
Contract maker Zetwerk set to pump Rs 500–800 crore for component making
Synopsis
Zetwerk plans to invest Rs 500–800 crore in manufacturing printed circuit boards (PCBs), enclosures, and electromechanical components. Cofounder Rahul Sharma mentioned the company is preparing for the government's PLI scheme and has technology tie-ups with Taiwanese companies. Zetwerk is also exploring collaborations with South Korean and Chinese firms, pending government approvals, to enhance India's self-reliance in electronics manufacturing.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time of India
35 minutes ago
- Time of India
Bengaluru auto overcharging row: Transport Minister slams app-based 'loot', vows permit cancellations for 'daylight robbery'
Karnataka Transport Minister Ramalinga Reddy has directed the Transport Commissioner to take strict action against autorickshaws in Bengaluru, including those operating via mobile apps, for charging passengers more than the government-fixed fares. He called the practice 'daylight robbery' in a letter dated June 28. The minister said that if any autorickshaw driver is found overcharging or cancelling rides when commuters refuse to pay extra, their permit should be cancelled and a police case should be registered immediately. Citing specific examples, Reddy referred to fare data from June 18. 'Rapido Auto App charged Rs 100.89 per km, while Auto O App charged Rs 184.19 for a 4 km ride,' he said, calling this 'unforgivable'. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo As per government rules, the official meter fare in Karnataka is Rs 30 for the first 1.9 km and Rs 15 for each additional kilometre. However, complaints about overcharging and ride refusals have continued to flood in, the minister added. Reddy said that although the Transport Department has taken action earlier, tougher and more effective steps are now needed. He also attached commuter-provided screenshots as evidence and asked the department to create a detailed action plan. Live Events 'It has been directed to immediately prepare an effective action plan to protect the public and take stern action against auto drivers and owners found guilty,' he said. Inputs from TOI


Time of India
40 minutes ago
- Time of India
Trade fallout: India's ban on Pakistan-origin cargo at ports triggers spike in freight costs, delays for Islamabad
Representative image India's ban on ships carrying goods originating in or exported from Pakistan has led to a sharp rise in freight charges and longer shipping times for Pakistani importers, Dawn newspaper reported, citing industry officials. The ban, imposed on May 2, 2025, following the Pahalgam terror attack, prohibits both direct and indirect movement of Pakistani goods through Indian ports. As per news agency PTI, this comprehensive restriction has not only impacted maritime logistics but also prompted intensified enforcement by Indian agencies to detect violations. 'Mother vessels are not coming to Pakistan due to this Indian action, which delays our imports by 30 to 50 days,' said Javed Bilwani, president of the Karachi Chamber of Commerce and Industry, in comments reported by Dawn. He said importers now rely on feeder vessels, resulting in increased transportation costs. Exporters, too, confirmed a spike in logistics expenses, especially in insurance costs. 'There is no significant impact on exports, except for a rise in insurance costs. Shipping charges had already gone up even before the escalation,' said Aamir Aziz, a textile exporter, as cited in the Dawn report. Pakistan's export sector, which heavily depends on imported raw materials for value addition, now faces added operational difficulties. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trending in in 2025: Local network access control [Click Here] Esseps Learn More Undo With Islamabad already restricting non-essential imports to manage its forex reserves, supply chain disruptions caused by the Indian ban carry broader economic implications. The Indian government's stance has been reinforced through multiple enforcement drives. In one such action, the Directorate of Revenue Intelligence (DRI) launched 'Operation Deep Manifest' to target illegal imports of Pakistani goods routed through third countries like the UAE. The finance ministry said that so far, 39 containers carrying over 1,100 metric tonnes of goods valued at Rs 9 crore have been seized under the operation. These goods were falsely declared as UAE-origin but were found to have originated from Pakistan, transshipped via Dubai. The DRI discovered money trails and financial links connecting Indian importers with Pakistani entities, and arrested one of the partners of a trading firm involved in the operation. According to the ministry, this complex modus operandi was designed to obscure the true origin of the goods using a web of intermediaries in Pakistan and the UAE. The crackdown is part of broader national security operations such as 'Operation Sindoor', aimed at tightening border trade oversight in response to regional threats. India had already raised import duties on Pakistani goods to 200% after the 2019 Pulwama terror attack. Since then, formal trade relations have remained frozen. Bilateral trade between the two countries dropped from $2.41 billion in 2018 to just $1.2 billion in 2024, as per PTI. Pakistan's exports to India declined sharply from $547.5 million in 2019 to only $480,000 last year. The government maintains that the trade restrictions are critical to safeguarding India's national and economic security and preventing misuse of trade channels. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
&w=3840&q=100)

Business Standard
an hour ago
- Business Standard
Indian auto delegation yet to leave for China for rare earth magnets talks
Indian Auto industry representatives are yet to leave for China to expedite the import of rare earth magnets as the delegation is still awaiting a formal go-ahead from the Chinese commerce ministry for a meeting, as per industry sources. Around 40-50 industry executives have received visas last month, but are still awaiting a formal nod from the Chinese authorities for the meetings on the matter. Staring at shortages, the domestic automobile industry has also sought government support in expediting approvals from China to import rare earth magnets. "They (Chinese authorities) have not given any appointment so far, so the delegation is yet to leave. Situation is bad as not even a single license has been issued to us so far," a source told PTI. If the situation remains like this, the domestic automobile industry will be staring at shortages resulting in significant production losses, the source added. The domestic auto industry is forced to take steps as the Chinese government has put restrictions since April 4 this year on the export of rare earth elements and related magnets. China has mandated special export licences for seven rare earth elements and related magnets. The country controls over 90 per cent of the global processing capacity for magnets, used across sectors, including automobiles, home appliances and clean energy. The critical materials include samarium, gadolinium, terbium, dysprosium and lutetium, which are essential in electric motors, braking systems, smartphones and missile technology. Rare earth magnets are integral to permanent magnet synchronous motors (PMSMs) used in EVs for high torque, energy efficiency and compact size. Hybrids also depend on them for efficient propulsion. In internal combustion engine (ICE) vehicles, the use of rare earth magnets is largely limited to electric power steering and other motorised systems. In April this year, China, the world's dominant exporter of rare earth magnets, imposed export restrictions on seven rare earth elements and finished magnets, mandating export licences. The revised framework demands detailed end-use disclosures and client declarations, including confirmation that the products will not be used in defence or re-exported to the US. India, which sourced over 80 per cent of its 540 tonnes of magnet imports from China last fiscal, has started to feel the impact. By May 2025, nearly 30 import requests from Indian companies were endorsed by the Indian government, but are yet to be approved by the Chinese authorities, and no shipments have arrived. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)