking export of Chinese made advanced iPhone parts from China to India, they CAN do that.
• The challenges of setting up the advanced technological base to manufacture iPhones in India are way too large compared to China.

So - despite Indian propaganda and feel good back-slapping in India, ain't happenin'.

Look at facts....

Try your best. The fact of the matter is that our Mobile phone export is as much as half of BD's total export. 75% of that is I phone. Your wishful thinking of India's export will down once tariff issue is resolved has no base as Apple is investing Rs. 15000 crore in India for capacity expansion. India is going to the international hub of Apple production of Apple. In some time, I phone export from India will cross total export of BD.

 

[Krishna with Flute]

Indian Railways' first 9,000 HP electric locomotive engine inaugurated by PM Modi; unveils Dahod's loco workshop - Top facts​

Story by TOI Business Desk
• 3h•
2 min read

Indian Railways’ first 9,000 HP electric locomotive engine was unveiled by PM Narendra Modi in Dahod on Monday. PM Modi inaugurated the locomotive manufacturing shop at Dahod's rolling stock workshop. PM Modi was accompanied by Union Railway Minister Ashwini Vaishnaw and Gujarat CM Bhupendra Patel.

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PM Modi is on a two-day tour of Gujarat on May 26 and 27, during which he will inaugurate multiple development initiatives in Dahod, Bhuj, and Gandhinagar. These projects, including significant Indian Railway undertakings and state government schemes, are collectively worth more than Rs 24,000 crore.

India’s first 9,000 HP locomotive & Dahod locomotive workshop: Top Things to Know​

• The Dahod locomotive manufacturing workshop's foundation stone was laid in 2022 and within a span of 3 years, this production facility stands completed.
• The Railway Ministry project has been built with an investment of Rs 21,405 crore.
• The 9,000 HP locomotive engine has been manufactured as part of the 'Make in India' programme, according to an official statement.

Indian Railways' first 9,000 HP electric locomotive engine inaugurated by PM Modi; unveils Dahod's loco workshop - Top facts

• The locomotive engines produced at this facility will be capable of transporting 4,600 tonnes of freight, with plans to manufacture roughly 1,200 engines within the next decade.
• The facility's manufacturing setup can produce 120 locomotives yearly, with the capability to increase output to 150 units per annum based on market requirements
• The facility is dedicated to manufacturing 9000 HP electric locomotives, serving both domestic requirements and export purpose
• These powerful engines will enhance the cargo-carrying capabilities of Indian Railways' network.

Indian Railways' first 9,000 HP electric locomotive engine inaugurated by PM Modi; unveils Dahod's loco workshop - Top facts

• The locomotives incorporate regenerative braking technology and feature energy-efficient designs, supporting eco-friendly railway operations.
• The Dahod railway production facility will generate employment for 10,000 individuals and stimulate the regional economy.

MSN

 

[Krishna with Flute]

Japan enters top five export markets for India-made cars​

Story by TOI Business Desk
• 3h•
2 min read

Japan enters top five export markets for India-made cars
NEW DELHI: Japan has become one of the top five destinations for Indian car exports for the first time in FY25, signaling growing global demand for vehicles manufactured in India, even from advanced markets.

Major Indian exporters like Suzuki Motor Corp and Honda Motor Co's local units are increasingly using India as a global production base.

According to commerce ministry data compiled by SIAM, car exports to Japan jumped to $616.45 million in the first nine months of FY25, up from $220.62 million in all of FY24.

Although official data for the March quarter is still awaited, industry sources expect exports to Japan to grow further, especially after Maruti Suzuki began shipping its Jimny SUV to the country in January.

"Over decades, we have built a base in quality, cost, efficiency and technology in car manufacturing. This has given us volumes and economies of scale," senior executive officer at Maruti Suzuki India, Rahul Bharti told the Economic Times.

He further noted that the company plans to export large number of e Vitara electric SUVs, produced in India, to European markets and Japan.

Japan, a significant automobile manufacturer and exporter, shipped 5.12 million vehicles in 2024.


Related video: India has become the world's 4th largest economy, surpassing Japan (Live Mint)

India has become the world's 4th largest economy, surpassing Japan


Honda Cars India exported 45,167 units of SUV Elevate, predominantly to Japan, surpassing its domestic sales of 22,321 units. Maruti Suzuki offers SUVs Fronx and Jimny in Japan.

Significantly, Suzuki temporarily suspended new Jimny five-door bookings due to overwhelming post-launch demand, receiving approximately 50,000 orders within four days in Japan.

"Indian OEMs have been not only expanding into key markets such as Africa and Latin America but are also beginning to enter developed markets (like Japan) with globally competitive models," Shailesh Chandra, president, Society of Indian Automobile Manufacturers said.

In the two-wheeler sector, Yamaha intends to begin exporting premium motorcycles to Japan soon. Itaru Otani, chairman, Yamaha Motor India Group, stated, "The sourcing cost, the labour cost, is quite low in India compared to other countries."

"We are exporting nearly a third of our output to 58 countries already. We started exports to Europe from India at the end of last year. The next step is to ship to other advanced markets like Japan and the US," Otani added.

India's automobile exports increased by 15% to 770,364 vehicles last fiscal year, significantly outperforming domestic sales growth of 2% at 4.3 million vehicles.

While compact passenger vehicles constitute over 27% of exports, measuring up to 4 metres in length and up to 1.4-litres, compact SUVs of similar dimensions are gaining prominence.

 

[Krishna with Flute]

‘Beginning of a transformative journey’: PM Narendra Modi says Indian airlines have placed orders for 2,000 aircraft​

16h•
2 min read

Prime Minister Narendra Modi addresses the 81st IATA Annual General Meeting
Prime Minister Narendra Modi on Monday said that Indian carriers have placed orders for over 2,000 new aircraft, hailing the rapid growth that the Indian aviation sector witnessed over the past decade.

Addressing the International Air Transport Association's (IATA) 81st Annual General Meeting (AGM) and the plenary session of the World Air Transport Summit (WATS), the Prime Minister said that the aviation sector in India is at an inflection point.



“Indian airlines have also placed orders for over 2,000 aircraft, marking just the beginning of a transformative journey. India's aviation sector is now at an inflection point, ready to soar to new heights,” he said.

“This journey will not only transcend geographical boundaries but also drive progress towards sustainability, promote green mobility, and ensure equitable access for all,” he added.

Unprecedented change​

PM Modi further pointed out the success of the Indian aviation sector, which has undergone an unprecedented change.

The last IATA AGM in India was held 42 years ago in 1983. The PM remarked that a lot has changed over these past four decades.

“In the last few years, India has witnessed an unprecedented transformation in the field of civil aviation. Today, India is the world's third-largest domestic aviation market,” he said.


Related video: Air India CEO Campbell Wilson On Airline's Grand Overhaul (Business Today)

“A lot has changed in India in these four decades. Today's India is more confident than ever before. In the global aviation ecosystem, we are not just a huge market but also a symbol of policy leadership, innovation and inclusive development,” Modi added.

UDAN success​

Prime Minister Narendra Modi also highlighted the success of the UDAN (Ude Desh ka Aam Naagrik) scheme launched by his government in 2016 in order to make the aviation industry more accessible to the public.

“The success of the UDAN scheme is a golden chapter in Indian civil aviation. Under this scheme, more than 15 million travellers have availed affordable air travel,” he said.

India’s airlines continue to achieve double-digit growth, with 240 million passengers flying annually, surpassing the total population of most countries worldwide, he noted.

Modi said the projection is that by 2030, this number is expected to reach 500 million passengers.


Modi noted that India had only 74 operational airports in 2014, which has more than doubled to 162.

He invited global companies to invest in the country's fast-growing aviation sector, citing a streamlined regulatory framework, ease of compliance, and a simplified tax structure.

“India has become the third-largest domestic aviation market in the world,” he said.

MSN

 

[Saif]

India bets on growth with steepest rate cut in five years

The Reserve Bank of India (RBI) cut its key repo rate by a larger-than-expected 50 basis points on Friday and slashed the reserve ratio for banks as low inflation gave policymakers room to focus on supporting growth amid a volatile global economy. The central bank, however, changed its monetary po

thefinancialexpress.com.bd

India bets on growth with steepest rate cut in five years

REUTERS
Published :
Jun 06, 2025 17:02
Updated :
Jun 06, 2025 17:02

A man walks past the Reserve Bank of India (RBI) logo outside its headquarters in Mumbai, India on June 6, 2025 — Reuters photo

The Reserve Bank of India (RBI) cut its key repo rate by a larger-than-expected 50 basis points on Friday and slashed the reserve ratio for banks as low inflation gave policymakers room to focus on supporting growth amid a volatile global economy.

The central bank, however, changed its monetary policy stance from 'accommodative' to 'neutral', stating that it may have limited space for further easing.

Tensions fuelled by US President Donald Trump's trade tariffs and the prospect of an economic slowdown in the United States and elsewhere have fuelled global uncertainty and prompted central banks to act.

China, South Korea and Indonesia have also cut rates to support their economies, although not to the extent of the RBI's 100 basis point reduction in less than six months.

"Certainty in the uncertain environment was necessary; hence the front-loading of rate cuts," RBI governor Sanjay Malhotra said at a press conference following Friday's decision.

The Monetary Policy Committee (MPC), which consists of three RBI officials and three external members, cut the repo rate to 5.50 per cent. It has now cut rates across three consecutive meetings in 2025, starting with a quarter-point reduction in February, its first cut since May 2020. It made a similar-sized cut in April.

Five of the six committee members voted in favour of the decision.

The RBI also cut the cash reserve ratio by 100 basis points to 3 per cent, adding to already surplus liquidity. The cut will take effect in four stages between September and December.

"The change in the growth-inflation dynamics calls for not only continuing with policy easing but also the MPC felt front-loading the rate cuts to support growth," Malhotra said.

"After having cut the policy rate by 100 basis points in quick succession since February 2025, the monetary policy committee also felt that under the present circumstances, monetary policy is now left with very limited space to support growth," he said.

India's GDP growth surged to 7.4 per cent in the January-March quarter and the central bank projects the economy will expand at 6.5 per cent this financial year.

"Today’s monetary policy actions should be seen as a step towards propelling growth to a higher aspirational trajectory," Malhotra said, adding the aspiration is for growth of between 7 per cent and per cent.

Markets swung sharply on the unexpectedly large cut in rates and the signal that the monetary easing cycle may be over.

India's benchmark 10-year bond yield was little changed at 6.19 per cent, after dropping 10 basis points earlier, while the rupee was little changed at 85.85, after dropping as much as 0.2 per cent. The benchmark equity indexes were up around 0.7 per cent each in a volatile trading session, and bank stocks surged.

"The central bank has chosen to front-load the growth adrenaline," said Shubhada Rao, head of Mumbai-based economics advisory firm QuantEco Research. "Going forward we do not expect rate cuts over the next two policy reviews in August and October."

BENIGN INFLATION

The central bank cut its inflation projection for the current financial year and now expects it to average 3.7 per cent compared to 4 per cent previously.

Retail inflation has slowed more quickly than expected in recent months and dropped to a near 6-year low of 3.16 per cent in April, sharply below the RBI's medium-term target of 4 per cent.

The outlook for inflation points towards benign prices across major constituents, the MPC said in its statement.

Inflation is expected to align with the central bank's target and is also "likely to undershoot the target at the margin", the statement said.

Sridhar Sivaram, investment director at portfolio management firm Enam Holdings who had expected a 50 bps cut, says inflation may fall as low as 3 per cent, leaving space for another 25-50 basis points in rate cuts in this cycle.

BOOSTING LENDING

With a steeper than expected cut in policy rates and ample liquidity, the central bank is prodding banks to lend more and at lower rates.

"The ball is in the banks’ court to transmit easier financial conditions faster," said Madhavi Arora, chief economist at Emkay Financial Services.

Bank loan growth dipped to 9.8 per cent in May 2025, reflecting a broad-based decline in lending in the economy, a report from the economic research division of State Bank of India said ahead of the policy review, calling for a 50 bps rate cut.

"Monetary policy is not a sufficient condition but it is necessary condition," Malhotra said, adding the central bank was confident its announcements would help boost lending.​

 

[Krishna with Flute]