Latest news with #PrasoonSrivastava
Time of India
7 days ago
- Business
- Time of India
Chinese techies return not to impact iPhone 17 production, Apple's ramp-up plan intact
By Prasoon Srivastava The return of Chinese technology professionals from an Apple vendor's facility will have no impact on the production of the upcoming iPhone 17, sources aware of the development said on Tuesday. iPhone maker Apple continues to be on track to scale up production in India, sources said. According to the sources, Apple vendors in India, Foxconn and Tata Electronics , have also seen easing of capital goods sourcing from China. These capital goods are critical for the production of iPhones. "The return of Chinese professionals from Foxconn has had no impact on iPhone production. The production of iPhone 17 in India will be as per schedule," a source aware of the development on iPhone production told PTI. A query sent to Apple, Foxconn and Tata Electronics did not elicit any response on the matter. Multiple sources have shared that hundreds of Chinese professionals working at Foxconn India units have returned to China in the last two months. According to sources, these engineers were handling assembly lines, factory design and also involved in training talents to handle tools and machines for iPhone production. Another source said that there has been an easing of the supply of capital goods from China as well for iPhones. "Apple partners have seen an easing of supply of capital goods. So there is no impact on iPhones' production in India," the source said. The person said that there is no change in Apple's plan to ramp up production in India. According to multiple sources, Apple plans to increase iPhone production to 60 million units this year from about 35-40 million units that it produced in 2024-25. Apple CEO Tim Cook, during the second-quarter earnings call had announced that all iPhones sold in the US in the June quarter will be shipped from India. India-made iPhones are assembled in Taiwanese contract manufacturer Foxconn's factory in Tamil Nadu. Tata Electronics, which runs Pegatron Corp's operations in India, is the other key manufacturer. Tata and Foxconn are building new plants and adding production capacity to increase iPhone production. Apple assembled 60 per cent more iPhones, worth an estimated USD 22 billion, in India in the year ended March 31, 2025. According to an analysis by S&P Global, iPhone sales in the US were 75.9 million units in 2024, with exports in March from India at 3.1 million units, suggesting a need to double shipments either through new capacity or redirecting shipments bound for the domestic market. "Apple's Indian exports already headed predominantly to the United States, which represented 81.9 per cent of phones exported by the firm in the three months to February 28, 2025. That increased to 97.6 per cent in March 2025 as a result of a 219 per cent jump in exports, likely reflecting the firm looking to preempt higher tariffs," S&P Global Market Intelligence report said. Union Minister Ashwini Vaishnaw had in April announced that iPhones worth Rs 1.5 lakh crore were exported from India in fiscal year 2025. The Apple ecosystem in India is one of the biggest job creators in the country. It is estimated to have employed around 2 lakh people across various vendors in the country. India's smartphone exports are growing at a healthy rate and have become a "consistent and significant" player in the sector, an official said, adding that the country has become a major mobile manufacturing hub today.
Time of India
07-07-2025
- Business
- Time of India
Electronics makers hit by gold compound import curbs after China rare earth squeeze
By Prasoon Srivastava India's electronics manufacturing sector , which has been struggling with China's restrictions on rare earth magnet exports, faces a double whammy with import curbs on gold compound -- a key raw material. Rare earth magnets have diverse utility ranging from computer chips and electronic components to electric vehicles, wind turbines, and medical equipment. Gold compounds are also widely used in critical electronic components to improve flow of electric current in motherboards, semiconductors etc. The Directorate General of Foreign Trade (DGFT) in an order dated June 17 reclassified imports of colloidal precious metals and compounds from "free" to "restricted" category. The development followed restrictions from China on export of rare earth magnets and specialised capital goods. India Cellular and Electronics Association (ICEA) in a letter to the Ministry of Electronics and IT said that the import restriction has brought in uncertainty in the efforts of industry to scale up domestic electronics manufacturing . "The recent import restriction has affected the availability of this critical material. This has introduced uncertainty in light of ongoing efforts to scale up electronics manufacturing. The resulting policy unpredictability may also deter investment in critical sub-assembly segments where these inputs are essential," ICEA Chairman Pankaj Mohindroo said. While demanding measures to resolve the import of gold compounds, Mohindroo said the Electronics Component Manufacturing Scheme (ECMS) aims to localise key components such as printed circuit boards, camera modules, mechanical parts and connectors -- all of which require a gold based plating materials as part of the manufacturing process. Electronic component makers body Elcina in a letter to the Ministry of Electronics and IT said that customs authorities have begun holding consignments of Potassium Gold Cyanide (GPC) and similar materials, resulting in significant delays to production lines and disruption to supply chains in the electronics manufacturing sector. Elcina Secretary General Rajoo Goel said that Potassium Gold Cyanide, colloidal precious metals, and other compounds are used as critical raw materials in the manufacturing of electronic components, including connectors, high-end PCBs and semiconductors, among others. "These inputs are imported on an actual user basis and consumed entirely within the manufacturing process. They do not enter the bullion trade or precious metal markets. Their import is critical for captive consumption by electronics manufacturers and involves their usage in miniscule quantities (trace usage) in finished goods," he said. Elcina has said that import restriction will adversely impact the ease of doing business for electronic components manufacturers and ' Make in India ' to achieve the goals of the government's flagship schemes like ECMS, PLI and SPECS. In April 2024, China implemented strict export licensing on rare earth elements like terbium and dysprosium -- key inputs for high level performance NdFeB (Neodymium-Iron-Boron) magnets used in consumer electronics. Elcina estimates that over 21,000 jobs are at risk in Noida and South India in the country's audio electronics segment due to restrictions imposed by China on export of rare earth metals. Electronics manufacturing services companies are also facing problems in importing capital goods from China which is delaying their production. Recently, iPhone maker Foxconn had to send back hundreds of Chinese technology professionals who were helping the company's India unit in expansion of manufacturing capacity and training professionals for handling machines.
Time of India
29-06-2025
- Business
- Time of India
Only half of eligible players got telecom manufacturing PLI incentives, ₹1,162 cr disbursed till March 31
By Prasoon Srivastava New Delhi: Under the telecom production-linked incentive scheme, only 21 out of the 42 eligible manufacturers have been able to get incentives till March 31, 2025, as per data shared by the Department of Telecom. The Department of Telecom has disbursed ₹1,162 crore for the telecom product-linked incentive scheme till March 31, this year. The telecom product-linked incentive scheme came into effect from April 1, 2021 and is scheduled to end this fiscal year. "Total incentive disbursed under the Scheme till March 31, 2025 is ₹1,162.03 crore," DoT said in response to information sought under Right to Information. Only 21 out of the 42 shortlisted companies have received the incentive, while two companies were rejected for failing to achieve the target as per the scheme guidelines. The claim applications of two beneficiaries -- Coral Telecom Ltd for FY 2021-22 and -- Alphion India Pvt Ltd for FY 2022-23 have been rejected due to non-achievement of eligibility threshold criteria, the DoT said. One of the beneficiaries, on condition of anonymity said that some telecom gear makers were just white labelling imported products, which impacted production and margins under the PLI scheme . "A strict monitoring of the scheme is required to curb such unethical practices that have impacted the intent of the scheme. The government has given open support to telecom operators to improve their liquidity. "Telecom operators should also align with the government's ambition of self-reliance and job creation by encouraging procurement of products that come with higher local value addition," a senior official of a broadband gear maker said. The government had earmarked a total incentive of ₹4,115 crore under the scheme. The scheme was estimated to generate additional sales of ₹2.45 lakh crore and create additional employment of more than 44,000 over the scheme period. According to an official statement, beneficiaries under the scheme have made an investment of ₹4,081 crore, generating total sales of ₹78,672 crore, which includes export sales worth ₹14,963 crore till January 2025. The eligible players have generated employment for 26,351 individuals. Jabil Circuit was the biggest beneficiary of the scheme. It received ₹235.87 crore as incentive in two fiscal years 2022-23 and 2023-24. Flextronics received ₹165.12 crore in incentive, Nokia ₹157.32 crore, Reliance Industries backed NeoLync Tele Communications got ₹142.06 crore, Foxconn's Rising Stars received ₹80.33 crore and Syrma SGS got ₹53.23 crore. The list of beneficiaries that received less than ₹50 crore incentive include VVDN Technologies (₹48.37 crore), Sanmina-SCI (₹44.35 crore), Dixon India (34.78 crore) and GX India (₹20.91 crore).
Time of India
16-06-2025
- Health
- Time of India
Coronavirus Symptoms: New COVID wave, new symptoms? What doctors are noticing in recent cases
The NB.1.8.1 COVID variant is one of the newer subvariants making the rounds in mid-2025. It's part of the Omicron family—yeah, that same one that's been mutating since late 2021—and it's known for spreading pretty quickly. Tired of too many ads? go ad free now While it doesn't appear to be more deadly than previous strains, it's definitely more contagious, which means more people can get sick in a shorter time, especially if they're not up-to-date on their vaccines. Patients are presenting with typical flu symptoms along with gastrointestinal issues like nausea, diarrhea, and abdominal pain. So far, it doesn't appear to be a wave. The Omicron variant is mild, managed mostly on an outpatient basis, with very few requiring hospitalizations. There's no clear pattern; everyone is getting affected. The fewer precautions you take, the more vulnerable you are. The virus can evade immunity, raising questions about vaccine effectiveness. Since COVID is viral, confusion with other infections is common. However, with a systematic clinical assessment and targeted investigations, it's usually easy to differentiate. Most cases need no specific treatment, and many don't even realize they were infected. Those with symptoms are treated conservatively using antipyretics and rest. Post-COVID complications are rare. Given the low number of symptomatic cases, the incidence of complications is even lower. Prevention is key, being responsible helps protect others. Watch out for red flags like high fever over 104°F, difficulty in breathing, unrelenting cough, or confusion. If any of these occur, consult a nearby healthcare centre promptly. Tired of too many ads? go ad free now NB.1.8.1 hasn't triggered any global panic yet, but experts are watching it closely. Bottom line: it's not the worst variant we've seen, but it's a good reminder that COVID isn't totally done with us. Stay updated, stay cautious, and keep those hand sanitizers handy. Dr Prasoon Srivastava Consultant physician and intensivist, K J Somaiya Hospital & Research Centre
Time of India
30-04-2025
- Business
- Time of India
Foxconn India revenue rises to over $20 billion, employee count up at around 80,000
By Prasoon Srivastava Taiwanese electronics manufacturing major Foxconn is reported to have more than doubled its revenue in India to over $20 billion (about Rs 1.7 lakh crore) in the financial year 2024-25 on account of a jump in iPhone production, sources aware of the development said. The company is also learnt to have increased its total employee count in the country by over 65% to around 80,000 in fiscal year 2025, industry and government sources aware of the estimates told PTI. "Foxconn revenue in India has more than doubled to over USD 20 billion in the financial year 2024-25. The employee count has also gone over 80,000," one of the sources said. Email query sent to Foxconn in this regard elicited no reply. Union Minister Ashwini Vaishnaw earlier this month announced that mobile phone exports from India have crossed an all-time high of Rs 2 lakh crore in FY 2024-25 in which iPhone exports alone accounted for exports worth Rs 1.5 lakh crore. Sources said that Foxconn is expected to grow multifold in the current fiscal year as the iPhone maker is reportedly mulling to manufacture all iPhones for sale in the US market. Foxconn is the biggest manufacturer of iPhones. The company is already in the process of setting up its second largest facility outside China in Devanahalli near Bangalore with an investment of USD 2.8 billion, (about Rs 25,000 crore). The facility is expected to create over 40,000 jobs. The Taiwanese electronics manufacturing giant is also in discussion with the UP government to set up an electronics manufacturing unit in Uttar Pradesh which is also expected to be spread over an area of 300 acres. Besides mobile phone manufacturing, Foxconn has started production of AirPods in Hyderabad facility for exports with an investment of $400 million (about Rs 3,325 crore). Foxconn is also setting up a semiconductor joint venture , Vama Sundari, with HCL. The JV will initially invest Rs 3,706 crore in setting up an outsourced semiconductor Assembly and Test (OSAT) facility and expects to create around 4,000 jobs.
