Breakout stock! Avic Chengdu Aircraft share price jumps amid Israel-Iran war. Do you own?
Although analysts highlighted that this rally is more sentiment-led and speculation-driven.
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Time of India
an hour ago
- Time of India
Delhi HC clears Nilkamal JV to sell stella brand cooktops
Tired of too many ads? Remove Ads The Delhi High Court has allowed Cambro-Nilkamal , a joint venture of Nilkamal Ltd , to sell induction cooktops under the brand name Stella, Stelladexin and other similar a 2024 interim injunction order, Justice Amit Bansal said that the balance of convenience is in favour of Cambro-Nilkamal as grant of an interim injunction would prevent them from using the Stella marks, which have been used by Chinese firm Stella Industrial Co Ltd in India since the other hand, grant of interim injunction would create the monopoly in favour of Products and Ideas (India), which only imports the goods bearing the Stella Marks from Stella Industrial, it said, while vacating its last year's order favouring the and Ideas, a company dealing in commercial kitchen and bakery equipment in India, was selling commercial induction cooktops under the brand name Stelladexin. The Stelladexin mark was adopted by Stella Industrial Co, which had allowed Products and Ideas to use the brand name and authorised it to register the said court noted that just like Products and Ideas, the Nilkamal joint venture was also importing goods from the Chinese company through its authorised distributors and selling the same in India and the goods sold by the joint venture were genuine and original products of the Chinese company, imported and resold with full authorisation from Stella Industrial.
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Business Standard
an hour ago
- Business Standard
Foxconn recalls staff from India, iPhone 17 production may be hit
In a blow to Apple's India expansion plans, Foxconn Technology Group has asked its Chinese engineers and technicians to return home from its iPhone factories in India. This move is likely to impact the production timeline of the iPhone 17 lineup, expected to be unveiled in mid-September 2025. Sources indicate that Foxconn—previously preparing for a new assembly unit—may have made this decision following a directive from the Chinese government. This also comes at a time when China is reportedly delaying the clearance of critical smartphone manufacturing equipment needed to make the new iPhone models in India. The delay could hinder the training of the local workforce and slow the transfer of manufacturing technology from China to India, potentially increasing production costs. An Apple spokesperson did not respond to queries from Business Standard by the time of going to press. Interestingly, Foxconn had been planning to hire 1,000 additional local employees in India by mid-July, adding to its current workforce of around 40,000, according to a South India-based industry source. Industry experts said the company may consider recruiting engineers from Vietnam to replace the Chinese staff. The development is seen as a protectionist move by Beijing aimed at preventing manufacturers from shifting production out of China, as it also restricts technology transfers and equipment exports. When asked about the issue, a senior official from the Ministry of Electronics and Information Technology (MeitY) said, 'We don't see any problem. Their technicians come from China and Taiwan regularly. We also have enough trained manpower. Many companies have also started manufacturing machines locally. At most, there may be some disruption for a month.' Earlier in the day, Bloomberg reported that Foxconn had asked hundreds of Chinese engineers and technicians to return home from its iPhone plants in India. Apple Chief Executive Officer Tim Cook has previously praised the skill and efficiency of Chinese assembly workers, stating that it was not just cost advantages but their expertise that led to the concentration of Apple's production in China. Apple is expected to release four models in its 2025 lineup: the iPhone 17, iPhone 17 Pro, iPhone 17 Pro Max, and a new variant, the iPhone 17 'Air'. China's decision to recall staff could deal a significant blow to Apple's target of producing iPhones worth $40 billion in India by the end of FY26. This production was intended to serve 80 per cent of US demand and 100 per cent of India's growing domestic demand. Of the $40 billion target, export markets are expected to contribute $32–35 billion, while the domestic market accounts for an estimated $5–8 billion. While Foxconn continues to manufacture most iPhones in China, it has built up significant assembly operations in India in recent years. The company had deployed a large number of experienced Chinese engineers to accelerate its expansion, the Bloomberg report added.
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Business Standard
an hour ago
- Business Standard
Foxconn's Chinese engineers called back, disrupting Apple's India expansion
Over 300 Chinese engineers and technicians have been sent back from Foxconn's iPhone factories in India, raising concerns about a potential slowdown in Apple's local manufacturing push. According to a Bloomberg report citing sources, the recall began nearly two months ago, with the majority of Chinese staff at Foxconn's southern India facilities asked to return home. Most of those who remain are Taiwanese support personnel. While Foxconn has not issued any statement on the move, it aligns with recent informal efforts by Chinese authorities to discourage the transfer of skilled labour, technology, and equipment to countries like India and Vietnam. Apple's dependence on Chinese expertise Apple CEO Tim Cook has often praised the proficiency of China's assembly workforce, attributing the company's reliance on the country to their expertise rather than just cost advantages. While the withdrawal of these staff from India is not expected to affect product quality, it could impact assembly line efficiency, a source told Bloomberg. The development comes at a crucial moment for Apple, which is working with manufacturing partners in India to scale up production of the upcoming iPhone 17. So far, Apple has not issued any comment on the development. China tightens grip on tech exports Foxconn's decision appears to align with recent efforts by Beijing to limit the movement of technology, skilled professionals, and specialised equipment out of China. These measures are seen as a response to growing interest from countries like India and Vietnam, which are working to attract global tech manufacturers amid ongoing tensions between the United States and China. Recently, China even halted the export of key rare earth metals. This shift in supply chains began during Donald Trump's first term as US president, when Apple started shifting some of its device production to India and Vietnam. The trend has continued, especially as Trump pushes forward with new tariff plans. In response, China has tightened its grip on exports of rare earth materials, technology, and labour. Foxconn's presence in India Although Foxconn still produces most iPhones in China, it has steadily expanded its operations in India, as earlier reported by Business Standard. To support this growth, the company had deployed many experienced Chinese engineers to help speed up production and train Indian workers. Chinese supervisors have played a key role in guiding Foxconn's Indian workforce. Large-scale iPhone production in India began just four years ago and now contributes around 20 per cent of global output. Apple aims to manufacture most iPhones destined for the US market in India by the end of 2026. However, Trump has criticised this move, saying Apple should make phones for American users within the US. High labour costs in the US make this idea difficult to implement. And if China restricts the movement of its skilled engineers, setting up advanced manufacturing in the US would become even less viable. India-China relations Meanwhile, India and China continue to share a strained relationship. While tensions have eased slightly over the past year, and high-level meetings have resumed, direct flights between the two countries remain suspended. India still enforces strict visa rules for Chinese nationals and maintains bans on Chinese apps like TikTok. On the other hand, China continues to block exports of fertilisers to India, even though such restrictions have been lifted for other nations.
