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Datanomics: Indian students' dreams of studying abroad still in limbo
study abroad.
Blurring American dream
Indians' share in the total F1 (student) visas issued by the US has nearly halved from 29.35 per cent in 2022-23 (FY23) to 15.65 per cent in the first eight months of FY25, marking a near 38 per cent year-on-year decline.
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The Hindu
13 minutes ago
- The Hindu
Phone assembly domestic value addition is 23%, new report claims
A new study by the Thiruvananthapuram-based Centre for Development Studies (CDS) asserts that the gains from India's mobile phone manufacturing are greater than skeptical analyses have previously assessed. Domestic value addition has already reached 23%, the report claims, compared to single digit estimates elsewhere. Specifically, the report does not agree with the notion that phone assembly is an area of 'trade surplus,' a point contended notably by RBI governor Raghuram Rajan, who said in a brief paper with a colleague, Rohit Lamba, that since India was still importing nearly all components that were being assembled in mobile phone manufacturing, the result was India remaining a net importer in effect. Mobile phone manufacturing — encouraged through Union government schemes like the Production Linked Incentive scheme — has been a much touted success story for Indian domestic electronics manufacturing, fueling hopes of similarly promising results elsewhere. ₹4.1 lakh crore of finished mobile phones were manufactured in India in 2024 according to an industry estimate. The number isn't necessarily indicative of phone assembly as a part of the economy as assembly is usually estimated to only account for 4% of a phone's selling price. The case against India running a phone trade surplus rests on a 'misleading assumption' that imports of the components that go into such assemblies are exclusively going into phones, and then getting shipped back out of the country, C. Veeramani, CDS's director said. 'We used data from the Annual Survey of Industries, and that shows that the actual use of imported components in the mobile phone sector is less than 25%.' Dr. Veeramani reported his findings to the press at an event by the India Cellular and Electronics Association (ICEA), a trade body representing electronics manufacturers; the CDS director's estimates of domestic value addition were even higher, he said, than the ICEA's: 'The Total DVA (direct + indirect) increased to 23%, amounting to more than $10 billion in 2022-23,' the report says. China factor A key recommendation in the report is to focus on scaling assembly operations in the medium term, rather than pressing firms immediately to procure components from local sources. 'We cannot have a robust [electronics manufacturing] strategy keeping China out, that will not work,' Dr. Veeramani said. 'China has to be part of the game and a mindset change is needed there.' If Chinese firms were invested in India, Dr. Veeramani said, they would have no incentive to block movement of capital goods and Chinese nationals to India, something that some phone and semiconductor makers are facing in recent months.
Mint
13 minutes ago
- Mint
Best stock recommendations today: MarketSmith India's top picks for 24 July
Indian equity benchmarks closed on a strong note on 23 July, with the Nifty gaining 159 points or 0.63% to settle at 25,219.90. The recovery was largely supported by strength in major banking stocks, while heavyweight stocks across other key sectors showed signs of stabilising. However, the IT sector remained under pressure, continuing its gradual decline. Two stock recommendations for today by MarketSmith India Manorama Industries Ltd.(current price: ₹1,585) K.P.R. Mill Limited (current price: ₹1,230) How the market performed on 23 July Nifty traded with a positive bias, gaining over half a percent and providing some respite after recent losses. After a modest start, the index remained range-bound in the first half of the session. However, buying in select heavyweight stocks, particularly in the banking and financial sectors, lifted the index higher. It moved closer to the previous swing high near 25,250 before closing at 25,219.90. The advance-decline ratio was balanced at 1:1, reflecting neutral market breadth. The index continues to trade between its 50- and 21-DMA, indicating consolidation within a defined range. On the daily chart, the relative strength index (RSI) has turned upward and is nearing 52, suggesting early signs of a potential reversal. However, the daily MACD remains in a downtrend with a negative crossover above the zero line, reflecting that underlying bearish sentiment still lingers. According to O'Neil's methodology of market direction, market status has been downgraded to an "Uptrend Under Pressure" as Nifty breached its "50-DMA" and the "distribution day count" rose to five. The index closed above 25,200 and continued to trade above its 50-DMA, indicating a potential pullback rally. For bullish momentum to resume, a decisive breakout and sustained close above 25,300 will be crucial. On the downside, failure to hold above 24,900 may trigger further weakness, with key support levels seen at 24,750 and 24,500 in the coming sessions. How did Nifty Bank perform? Nifty Bank opened on a strong note and traded in positive territory throughout the session, reflecting sustained buying interest. The index successfully reclaimed its 21-DMA, indicating a potential shift in short-term sentiment. On the technical front, a bullish candle was formed on the daily chart, with a higher-high and higher-low price structure. This pattern suggests strengthening momentum and the possibility of further upside. Overall, the day's price action was technically constructive, reinforcing a positive outlook for the index. The momentum indicator, RSI, has inched higher and is currently positioned at 57, indicating mild strengthening. Meanwhile, the MACD continues to trade above its central line, despite maintaining a negative crossover. This setup reflects a mixed momentum outlook, with early signs of recovery tempered by caution. According to O'Neil's methodology of market direction, Bank Nifty remains in a 'Confirmed Uptrend', a status it has maintained over the past few weeks. Nifty Bank is currently trading well above its 50-DMA and has reclaimed its 21-DMA, reflecting a positive undertone. If the prevailing buying momentum persists, the index may gradually advance toward 57,500–57,600 in the near term. Conversely, a sustained close below 56,200 could trigger an additional downside, with potential support near 55,000. MarketSmithIndia is a stock research platform and advisory service focused on the Indian stock market. It offers tools and resources to help investors make informed decisions based on the CAN SLIM methodology, founded by legendary investor William J. O'Neil. You can access a 10-day free trial by registering on its website. Trade name: William O'Neil IndiaPvt. Ltd. Sebi Registration No.: INH000015543 Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
13 minutes ago
- Mint
Canada fires fresh salvo at India's electronics subsidy at WTO amid trade dialogue reset
New Delhi: Canada has stepped up scrutiny of Indian subsidies for electronics and semiconductor production, submitting a fresh set of questions at the World Trade Organization (WTO) this month. The latest round of queries focuses not only on central government schemes such as Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) and the expired North East Industrial Development Scheme, but also scrutinises state-level programmes such as Karnataka's New Industrial Policy (2020-25) and State Incentive Subsidy programmes, as per a WTO document reviewed by Mint. The move comes at a time when New Delhi and Ottawa have begun talks on resuming bilateral trade negotiations after a period of frosty ties. According to a WTO communication dated 21 July, Canada has sought further clarity on SPECS, particularly the product categories covered by it and the eligibility criteria that applicants must meet. The queries come against the backdrop of India recording an exponential rise in exports of electronic goods to Canada—from $64.17 million in FY22 to $214.57 million in FY25, marking a jump of 235%, commerce ministry data showed. India had earlier stated that electronic goods under this scheme are identified through Harmonized System of Nomenclature (HSN) codes, and that the eligibility requirements vary across sub-programmes. In its new query, Canada has asked India to share the full list of relevant HSN codes and provide more detail on the eligibility norms, as per the WTO document. "India is preparing to provide written responses to Canada's latest queries within the stipulated timeframe," said a government official who wished not to be named. Earlier in April, Canada was one of three countries, along with the UK and the US, that questioned India's electronics manufacturing subsidy, which India defended as being consistent with WTO norms, arguing that the programmes aim to build domestic capacity in a critical sector and attract investments into electronic value chains. Canada's questions are part of its ongoing review of India's 2021-2023 new and full subsidy notification to the WTO's Committee on Subsidies and Countervailing Measures. "With industrial policy making a comeback, major economies are closely scrutinizing the subsidy schemes of other countries, and India is also facing similar scrutiny," said Abhijit Das, an international trade expert and former head of the Centre for WTO Studies, New Delhi. In June, when Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney met on the sidelines of the G7 Summit in Kananaskis, Canada, they agreed to revive the stalled trade talks between the two countries. The two leaders met for the first time since Carney took office following Canada's recent elections. During the meeting, both sides underscored the need to resume negotiations on an Early Progress Trade Agreement (EPTA) and take it forward with the objective of concluding a broader Comprehensive Economic Partnership Agreement (CEPA), as per a press note issued by the Prime Minister's Office (PMO) on 18 June. Trade between India and Canada stood at $8.4 billion in FY24, with India's exports at $3.85 billion and imports at $4.55 billion. In FY25, trade rose marginally to $8.77 billion, as exports increased to $4.22 billion while imports remained nearly flat at $4.55 billion, commerce ministry data showed. Exports of electronic goods stood at $173.62 million in FY23, dipped slightly to $171.54 million in FY24, before rising sharply to $214.57 million in FY25. Queries emailed to the ministries of commerce, electronics, and information technology remained unanswered till press time. To promote domestic manufacturing of semiconductors and electronic components, the government has launched key subsidy schemes. The SPECS scheme offers 25% incentive on capital expenditure for setting up or expanding manufacturing units. The PLI scheme provides 4–6% incentives on incremental sales of mobile phones and specified components, attracting major global and Indian firms. Launched in December 2021, the Semicon India Programme is a ₹76,000 crore initiative offering up to 50% fiscal support for semiconductor fabs, display fabs, OSAT units, and design-linked incentives for chip design startups.
