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Electronics Industry
The government on Wednesday said it has approved 34 electronic components manufacturing proposals worth Rs 11,187 crore till March 30 this year. In a written reply to Lok Sabha, Minister of State for Electronics and IT Rajeev Chandrasekhar said the government had notified a Scheme for Promotion of Manufacturing of Electronic Components (SPECS) on April 1, 2020, and applications were received till till March 30, 2023. "As on March 30, 2023, 120 applications have been received under SPECS. The applications received under the scheme are from domestic companies. As on March 30, 2023, thirty four (34) applications with total project cost of Rs 11,187 crore have been approved under the scheme," he said. Under the scheme, the approved proposals include those from Tata Electronics, Samsung Display Noida Pvt Ltd, Salcomp Technologies, Sahasra Semiconductors, IdemiaSyscom, Deki Electronics, Molex India and Continental Device India Pvt Ltd.
Power and New & Renewable Energy minister R K Singh on Wednesday launched Voluntary Star Labelling Programme for multi-door refrigerators, table- and wall-mounted fans, pedestal fans, and induction hobs. This programme is expected to save approximately 11.2 billion units of electricity by 2030 and will enable the reduction of CO2 emission close to 9 million tonnes by 2030 and help India to transition towards low carbon sustainable growth and achieve its ambition of net zero by 2070. The minister launched the programme at a function to celebrate the 21st Foundation Day of Bureau of Energy Efficiency (BEE) in the capital. Singh urged the BEE to play greater role for shaping India's energy transition roadmap for more initiatives and said that the BEE and EESL (Energy Efficiency Services Ltd) have facilitated the country in achieving the goals it set for itself in terms of reduction of emissions. "Our per capita emissions are very low compared to the world average; we are 1/3 of the .
Smart devices and accessories maker Gizmore is planning to scale up production of smartwatches by about two and half times to 15 lakh per annum, as it looks to generate business of around Rs 200 crore in the next financial year, a top official of the company said. Gizmore CEO and Co-Founder, Sanjay Kalirona told PTI that the company at present makes around 50 thousand smartwatches per month (six lakh per annum) in India and is going to scale up the production to around 15 lakh smartwatches in the next financial year. "Smartwatches are the fastest growing segment for us. It now accounts for 60 per cent of our business. We expect to close this fiscal with around 40-50 per cent growth. In the next fiscal, we are targeting 100 per cent growth and over Rs 200 crore business to come from smartwatches alone," he said. The company expects to close the current fiscal with revenue of about Rs 75-80 crore comprising Rs 50 crore revenue from the sale of smartwatches. "We are expanding our reac
Electronic goods export is likely to grow by 36.8 per cent to cross Rs 1.6 lakh crore in the current fiscal, with mobile phone export accounting for nearly half of the total pie, industry body ICEA said on Tuesday. The electronic goods export in 2021-22 was Rs 1,16,937 crore, according to India Cellular and Electronics Association (ICEA). "In financial year (FY) 2021-22, India exported Rs 1,16,937 crore worth of electronic goods and is estimated to export more than Rs 1,60,000 crore in FY 2022-23. The mobile phone exports in FY 2021-22 were Rs 45,000 crore, and is estimated to reach more than Rs 75,000 crore in FY 2022-23," ICEA said in a note. According to the industry body, the total exports of electronic goods from India from April to December 2022 grew to Rs 1,33,313 crore against Rs 81,780 crore in 2021. The growth in electronic goods exports is primarily led by mobile phone exports, which are estimated to have increased over Rs 60,000 crore in April-December 2022 from Rs 27,2