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25 Sep
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14 Jun
Arts & EntertainmentPhotography

‘Toys, leather & new age e-bikes will be added to PLI scheme’, ET Retail


NEW DELHI: Toys, leather and new-age e-bikes will be added to the Production linked incentive (PLI) scheme that currently covers 14 sectors, a top official said on Tuesday, making a fresh move to expand manufacturing and creating jobs in these sectors.

R K Singh, secretary, Department for Promotion of Industry and Internal Trade (DPIIT) said these new sectors will be within the Rs 1.97 lakh crore PLI allocation made three years ago when it was launched. Two of them, toys and leather, are being added with the aim to create large-scale employment.

“Till now 733 PLI applications have been approved in the 14 sectors with expected investment of Rs 3.6 lakh crore. Over 170 MSMEs are among the beneficiaries in sectors like bulk drugs, medical devices, pharma, telecom, white goods, food processing, textiles and drones. Actual investment of Rs 62,500 crore has been realized till March 2023 which has resulted in incremental production/sale of Rs 6.7 lakh crore and employment generation for over 3.2 lakh people. Exports have been boosted by Rs 2.5 lakh crore till FY 2022-23,” said Singh.

Incentive amount of Rs 2,900 crore was disbursed in FY 23 for eight sectors – large scale electronics manufacturing (LSEM), IT hardware, bulk drugs, medical devices, pharma, telecom, food processing and drone. Claims were received for Rs 3,400 crore.

“Due to PLI schemes, there has been a significant 76% increase in FDI under the manufacturing sector in FY 2021-22 at $21.3 billion over FY 21’s $12.1 billion. Medical appliances saw 91% hike in FDI in that period, followed by pharma at 46% and food processing at 26%,”said the DPIIT secretary.

The government credits this scheme with bringing major smartphone manufacturers shifting suppliers to India like Foxconn, Wistron and Pegatron. “The PLI scheme for LSEM along with the existing phased manufacturing programme has led to increased value addition by 23% and 20% in electronics and smartphone manufacturing, respectively, from negligible in 2014-15. Of the total $101 billion total electronics production in FY 2022-23, smartphones contributed $44 billion including $11.1 billion as exports,” said the DPIIT official.

Import substitution of 60% has been achieved in the telecom sector and India has become almost self-reliant in antennae. The drone sector has seen a seven-fold jump in turnover due to PLI.

“Eight sectors are seeing a very good response. We expect other sectors to also pick up. These schemes are driven by various ministries and tweaks happen to make it more effective. There are also talks on to bring some more sectors under PLI,” said an official.

  • Published On Jun 14, 2023 at 08:27 AM IST

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14 Jun
Arts & EntertainmentPhotography

New draft policy promises to level ecommerce playing field, ET Retail


The new ecommerce policy will bring parity between foreign and Indian marketplaces and no such entity will be allowed to hold any equity in sellers selling on their platform or to sell own private labels on their platform, a consumer affairs department official said.

“Rules will be the same for Amazon and an Indian marketplace,'” said the official who is working closely on the draft policy, which is almost ready. The draft policy will be put out in public domain soon, the person said.

The government is also framing rules for the sector under the Consumer Protection Act, which will spell out the said prohibitions in detail. “The rules will address some of the issues concerning effective enforcement,” the official said.

The new policy and rules will ensure there is no direct or indirect sale of products to sellers registered on the ecommerce platform, the person said. It will also ensure catalogues and search results are displayed in a fair and transparent manner to consumers, the official added.

As of now, India allows 100% foreign direct investment (FDI) in the marketplace model of ecommerce where companies act as a technology platform connecting buyers and sellers. However, no FDI is permitted for the inventory-based model where platforms are selling directly to the consumer but they cannot allow third-party vendors.

The FDI laws also do not allow an entity to have equity participation by ecommerce marketplace or its group companies or control over its inventory to sell its products on the platform.

The government has been keenly watching the evolving ecommerce space after several complaints from small retailers and traders alleging that ecommerce platforms are flouting the FDI norms and indulging in predatory pricing, giving preferential treatment to certain sellers in which they hold stakes. Time and again, they have approached the government to ensure a level playing field.

In 2020, the Department of Consumer Affairs in the Ministry of Consumer Affairs, Food and Public Distribution, issued the Consumer Protection (ecommerce) Rules, under Section 101 of the Consumer Protection Act, 2019, which barred affiliated entities from selling on ecommerce platforms, which was opposed by both foreign-funded and Indian companies.

  • Published On Jun 14, 2023 at 08:12 AM IST

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13 Jun
Arts & EntertainmentPhotography

Accenture Planning Big for AI Segment, New Vertical to Have 80,000 employees


बड़ी IT कंपनियों में शामिल Accenture ने डेटा और आर्टिफिशियल इंटेलिजेंस वर्टिकल में तीन अरब डॉलर का इनवेस्टमेंट करने की योजना बनाई है। यह इस वर्टिकिल में एंप्लॉयीज की संख्या दोगुनी करेगी। एक्सेंचर की योजना इस सेगमेंट के लिए हायरिंग बढ़ाने के साथ ही कुछ कंपनियों को खरीदने की भी है। 

एक्सेंचर ने बताया कि तीन अरब डॉलर के इनवेस्टमेंट से 19 इंडस्ट्रीज से जुड़ी कंपनियों को मदद मिलेगी। बहुत सी IT कंपनियां आर्टिफिशियल इंटेलिजेंस (AI) के बढ़ते ट्रेंड का फायदा उठाने के लिए अपने प्रोडक्ट्स और सर्विसेज में AI को शामिल कर रही हैं। एक मीडिया रिपोर्ट में बताया गया है कि एक्सेंचर ने AI Navigator कहा जाने वाला एक नया टूल भी लॉन्च किया है। इससे कारोबारों को आर्टिफिशियल इंटेलिजेंस का बेहतर इस्तेमाल करने के बारे में जानकारी मिल सकेगी। 

पिछले वित्त वर्ष की अंतिम तिमाही में Accenture ने अपने वार्षिक रेवेन्यू और प्रॉफिट के पूर्वानुमान में कमी की थी। कंपनी ने बताया थी कि वह अपनी वर्कफोर्स को लगभग 2.5 प्रतिशत घटाएगी। एक्सेंचर से लगभग 19,000 वर्कर्स को बाहर किया जाएगा। यह ग्लोबल इकोनॉमी के कमजोर होने का एक और संकेत है। इस वजह से बहुत से सेक्टर्स में IT सर्विसेज पर खर्च में कमी की जा रही है। कंपनी से हटाए जाने वाले वर्कर्स में से आधे से अधिक ऐसे कॉरपोरेट फंक्शंस से होंगे जिनकी बिलिंग नहीं की जाती। इससे पहले एक्सेंचर की राइवल Cognizant ने IT सर्विसेज की डील्स में ग्रोथ कम होने की जानकारी दी थी।  

IT सेक्टर के लिए मुश्किलें बढ़ी हैं। देश में इस सेक्टर में पिछले एक वर्ष में लगभग 60,000 कॉन्ट्रैक्ट वर्कर्स की छंटनी हुई है। यह इंडस्ट्री लगभग 194 अरब डॉलर की है। इसमें लाखों लोगों को रोजगार मिला है। भारत की IT कंपनियों को अपने बिजनेस का बड़ा हिस्सा विदेश से मिलता है। इस वर्ष की शुरुआत में ग्लोबल IT कंपनी Microsoft ने हजारों वर्कर्स की छंटनी करने का फैसला किया था। माइक्रोसॉफ्ट से लगभग 11,000 वर्कर्स को बाहर किया जा सकता है। इसमें इंजीनियरिंग और ह्युमन रिसोर्सेज डिविजंस पर अधिक असर होगा। माइक्रोसॉफ्ट पर अपनी क्लाउड यूनिट Azure के ग्रोथ रेट को बरकरार रखने का प्रेशर है। पिछली कुछ तिमाहियों से मंदी के कारण पर्सनल कंप्यूटर्स के मार्केट को नुकसान हुआ है और इससे माइक्रोसॉफ्ट के विंडोज और डिवाइसेज की बिक्री में कमी हुई है। 

लेटेस्ट टेक न्यूज़, स्मार्टफोन रिव्यू और लोकप्रिय मोबाइल पर मिलने वाले एक्सक्लूसिव ऑफर के लिए गैजेट्स 360 एंड्रॉयड ऐप डाउनलोड करें और हमें गूगल समाचार पर फॉलो करें।

संबंधित ख़बरें



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13 Jun
Arts & EntertainmentPhotography

Oyo Stay Now Pay Later Option Introduced Android Users Now Make Payment After 15 Days of Booking


OYO ने लोगों की गर्मी की छुट्टियों के ट्रैवल को और दिलचस्प और टेंशन फ्री बनाने के लिए एक नया फीचर पेश किया है, जिसके तहत यूजर पहले अपना होटल बुक कर सकता है और उसका भुगतान बाद में कर सकता है। इस फीचर को Stay Now and Pay Later का नाम दिया गया है, जिसे आपने अलग-अलग नाम से विभिन्न सर्विस में देखा होगा। कंपनी अपने यूजर्स को बुकिंग के बाद भुगतान के लिए कुछ हफ्तों का समय देगी।

OYO ने अपने ऐप पर एक नया Stay Now and Pay Later फीचर जोड़ा है, जिसके जरिए यूजर्स अपनी बुकिंग का भुगतान बाद में कर सकते हैं। यह फीचर तुरंत पेमेंट करने की झंझट से छुटकारा देता है। इसके अलावा, जो यूजर ट्रैवल करते समय खर्चे की टेंशन लेते हैं, वे आराम से अपने ट्रैवल के बाद अपनी सुविधा के हिसाब से पेमेंट कर सकते हैं। 

OYO के अपने समर वेकेशन इंडेक्स 2023 के अनुसार, 82 प्रतिशत भारतीयों की इस गर्मी में यात्रा करने की योजना है, जबकि 92% घरेलू यात्रा कर रहे हैं। ऐसे में कंपनी ने यूजर्स की सहूलियत को ध्यान में रखते हुए इस फीचर को पेश किया है। इस फीचर के लिए कंपनी ने क्रेडिट-आधारित भुगतान सेवा, Simpl के साथ साझेदारी की है।

‘स्टे नाउ पे लेटर’ फीचर ग्राहकों को 5,000 रुपये तक की क्रेडिट लिमिट देता है, जिसे 15 दिनों के अंदर के बाद निपटाया जा सकता है। फीचर को OYO ऐप की होम स्क्रीन पर एक्सेस किया जा सकता है।

फीचर फिलहाल Android यूजर्स के लिए उपलब्ध है और इसे जल्द ही iOS पर भी रिलीज किया जाएगा।

इसी साल फरवरी में OYO ने देश में अपने प्रीमियम होटल्स की संख्या दोगुनी करने के प्लान की घोषणा की थी। ओयो ने बताया था कि इस साल इन होटल्स की संख्या लगभग 1,800 बढ़ाई जाएगी। हॉस्पिटैलिटी कंपनी के प्रीमियम होटल ब्रांड्स में Townhouse Oak, Oyo Townhouse, Collection O और Capital O शामिल हैं। ओयो के पास पहले से देश में लगभग 1,800 प्रीमियम होटल्स हैं। 

वहीं, मार्च में खबर आई थी कि OYO का मौजूदा फाइनेंशियल ईयर में रेवेन्यू 19 प्रतिशत बढ़कर 5,700 करोड़ रुपये से अधिक रहने की उम्मीद है। पिछले फाइनेंशियल ईयर में कंपनी का रेवेन्यू लगभग 4,780 करोड़ रुपये का था। ओयो का अगले फाइनेंशियल ईयर में लगभग 800 करोड़ रुपये का एडजस्टेड EBITDA हासिल करने का लक्ष्य है। 



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13 Jun
Arts & EntertainmentPhotography

99 Pancakes to invest Rs 15-16 crore to open 50 new stores, enter FMCG segment, ET Retail


99 Pancakes is planning to open 50 stores this fiscal and will take the total store count of the brand to 90, Vikesh Shah, Founder, 99 Pancakes told ETRetail in an exclusive interview.

The brand will be investing around Rs 15-16 crore to aid the expansion plans and will be entering into markets like Delhi.

“99 Pancakes reached around 70 stores within a time span of 2 years and expanded its reach to around 15 cities, however, COVID changed the game. We had to rethink our strategy and we started venturing into bigger stores from 150-200 sq.ft. to 600-800 sq.ft. stores and even stopped franchising,” he said.

“At present, 99 Pancakes has 42 stores spread across 12 cities and out of these, 22 stores are company-owned and company-operated stores,” he added.

Currently, the brand has a presence in tier I and II cities like Mumbai, Varanasi, Surat, and Raipur to name a few and has 2 hubs located in Mumbai and Hyderabad.

Going ahead, the brand is eyeing to expand its presence in tier II cities and plans to open 10-12 stores per city.

“Most of our stores will be opening on the high-streets,” he said.

It is also planning to raise funds and it will be utilising 20 per cent of those funds to open new stores and the rest of the funds will be utilised to open hubs in various cities – Bengaluru, Delhi, and Hyderabad – along with marketing.

Next fiscal, it is eyeing to open more hubs in cities like Chennai and Kolkata. The average cost to set up a new hub is around Rs 1 crore.

Apart from this, the brand is also planning to foray into the FMCG space with the launch of pancake and waffle premixes and brownie brittles.

“We will be launching these products at our stores first and then we will be taking them online and to the supermarkets,” he stated.

The pancake brand clocked Rs 15 crore revenue last fiscal and this year, we are eyeing to double it and plan to take it to Rs 30 crore this fiscal.

“At present, we have a presence in international markets like Australia and Melbourne and we are eyeing to turn EBITDA positive by this fiscal end,” he added.

  • Published On Jun 12, 2023 at 12:27 PM IST

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13 Jun
Arts & EntertainmentPhotography

Government tells Chinese handset companies to get Indian equity partners, ET Retail


<p>Representative Image</p>
Representative Image

The government has asked Chinese mobile phone manufacturers to induct Indian equity partners in their local operations, said three executives who attended meetings at which the matter was conveyed.

The companies have also been asked to appoint Indian executives in key roles such as chief executive officer, chief operating officer, chief financial officer and chief technical officer, said the three people cited above.

The government has also directed them to appoint Indian contract manufacturers, increase local manufacturing down to the component level through joint ventures with Indian businesses, expand exports from the country and have local distributors, they said. Some of the companies have Chinese distributors.

The Chinese companies have also been instructed to ensure legal compliance and not to evade taxes in India, the executives said.

Top government officials communicated these issues to Chinese firms including Xiaomi, Oppo, Realme and Vivo as well as the India Cellular and Electronics Association (ICEA) at recent meetings held by the ministry of electronics and information technology (MeitY). ICEA is the manufacturers’ lobby group.

The ministry didn’t respond to queries.

Under Scanner for Tax Evasion
The MeitY meetings came as several Chinese smartphone manufacturers are under scrutiny for tax evasion and alleged illegal remittances worth thousands of crores, leading to local bank accounts being frozen. Offline retailers have also been lobbying with the government to create a level playing field by ensuring these companies do not resort to predatory online discounting. The government wants Indian equity partners not just in manufacturing operations, but also in sales and marketing units, the executives said. The Chinese smartphone companies currently have wholly owned operations in India.

Local Talent & Ecosystem
The government wants the companies to take advantage of the local talent and ecosystem and make India their export and production base, said Madhav Seth, Realme’s president, international business. “Such changes will enable higher value addition in the country and make businesses self-reliant.” He declined to share further details or confirm the meeting.

ICEA chairman Pankaj Mohindroo said the government wants accelerated development of Indian skills and companies, and rope in local companies wherever they can do the job satisfactorily.

“For instance, it wants Indian distribution in place of foreign distributors,” said Mohindroo. “The minister (of state for electronics and IT Rajeev Chandrasekhar) is personally leading these and players in the industry are taking affirmative steps.”

There should be no end-to-end Chinese control, said one of the executives cited.

“The Chinese companies should start sending India-made devices (for export), so that they become net foreign exchange positive.” He said the government also wants these companies to have a proper offline retail presence in place of their online-only strategy.

Oppo and Vivo didn’t respond to queries.

A Xiaomi India spokesperson said the company’s success has been built on investing in local talent, developing a strong core of Indian managers and leaders, partners and distributors who have together grown the business. He said all local senior roles are held by Indians and the company was one of the first adopters of the Make in India initiative, producing an entire line-up of smartphones and televisions, including some components.

Another industry executive said since electronics manufacturing has been a big job creator and can enhance the skillsets of a large number of people, the government has asked the Chinese firms to start employing Indians for replaceable skills.

  • Published On Jun 13, 2023 at 08:29 AM IST

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13 Jun
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Jeff Bezos Secretly Bought 1 Share of his Own Company Amazon What could be Motive


दुनिया के तीसरे सबसे रईस व्यक्ति Jeff Bezos ने हाल ही में एक हैरान करने वाली ट्रांजैक्शन की है। उन्होंने अपनी ई-कॉमर्स और टेक कंपनी Amazon का एक शेयर लगभग 115 डॉलर में खरीदा है। यह पिछले 20 वर्षों से अधिक में इस शेयर की उनकी पहली खरीदारी है। एमेजॉन के फाउंडर बेजोस इससे पहले कंपनी के शेयर्स की बिक्री करने की वजह से सुर्खियों में रहते थे। 

बेजोस ने पिछले 20 वर्षों में एमेजॉन के लगभग 30 अरब डॉलर के शेयर बेचे हैं। इससे उन्होंने अपनी रॉकेट कंपनी Blue Origin के लिए फंडिंग से लेकर लगभग 50 करोड़ डॉलर की लग्जरी याट खरीदने के लिए रकम जुटाई है। एमेजॉन की लिस्टिंग 1997 में हुई थी और इसके बाद से बेजोस को कंपनसेशन के तौर पर कोई शेयर्स नहीं मिले हैं। उनके पास कंपनी में लगभग 10 प्रतिशत की हिस्सेदारी है। Bloomberg Billionaires Index के अनुसार, बेजोस की लगभग 148 अरब डॉलर की वेल्थ में इस हिस्सेदारी का बड़ा योगदान है। उन्होंने 25 मई को कंपनी का एक शेयर खरीदा था। इसकी वैल्यू बढ़कर लगभग 124 डॉलर हो गई है। 

उनकी इस ट्रांजैक्शन से एमेजॉन को ट्रैक करने वाले एनालिस्ट्स हैरान हैं। एनालिस्ट्स यह समझने की कोशिश में हैं कि इसके पीछे उनका क्या इरादा हो सकता है। सोशल मीडिया पर इसे लेकर अटकलें लग रही हैं। सोशल मीडिया पर एक व्यक्ति ने कहा कि बेजोस की योजना शेयर के फिजिकल सर्टिफिकेट को गिफ्ट के तौर पर देने की हो सकती है। कुछ अन्य यूजर्स का कहना था कि उन्होंने अपने ब्रोकरेज एकाउंट पर गलती से खरीद का बटन दबाया होगा। इस बारे में एमेजॉन और बेजोस के एक प्रतिनिधि ने कुछ कहने से मना कर दिया। 

पिछले वर्ष बेजोस ने बताया था कि वह अरबों डॉलर की अपनी वेल्थ का एक बड़ा हिस्सा चैरिटी के लिए देने की योजना बना रहे हैं। उन्होंने कहा था कि उनकी डोनेशन में से क्लाइमेट चेंज से निपटने की कोशिशों पर बड़ा खर्च किया जाएगा। इसके अलावा वे ऐसे लोगों को भी मदद देंगे जो सामाजिक और राजनीतिक विभाजनों के बीच मानवता को एकजुट करने के लिए काम कर रहे हैं। समाचार पत्र वॉशिंगटन पोस्ट और एयरोस्पेस कंपनी Blue Origin का मालिकाना हक भी बेजोस के पास है। वह Bezos Earth Fund बनाने की घोषणा भी कर चुके हैं। इसके तहत प्रकृति के संरक्षण में मदद के लिए लगभग 10 अरब डॉलर की ग्रांट दी जाएगी।
 

लेटेस्ट टेक न्यूज़, स्मार्टफोन रिव्यू और लोकप्रिय मोबाइल पर मिलने वाले एक्सक्लूसिव ऑफर के लिए गैजेट्स 360 एंड्रॉयड ऐप डाउनलोड करें और हमें गूगल समाचार पर फॉलो करें।

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13 Jun
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Etsy partners with Shiprocket, announces domestic shipping labels for sellers in India, ET Retail


<p>Representative Image</p>
Representative Image

Etsy, the global marketplace for unique and creative goods, has partnered with Shiprocket, a leading ecommerce enablement platform, to launch its domestic shipping label service in India. This partnership provides the thousands of small and local sellers on Etsy in the country with a more convenient and seamless way to manage their shipping needs on the Etsy platform.

Since entering India in 2018, Etsy has been dedicated to empowering small businesses and strengthening communities across the country. By introducing domestic shipping labels with the help of Shiprocket, Etsy is further expanding its commitment to support and enable Indian sellers to reach a wider audience and grow their businesses.

With the launch of the domestic shipping label service in partnership with Shiprocket, Etsy sellers in India can now purchase shipping labels on Shiprocket through their Shop Manager/on the Etsy platform and have seamless access to carriers such as Delhivery, Blue Dart and many more at competitive prices.

All labels have tracking IDs, so buyers can follow their order’s journey; tracking is automatically added to the order with no additional action required by the seller, making the process effortless. The labels help ensure an order’s eligibility for Etsy’s Purchase Protection program, which safeguards sellers if their eligible orders get lost or are damaged in transit. *

Pankaj Jathar, Vice President and Country Head India, Etsy, said in a statement, “At Etsy, we are focused on empowering small businesses with the tools they need to reach our global audience of more than 100 million buyers. We are happy to introduce domestic shipping labels for sellers in India, streamlining the shipping process and helping in providing more protection for sellers in India. This will also enhance the shopping experience for buyers as we continue to grow the Etsy business in India.

Saahil Goel, Co-founder and CEO, Shiprocket said, “At Shiprocket, we are committed to create a tech-friendly and inclusive ecosystem for domestic sellers and help them grow. Our objective through this partnership is to offer an effortless shipping experience to the vast network of Etsy sellers in India. By streamlining and enhancing their shipping requirements, our aim is to empower them to expand their customer base and effectively achieve their business goals.”

  • Published On Jun 13, 2023 at 11:49 AM IST

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13 Jun
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Domestic clothing manufacturers may see 25% fall in orders for festive season, ET Retail


New Delhi: Domestic clothing manufacturers are expected to see a 25-30 per cent fall in order bookings for the upcoming festive season, said industry experts.

Talking to ETRetail, Rahul Mehta, Chief Mentor, Clothing Manufacturers Association of India (CMAI) said that the market is currently facing a slowdown and manufacturers are projected to see a 25-30 per cent reduction in orders this winter.

While North India is already reporting a lull in order booking for winter, the verdict for West and South India will be out from July onwards.

Several manufacturers present at the CMAI North India garment fair 2023 held earlier this month took note of the expected slowdown in demand.

Present at the fair, Nikhil from Gurukripa Garments, a Jaipur-based manufacturer, said two popular women’s apparel brands, that the manufacturer works with, have cut down their order size by one-third due to muted demand from customers. He refrained from sharing the apparel brand names.

Requesting anonymity, another manufacturer present at the CMAI garment fair said, “…domestic demand has not picked up post covid. There is a cash crunch in the market.”

Earlier this month, Abhishek Maloo, senior director at Flipkart Fashion told ETRetail in an interview that the growth rate for categories of apparel and footwear has been muted. He highlighted that as demand has been slow, end-of-season sales by retailers will be an important phenomenon across online and offline retail to revive industry demand.

Pointing out the industry trend, Mehta said that the slowdown in orders for the upcoming season is in line with the 20-30 per cent fall in sales reported by manufacturers during the current summer season.

Citing reasons for the slump in demand, he said that inflation coupled with input cost volatility across cotton, polyester yarn, and man-made fibers, resulting in higher-end prices for customers is contributing to a demand slowdown.

As per a CMAI report, released in April this year, the apparel market grew 15 per cent in 2023 as compared to 2022, however, the growth was completely price-led. The majority of clothing retailers have taken a price increase of about 15-20 per cent over the past two years. This has especially impacted the demand from small towns for unorganised players, the report said.

The overall Indian apparel market is pegged at Rs 5.3 lakh crore, excluding winterwear and women’s innerwear.

  • Published On Jun 12, 2023 at 09:59 PM IST

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