Search Result for : Electronics Sector

The Dollar Business Bureau Salzer Electronics, a leading name in the field of electrical products manufacturing, said on Monday that it is looking at a compound annual growth rate (CAGR) of 15% and aims to become a Rs.1,000 crore firm by 2021, following technology alliances globally and augment the share of value-added products. “We expect Rs.430 crore turnover by FY 18, Rs.520 crore by FY 19 and intend to emerge as a Rs.1,000 crore company by 2021,” R Doraiswamy, Managing Director of Salzer Electronics told PTI. “We believe that revenues from our existing products are expected to grow at a 15% CAGR during this period. Going forward the company’s focus is to achieve profitable growth by adding newer products, which are customised and ...

The Dollar Business Bureau A report by Assocham-NEC today predicted that  a high demand for electronics could overtake domestic production, leading to an import of electronic items of $300 bn by 2020. The report said that the demand for electronics products in India could grow by a CAGR of 41% to reach $400 bn by 2020, while domestic production presently is growing at a CAGR of 27%. There is a gap in the demand in imports amounting to nearly $300 bn the study said. India has a burgeoning middle class population with an increasing disposable income, unsatiated appetite for electronics and consumer durable goods like televisions, mobile phones, computers- and this is likely to grow with every passing year.  The government needs to turn ...

The Dollar Business Bureau The Government of India on Wednesday announced several measures for country’s electronics sector including a ‘record allocation’ of Rs.745 crore for incentive schemes such as EDF and M-SIPS and exemption of duty on POS machines, but the measures fell short of the expectations of enthusing local manufacturers.  M-SIPS (Modified Special Incentive Package Scheme) offers subsidy on capital expenditure – 20% for investing in special economic zones (SEZs) and 25% in non-SEZs.While presenting the Budget 2017-18, Finance Minister Arun Jaitley said that a large number of world leaders and mobile makers have set up manufacturing facilities in the country. “I have therefore exponentially increased the allocation and incentives of schemes like M-SIPS and EDF (Electronic Development Fund) to Rs.745 crore in 2017-18, this is an ...

The Dollar Business Bureau  The Reserve Bank of India has allowed foreign investors to buy 100% in Crompton Greaves Consumer Electricals Ltd (CGEL). In a notification released to the press RBI said, “Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 100 per cent of the paid up capital of Crompton Greaves Consumer Electricals Limited under the Portfolio Investment Scheme (PIS).”  The company, Crompton Greaves had passed special resolutions in its Board of Directors meeting and in its shareholders’ meeting, agreeing to enhance the limit for the purchase of its equity shares and convertible debentures through FII’s and RFPI’s.  Mention needs to be made of the attempt made in May by private equity firm Advent International Corp and the famed Singapore state ...

Sharath Chowdary  Electronics retailer Pai International is planning to raise Rs.500 crore venture capital (VC) funding for its expansion in India. The company has more than 80 stores in Telangana and Karnataka. It expects to have around 100 retail outlets across the country by the end of this fiscal, Pai International Managing Director Raj Kumar Pai told The Dollar Business Bureau.  As part of the company’s expansion plans, Raj Kumar will be inaugurating six showrooms in different locations of Hyderabad on Saturday. “All the stores are company-owned and we don’t have any franchisees. Till date, we have sourced funds from a consortium of banks. But now, we are looking for VC funding, as the company has decided to open at least 10 stores a ...

The Dollar Business Bureau S K Marwaha, Director, Department of Electronics and Information Technology, said India is expecting $56 billion worth of investments in the electronics sector by 2020, to meet its rising demand. The government has permitted 100 percent FDI (Foreign Direct Investment) in the electronics sector with a subsidy of 25 percent, Marwaha said on Wednesday, while speaking at 'India Connect' business forum held at CommunicAsia2016 Exhibition in Singapore. He pointed out that there is a need to enhance the electronics sector production by around $300 billion in the next four years, given the high demand for hi-tech products, which will also come from the development and restructuring of 98 Smart Cities (under India’s Smart Cities Mission) across India. ...

Sai Nikesh | The Dollar Business In view of the growing domestic demand and to curb imports in future, the Government of India announced plans to provide proper infrastructure support to the electronic manufacturing sector in the country. In this regard, the government will be investing $10 billion in chip manufacturing facilities coming up in Gujarat and Uttar Pradesh, where a consortium of manufacturing firms have come up to set up the production bases. This was informed by RS Sharma, Secretary, Department of Electronics and Information Technology (DeitY), Government of India, in New Delhi on Thursday. Addressing the first Indian Electronics Expo organised by Electronics and Computer Software Export Promotion Council (ESC), the official also informed India’s move to invest ...

Sai Nikesh D | The Dollar Business India’s electronic imports are expected to surpass crude oil imports by 2020   Catherine Novelli, the United States Under Secretary, has said this week that several companies in USA are keen to join India in promoting electronic manufacturing in the country. However, she felt that the constraints of global supply chain must be considered while implementing the “Make in India” programme. Responding to Novelli’s statement, Ravi Shankar Prasad, India’s Minister of Information Technology, promised US companies of unbiased treatment with Indian companies and assured that US companies manufacturing in India can also avail export incentives offered by the Indian government to domestic companies. Manufacturing in the electronics sector in India is a priority for ...