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Time of India
a day ago
- Business
- Time of India
Deadline for ECMS applications extended to September-end: MeitY
Academy Empower your mind, elevate your skills The government has extended the application window for the Electronics Component Manufacturing Scheme (ECMS) by two months to 30 September, the ministry of electronics and information technology ( MeitY ) said on initial three-month application window for the nearly Rs 23,000 crore scheme ended on Wednesday and has already seen more than 110 applications being filed, according to sources. MeitY was planning to extend the scheme after receiving a good response from the industry, ET had reported last the decision to extend the deadline was finalised after companies had asked for the same, industry sources had Rs 22,919 crore scheme aims to establish a strong domestic manufacturing ecosystem for a range of components that are fundamental building blocks in nearly all modern electronic devices. These include bare components such as Multi-layer Printed Circuit Board (PCB) and Li-ion cells for digital applications, passive components like resistors, capacitors, and inductors, as well as display and camera module for ECMS opened for applications on May 1, a month after China imposed strict export controls and licensing requirements for rare earths, of which it controls over 90 percent of the global processing capacity and the largest in April, Union electronics and IT minister Ashwani Vaishnaw had said ECMS will serve as a horizontal scheme that will support not just electronics but also the industrial, power, and automobile sectors and more during the launch of the application government aims to attract investments worth Rs 59,350 crore, production worth Rs 456,500 crore, and direct employment of 91,600 persons. This offers a flexible incentive structure that can be production-linked (turnover-linked), capex-linked, or a hybrid of both. Incentives are to be paid progressively over six years, running from 2025-26 to ECMS is the successor of the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) launched in 2020, which provided a 25 percent capital subsidy for investments in the manufacturing of electronic components, semiconductors, specialised sub-assemblies, and capital goods.
Economic Times
a day ago
- Business
- Economic Times
Deadline for ECMS applications extended to September-end: MeitY
Agencies The government has extended the application window for the Electronics Component Manufacturing Scheme (ECMS) by two months to 30 September, the ministry of electronics and information technology (MeitY) said on Wednesday. The initial three-month application window for the nearly Rs 23,000 crore scheme ended on Wednesday and has already seen more than 110 applications being filed, according to sources. MeitY was planning to extend the scheme after receiving a good response from the industry, ET had reported last week. However, the decision to extend the deadline was finalised after companies had asked for the same, industry sources had said. The Rs 22,919 crore scheme aims to establish a strong domestic manufacturing ecosystem for a range of components that are fundamental building blocks in nearly all modern electronic devices. These include bare components such as Multi-layer Printed Circuit Board (PCB) and Li-ion cells for digital applications, passive components like resistors, capacitors, and inductors, as well as display and camera module sub-assemblies. Applications for ECMS opened for applications on May 1, a month after China imposed strict export controls and licensing requirements for rare earths, of which it controls over 90 percent of the global processing capacity and the largest reserves. Back in April, Union electronics and IT minister Ashwani Vaishnaw had said ECMS will serve as a horizontal scheme that will support not just electronics but also the industrial, power, and automobile sectors and more during the launch of the application window. The government aims to attract investments worth Rs 59,350 crore, production worth Rs 456,500 crore, and direct employment of 91,600 persons. This offers a flexible incentive structure that can be production-linked (turnover-linked), capex-linked, or a hybrid of both. Incentives are to be paid progressively over six years, running from 2025-26 to ECMS is the successor of the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) launched in 2020, which provided a 25 percent capital subsidy for investments in the manufacturing of electronic components, semiconductors, specialised sub-assemblies, and capital goods. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Regulators promote exchanges; can they stifle one? Watch IEX Jane St: How an options trader smelt a rat when others raised a toast TCS job cuts may not stop at 12,000; its bench policy threatens more From near bankruptcy to blockbuster drug: How Khorakiwala turned around Wockhardt Stock Radar: SBI Life rebounds after testing 50-DEMA; could hit fresh record highs above Rs 2,000 – check target & stop loss These 10 banking stocks can give more than 25% returns in 1 year, according to analysts Two Trades for Today: A metals stock for an over 6% gain, a large-cap chemicals maker for about 7% upmove F&O Radar| Deploy Broken Wing in LIC Housing Finance to benefit from bearish outlook
India Gazette
01-07-2025
- Business
- India Gazette
Cabinet approves Research and Development and Innovation scheme with corpus of Rs 1 lakh crore to boost strategic, sunrise domains
New Delhi [India], July 1 (ANI): In a significant step to bolster India's research and innovation ecosystem, the Union Cabinet on Tuesday approved research development and innovation (RDI) scheme with a corpus of Rs one lakh crore to scale up research, development and innovation in strategic and sunrise domains. Briefing reporters on the cabinet decisions, Information and Broadcasting Minister Ashwani Vaishnaw said Research Development and Innovation (RDI) Scheme recognises the critical role that the private sector plays in driving innovation and commercialising research. The RDI Scheme aims to provide long-term financing or refinancing with long tenors at low or nil interest rates to spur private sector investment in RDI. The scheme has been designed to overcome the constraints and challenges in funding the private sector and seeks to provide growth and risk capital to sunrise and strategic sectors to facilitate innovation, promote technology adoption, and enhance competitiveness. Key objectives of the Scheme are to encourage the private sector to scale up research, development, and innovation (RDI) in sunrise domains and in other sectors relevant for economic security, strategic purpose, and self-reliance. The scheme will finance transformative projects at higher levels of Technology Readiness Levels (TRL). In addition, the project support acquisition of technologies which are critical or of high strategic importance, and facilitate setting up of a Deep-Tech Fund of Funds. An official release said that the Governing Board of Anusandhan National Research Foundation (ANRF), chaired by the Prime Minister, will provide overarching strategic direction to the RDI Scheme. The Executive Council (EC) of ANRF will approve the Scheme's guidelines, and recommend 2nd level fund managers and scope and type of projects in sunrise sectors. An Empowered Group of Secretaries (EGoS) led by the Cabinet Secretary, will be responsible for approving scheme changes, sectors and types of projects as well as second-level fund managers besides reviewing the performance of the Scheme. The Department of Science and Technology (DST) will serve as the nodal department for implementation of RDI Scheme. The RDI Scheme will have a two-tiered funding mechanism. At the first level, there will be a Special Purpose Fund (SPF) established within the ANRF, which will act as the custodian of funds. From the SPF funds shall be allocated to a variety of second level fund managers. This will be mainly in the form of long-term concessional loans, the release said. The funding to R&D projects by the second level fund managers would normally be in the form of long-term loan at low or nil interest rates. Financing in the form of equity may also be done, especially in case of startups. Contribution to Deep-Tech Fund of Funds (FoF) or any other FoF meant for RDI may also be considered. By addressing the critical need of private sector for long-term, affordable financing, the RDI Scheme fosters self-reliance and global competitiveness, thereby facilitating a conducive innovation ecosystem for the country as it marches towards Viksit Bharat at 2047, the release said. (ANI)
Hindustan Times
29-06-2025
- Business
- Hindustan Times
From July 1, reservation charts to be released 8 hours before train departure
New Delhi: The Indian Railways on Sunday said that it would prepare the reservation chart eight hours before the train departure time, starting from July 1. The railways also said that it will introduce a Modern Passenger Reservation System (PRS) by December this year. (Representational image) As of now, the chart that determines whether waitlisted tickets are confirmed is prepared and released just four hours prior to the train's departure time. The move is expected to give passengers more clarity and time to make alternative travel arrangements in case their train tickets do not get confirmed. '..Wherever passengers are coming from a nearby area to catch the train, this uncertainty can cause serious problems. To remove this uncertainty, the railway board has proposed preparing the reservation chart eight hours before the departure,' a statement from the railways said. 'The Railway Minister agreed with this proposal and directed the board to start implementing this in phases so that there is no disruption,' it added. 'The passengers will get the first update on waitlist status well in advance. It will benefit passengers travelling from remote locations or suburbs of major cities for catching long distance trains. It will also provide more time to make alternative arrangements in case the wait list is not confirmed,' the railways said, adding that it will reduce uncertainties for passengers with waitlist tickets. The railways also said that it will introduce a Modern Passenger Reservation System (PRS) by December this year. Railway minister Ashwani Vaishnaw reviewed the upgradation of the passenger reservation system, it said, adding that the project is being executed for the last few months by the Centre For Railway Information Systems (CRIS). 'The new upgraded PRS design to handle ten times the current load. It will significantly enhance the ticket booking capacity…it will allow over 1.5 lakh ticket bookings per minute. This will be an increase of roughly five times from 32,000 tickets per minute in the current PRS,' it said. 'The ticket enquiry capacity will jump ten times from 4 lakh to over 40 lakh per enquiry will be possible in a minute time. The new PRS also has a multilingual and user-friendly booking and enquiry interface,' the statement added. Passengers will be able to submit their choice of seat and see the fare calendar. It also has integrated facilities for Divyangjan, students, patients, it said. This comes after the railways announced that only authenticated users will be allowed to book Tatkal tickets on IRCTC website and mobile app beginning July 1 and that an OTP-based authentication will be done for Tatkal bookings from the end of July. 'The authentication will be done using Aadhaar or any other verifiable Government ID available in the user's DigiLocker account,' the statement concluded.
Time of India
16-06-2025
- Business
- Time of India
Tata Electronics builds India's 1st semiconductor fabrication unit: Gujarat enables 1,500 residential units; mainly for Tata Group staff, suppliers
The first chip production from Dholera would commence by December 2026. (AI image) India's 1st semiconductor fabrication unit: Gujarat is facilitating the construction of 1,500 residential accommodations for expatriates and staff members of the Tata Group and its vendors at Dholera, Ahmedabad district, where the organisation is establishing India's first semiconductor fabrication facility. The development is taking place within the Dholera Special Investment Region. The Rs 91,000 crore Tata Electronics fabrication facility is projected to create over 20,000 skilled employment opportunities, both direct and indirect. Construction has commenced on an additional 1,000 units, supplementing the existing 500 apartments, with completion anticipated by February-March next year. These serviced accommodations offer options of one, two or three bedrooms. "There is an availability of about 275 apartments currently of which about 250 have been occupied by the Tata Group and their suppliers and other ecosystem companies, while 225 are nearing completion," said Mona Khandhar, principal secretary at the Department of Science and Technology in Gujarat according to an ET report . "They are in Dholera, in the vicinity of the upcoming fab and have been occupied by the teams presently stationed there. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo " At the ground-breaking event of the Tata facility in Dholera in March 2024, union minister for electronics and information technology Ashwani Vaishnaw said that the first chip production from Dholera would commence by December 2026. Tata Electronics semiconductor unit "The Gujarat government hasn't directly constructed these (residential) facilities," Khandhar explained. "Private developers have undertaken the projects on plots auctioned through a special purpose vehicle established by the Gujarat government. These dwellings are separate from those the Tata Group plans to develop independently." Also Read | Big win! China companies now exporting 'Made in India' smartphones & electronics to US, West Asia; notable shift for Chinese brands The initial phase involves a 10-acre allocation to the Tata Group, with plans to complete 530 apartments by mid-2027, she indicated. "As the Tata Group serves as an anchor investor, we ensure their consultation when necessary to maintain coordinated efforts," she said. The Gujarat government is facilitating infrastructure development for Tata Group employees and suppliers, including expatriate staff. The development encompasses a fire station, school, hospital, desalination plant, hotel and additional facilities including a 'Global Tent City'. The Gujarat government intends to create an environment in Dholera reminiscent of expatriates' native countries. The Global Tent City will feature culinary streets representing Taiwan, Korea, Japan, the US and various European nations. Plans also include a premium mall and accommodation facilities. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
