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India going big on smartphone manufacturing

Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman

Indian smartphone export is likely to have crossed USD 10 billion (over Rs 82,000 crore) in the just-ended financial year 2023, according to the new industry data.  Apple’s ‘Make in India’ smartphones now constitute 50 per cent of total exports, followed by Samsung with 40 per cent of mobile exports and other smartphone players constituting the remaining 10 per cent of the export share.

India is going strong in its electronics manufacturing sector and making a mark globally. Smartphone manufacturing is something the government is very keenly focussing on. The Telecom industry is on the government’s priority list.

Indian smartphone export is likely to have crossed USD 10 billion (over Rs 82,000 crore) in the just-ended financial year 2023, according to the new industry data.  The data has been released by the India Cellular and Electronics Association (ICEA) showed that Apple’s ‘Make in India’ smartphones now constitute 50 per cent of total exports, followed by Samsung with 40 per cent of mobile exports and other smartphone players constituting the remaining 10 per cent export share.

India is now being preferred by Global manufacturing giants. Recently, Samsung opened the world’s largest phone manufacturing unit in India. Other major global giants like Apple have moved significant units in the country too. Global enterprises like Oppo, Vivo, Xiaomi, and Lava have also set up their bases and expanded operationally in India.

“The mobile phone industry will cross $40 billion manufacturing output and 25 per cent exports at $10 billion is a stellar performance,” stated Pankaj Mohindroo, Chairman of ICEA.

Smartphone exports from India have doubled from a corresponding period from last fiscal year, driven by production-linked incentive (PLI) schemes.

The top five global destinations India currently exports mobile phones to are the UAE, the US, the Netherlands, the UK and Italy, according to the ICEA data. India has more than 260 units manufacturing mobile phones and accessories now, with only two units operational in 2014. Thus, India has come a long way in the mobile manufacturing sector. This is one industry where the ‘Make in India’ drive has worked on the ground, reported NewsonAir.

The country has witnessed a splendid growth rate in mobile phone manufacturing, charting a global success story. In Budget 2023, it was revealed that mobile phone production in the country increased from 5.8 crore units valued at about Rs 18,900 crore in 2014-15 to 31 crore units valued at over Rs 2,75,000 crore in the last financial year. With this, the custom duty of 2.5 per cent on the import of certain parts and inputs like camera lens were waived off in this Budget. The relief has been extended to further reduce input costs, deepen value addition, promote export competitiveness and boost domestic manufacturing.

India’s mobile exports were close to ‘zero’ in 2015 and reached a mark of Rs 27,000 crore in 2019-20. The real game-changer has been the PLI Scheme.

According to IT Ministry, mobile phone manufacturing saw a 66 per cent rise to Rs 45,000 crore within the first year of the roll-out of the scheme in April 2020.

“Due to the Production Linked Incentive (PLI) Scheme, India is currently one of the fastest-growing mobile phone manufacturers in the world and has emerged as the second-largest manufacturer of mobile handsets in the world in volume terms,” India’s IT Minister Rajeev Chandrasekhar had said earlier.

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Flower Power For The Win: The Interflora Story

Exclusive feature by columnist Riccha Grrover for Asian Lite International

The world of Interflora with an unfeigned passion for flowers and a rich, 99-year-long legacy in luxury flower gifting, they are the World’s largest and most experienced award-winning floral gifting and decor brand.

With time, Interflora has revolutionized the floral landscape of luxury gifting, weddings and events through signature flower bouquets, unmatched quality, and sheer exquisiteness in show-stopping floral collections. With a network of over 58,000 florists across the globe, and a presence in 150+ countries, they have managed to build a clientele that trusts them when it comes to creating unforgettable floral experiences.

Of Legacy & Lasting Impressions

Originating in America in 1923, with its headquarters in the UK, the brand started off by taking flower delivery orders via telegram. Apart from being ahead of their times; they adhere to international global standards and keep up with fashion seasons to create an exquisite appeal.

For about a hundred years now, Interflora has been delighted to successfully navigate the intersection between fashion and florals, to combine top-end design and flower quality and leave a lasting impression on its recipients.

It’s only been 5 years since they have entered the Indian terrain(2017), and yet, they have gained prominence like no other!

Interflora brings together handcrafted experiences and state of the art technology. With a keen focus on design and quality, Interflora India in particular, has built an in-house team of over 180 internationally-trained designers across 100 dark stores, and a network of over 200 farmers along with a robust logistics team that ensures fresh, handcrafted flowers are delivered right on time across 25+ cities in the country.

Every day, thousands of people count on them to convey their heartfelt messages along with their flowers that are curated to perfection by their in-house team of internationally trained designers. They report a returning customer rate of 25% and 350 average orders daily.

With collaborations with the likes of celebrated floral designers like Preston Bailey, Jeff Letham, Tomas De Bruyne, Karen Tran, Neil Wittekar and more with us, they live up to the promise of turning their patron’s floral dreams and vision into reality!

Iconic Milestones

Known globally as ‘The Flower Experts’, Interflora has designed and executed iconic floral décor for some of the biggest weddings and high-end luxury events in India. These have included decor for the likes of Isha Ambani and Anand Piramal, Alia Bhatt and Ranbir Kapoor, Kiara Advani and Sidharth Malhotra, Karan Johar and more. Interflora works closely with clients to create a vision that will leave a lasting impression in their memory as well as their guests.

While their hand-delivered artisan arrangements and handcrafted floral decor continues to be their pride, they are delighted to venture into enabling clientele with more. At Interflora, they believe flowers are a lifestyle – whether it’s because of their vivid colors or their charming fragrance, there’s too much beauty and goodness in their petals to limit their use. Thus, as an extension of their brand, Interflora now houses a beautiful range of floral perfumes, teas, diffusers, candles and chocolates too. In this way, they hope that their valued patrons can enjoy life’s beauty with a touch of floral luxury!

Meet Anuja Joshi, Founder at Interflora, India

Anuja Joshi, an educationist turned entrepreneur has always been a go-getter! From setting up and running an IB school in Pune, Maharashtra, to heading a large, successful gifting solutions company, she has successfully worn many hats.

As Anuja traveled across the globe for work, she came across Interflora, a luxurious floral gifting brand, which sowed the seed of a new business venture. Identifying a huge gap in the floral gifting and luxury décor landscape in India,

Spearheading the India chapter for the legacy brand since then, she has been at the forefront of changing the way India experiences premium floral gifting & has conceptualized and produced floral décor for some of the largest weddings and social events for the Jindals, Gucci, Dior, Sonam Babbani, House Of Misu, Anamika Khanna, Ali Fazal & Richa Chadha and many more; filling the gap in the market for luxury floral solutions.

Being a visionary, Anuja has ensured that the company is powered by a seamless backend set up that ensures international standards of design, quality, right on time deliveries, while minimizing wastage, which makes them a unique category player unlike any other.

Under her able leadership, the business has grown by volumes, and Anuja has truly revolutionized the way patrons look at making memorable, tasteful statements.

As a responsible, conscious business owner, she is also focused on growing the sustainable practices at Interflora India across waste management & reduction, repurposing of flowers and reducing dependency on imports via educating local growers as well as setting up cold chain solutions.

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Business India News

India’s PC, tablet market grows 5%

HP led the Indian PC (excluding tablets) market, with more than 30 per cent market share in both Q4 and full-year 2022….reports Asian Lite News

Despite a steep fall in the fourth quarter of 2022, last year was a successful one for the Indian PC market (desktops, notebooks and tablets), with shipments up 5 per cent to reach 19.6 million units, a new report has said.

While notebook shipments fell by 7 per cent to 11 million units, desktop and tablet shipments increased significantly by 37 per cent and 21 per cent to 3.2 million and 5.4 million units respectively, in 2022, reports market research firm Canalys.

HP led the Indian PC (excluding tablets) market, with more than 30 per cent market share in both Q4 and full-year 2022.

Lenovo took the second place but suffered a large shipment decline of 31 per cent in Q4 of 2022.

However, the total 2022 shipments for Lenovo were up by 3 per cent on 2021, with its commercial business gaining traction.

Dell and Acer took third and fourth place respectively, while Apple secured the final spot in the top five in Q4 2022, overtaking Asus.

Apple surpassed Samsung in Q4 2022 to take the lead in the Indian tablet market, said the report.

“Indian consumers spent on devices in the first half of 2022, but demand quickly tailed off, leading to a weak holiday season for vendors and retailers,” said analyst Ashweej Aithal.

Looking ahead, Canalys anticipates that PC and tablet shipments in India will fall by 6 per cent in 2023, to 18 million units.

This represents a smaller drop than for the global market, which is expected to contract by 9 per cent.

While weakness in the global economy this year will affect India, GDP growth forecasts for the country remain relatively positive compared to other major markets.

“Education will be an important segment for PCs and tablets in India this year and beyond,” said Aithal.

ALSO READ: Digital lending platform LoanTap buys Unofin

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Business Economy

Traders’ body calls for e-commerce regulator

China's e-commerce and courier service prove to be important in epidemic prevention

The CAIT has strongly pitched for six basic fundamentals needed for e-commerce policy and the rules under the Consumer Protection Act…reports Asian Lite News

The Confederation of All India Traders (CAIT) has demanded an empowered Regulatory Authority to monitor and regulate the e-commerce trade in the country.

The CAIT has strongly pitched for six basic fundamentals needed for e-commerce policy and the rules under the Consumer Protection Act.

In a communication sent to Union Commerce & Consumer Affairs Minister Piyush Goyal, the CAIT said six fundamentals are necessary for a robust growth of e-commerce which include transparent operations of e-commerce platforms; easy accessibility and adequate grievance redressal by e-commerce entities; non- discriminatory access of marketplace platforms to all stakeholders of the value-chain; avoidance of conflict of interest between marketplace platforms; sellers and various service providers on the platform and formation of an empowered Regulatory Authority to monitor and regulate the e-commerce trade in India.

CAIT President B.C. Bhartia and Secretary General Praveen Khandelwal said that mandatory registration of e-commerce entities conducting business through any e-mode will lay the substantial foundation of a well defined eco-system and the extent of e-commerce landscape can easily be gauged with the registration process and shall protect consumers from rogue/fraudulent e-commerce companies. Transparency should be the hallmark of any business activity and every e-commerce marketplace must therefore act in a transparent manner with respect to all stakeholders, namely — the customer, sellers, logistics partners and payment gateways.

They said that it must be ensured that consumers can reach out to senior grievance redressal officers of the marketplace entities to resolve their concerns and therefore provision of Grievance Officer, Nodal Officer & Compliance Officer is laudable.

The CAIT further opined that it is extremely important for an e-commerce marketplace platform to act as a neutral platform for third party sellers where every such seller has a non-discriminatory access in the context of Logistics service provider, payment gateway system and each seller must have a non-discriminatory access to every customer and every customer must have such access to every seller on the platform.

The traders’ body suggested that to avoid any conflict of interest, the e-commerce marketplace or its related entities should not act as a seller on such marketplace platforms.

“At present many E-commerce Marketplace entities are creating economic disruption by surreptitiously carrying on inventory e-commerce activities on their marketplace platform. The E-commerce Marketplace entities themselves become sellers on the platform by misusing loopholes and are virtually carrying out Multi Brand Retail Trade (MBRT) and also they are even selling goods below the cost to capture market share thereby creating enormous financial strain on small retailers who have no option but to shut shop,” it said.

The trade leaders said that the e-commerce policy and the rules will put an end to the subsidies being extended to controlled sellers by offering huge discounts to them in a differentiated manner. Similarly, the use of affiliated payment service providers to lure consumers and influence them to buy from these controlled trading companies, by giving discounts on payment service charges, would come to an end.

ALSO READ: Realme bumps up India hiring

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Business India News

HP Inc to scale up manufacturing footprint in India

HP Inc is already manufacturing multiple PC products, including laptops in India, as part of the government’s ‘Make in India’ initiative….writes Nishant Arora

As supply chain disruptions continue to haunt tech companies globally, PC and printer major, HP Inc is bullish on manufacturing its next-gen range of products locally in India, to address the domestic market in a much better and efficient way, the company’s CEO Enrique Lores has emphasised.

Lores said that India is a key market for HP where growth continues to happen and the company continues to see more opportunities going forward.

“We will increase our manufacturing footprint in India to cater well to the domestic demand. Eventually, we see India manufacturing to help us better serve the rest of the world,” Lores said during the company’s flagship ‘HP Amplify Partner Conference 2023’ here.

HP Inc is already manufacturing multiple PC products, including laptops in India, as part of the government’s ‘Make in India’ initiative.

The company manufactures multiple models of laptops, desktop towers, mini desktops at the Flex facility in Sriperumbudur near Chennai, Tamil Nadu.

HP is also manufacturing display monitors in the country.

The company led the Indian PC (excluding tablets) market with more than 30 per cent market share in both Q4 and full-year 2022, according to latest data from global market research firm Canalys.

The company is currently manufacturing a wide range of laptops in India, with products such as HP EliteBooks, HP ProBooks and HP G8 series notebooks.

It has also expanded its locally-manufactured commercial desktops by adding various models of desktop mini towers (MT), mini desktops (DM), small form factor (SFF) desktops and a range of All-in-One PCs.

These products have both Intel and AMD processor options and cater to a wide range of customer segments.

HP partnered with supply chain and manufacturing solutions provider Flex to manufacture commercial desktops in the country from August 2020.

According to Lores, India offers a massive opportunity for the company.

“We will continue to invest in India which has always been one of the primary markets for us globally,” the HP CEO told IANS.

The PC and printer major is expanding its portfolio in manufacturing across multiple products within India in order to make sure that it plays a meaningful role in building the country as a global manufacturing hub.

The company has been working with the central and state governments in the mission to empower the lives of millions of citizens and enhance the community’s quality of life.

According to Lores, as large enterprises and small and medium businesses (SMBs) in India and elsewhere hit the refresh button in the post-pandemic times, digital transformation has entered top gear.

The adoption to digital technologies is something not limited to large corporations only as more and more SMBs are on the path to realise their digital dreams and embrace state-of-the-art, secure workplaces, he had told IANS in an earlier interaction.

(Nishant Arora can be reached at nishant.a@ians.in)

ALSO READ: Realme bumps up India hiring

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Business India News Technology

Realme bumps up India hiring

Realme bumps up India hiring, Madhav to still look after India strategy

The company is also firming up its Indian management…reports Asian Lite News

As realme’s Madhav Sheth accepts the new role of VP for Business and Corporate Strategy (Global), he would still look after the India market which is strategically important for the global technology brand, the company said on Tuesday.

realme told IANS that Madhav’s international background and global vision will definitely provide forward-looking strategic guidance for realme’s development in the global market.

“The Indian market is strategically important for realme and Madhav will still look after India. Madhav will live in India and travel abroad according to the work arrangements,” said a company spokesperson

The company is also firming up its Indian management.

Nisar Naikoo and Dipesh Punamiya have been assigned the responsibility of independently managing the India Business.

While Naikoo has been promoted to Offline sales director realme for the smartphone business, Punamiya has been appointed as the Sales Director of IOT business.

They will oversee the day-to-day operations of the business in India, making decisions regarding sales, marketing, and customer relations.

“Overall, the collaborative approach will ensure that the India Business is managed effectively and efficiently and that the company’s goals are achieved through a coordinated effort between the India team and the global team,” realme told IANS.

As always, we will create more local employment positions and bring good products to users, it added.

In a tweet last week, Sheth had said: “Exciting news! I’m thrilled to announce that I’ve accepted a new role as VP for Business and Corporate Strategy (Global). Excited to take this opportunity and contribute to the company’s success.”

Sheth has been at the forefront of creating consumer products with trendsetting technologies, features and designs in India.

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Business Economy

Digital lending platform LoanTap buys Unofin

Unofin has serviced over 12,000 customers with Rs 120 crore of gross loan disbursals so far….reports Asian Lite News

Digital lending platform LoanTap on Wednesday said it has acquired Unofin, a healthcare-focused fintech startup, for an undisclosed sum.

With this acquisition, LoanTap aims to leverage Unofin’s expertise in healthcare financing to expand its reach in the rapidly-growing healthcare sector in the country.

Unofin has serviced over 12,000 customers with Rs 120 crore of gross loan disbursals so far.

It has partnership with 1,600 healthcare service providers in seven cities, making it a key player in the healthcare financing industry.

“This acquisition is a strategic move for us to expand our product offerings and tap into the immense potential of the healthcare sector. We believe that healthcare financing is a niche segment with tremendous growth potential,” said Satyam Kumar, CEO and co-founder of LoanTap.

The acquisition will also enable LoanTap to leverage Unofin’s strong relationships with leading hospitals, clinics, and medical equipment suppliers to offer customised financing solutions to these entities.

“With LoanTap’s digital capabilities, we will be able to reach a much larger customer base and provide them with seamless access to credit,” said Tushar Aggarwal, Co-founder, and CEO of Unofin.

India’s healthcare market is estimated to be worth $130-140 billion, with more than $64 billion in the in-patient market.

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Business World News

‘Recession is underway’

If layoffs accelerate in the next few months, a recession “will be underway”, the report said…reports Asian Lite News

A recession in 2023 appears inevitable and layoffs in tech and finance will spread to other sectors, especially amid the great banking breakdown, media reports said.

A commentary in Fortune said that the world is witnessing the beginning of increasing unemployment in the financial sector and high-tech, which “benefitted from the US Federal Reserve’s easy money policies since the Great Recession of 2008”.

In an effort to cool off the economy and get inflation to its target rate, the Federal Reserve began to increase the Fed funds rate rapidly throughout 2022. Rates increased from virtually zero in March of that year to a target range of 4.75-5.00 for March 2023.

“Nevertheless, the latest CPI data reveal prices rose 6 per cent in February 2023 compared with the same month the previous year – well above the new Fed funds target rate of 5 per cent,” wrote Murray Sabrin.

The collapse of Silicon Valley Bank and Signature Bank “complicates” the Fed’s task of “managing” the macroeconomy by moving the Fed funds rate up and down to dampen inflation (and inflation expectations) and boost economic activity.

“Additionally, the Fed is responsible for ensuring financial stability when banks fail and preventing more bank runs throughout the country,” the commentary read.

One of the best indicators of an impending recession is the inverted yield curve, particularly the difference between the 10-year Treasury note and the three-month T-bill.

“The curve inverted at the end of October 2022. Historically, when short-term rates rise above the long-term rate, a recession begins about a year later,” the commentary said.

If layoffs accelerate in the next few months, a recession “will be underway”.

More than 500 tech companies have laid off over 1.5 lakh employees in the first three months of 2023.

As layoffs continue to deepen amid recession fears, more than 23,000 employees have been laid off by at least 82 startups in India, and the list is only growing.

In total, more than 3.1 lakh tech employees have lost jobs in 2022 and till March this year.

ALSO READ: Giants succumb to layoff trend

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Business China Economy

Alibaba unveils split-up plans

Hangzhou, Dec. 24 (Xinhua) -- File photo shows the logo of Alibaba Group in Hangzhou, Zhejiang Province. (Xinhua/Ju Huanzong/IANS)

The report also mentioned that the company sees the creation of the six businesses as a way to be more agile….reports Asian Lite News

Chinese tech giant Alibaba on Tuesday said that it is planning to split the company into six business units, and each unit will explore fundraising or IPOs (initial public offerings), media reports said.

The six units will include the Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart Logistics Group, Global Digital Commerce Group, and Digital Media and Entertainment Group, reports CNBC.

Each business unit will be led by its own CEO and board of directors.

During the past couple of years, Alibaba has faced slowing economic growth at home and tougher regulation from Beijing, which caused its share price to fall by billions.

“The move is designed to unlock shareholder value and foster market competitiveness,” Alibaba was quoted as saying.

Moreover, the report stated that Alibaba’s shares popped more than 9 per cent in pre-market trade in the US after it announced to split the company into six business units.

“Each of these units can pursue independent fundraising and a public listing when they’re ready,” Alibaba CEO Daniel Zhang, was quoted as saying.

The report also mentioned that the company sees the creation of the six businesses as a way to be more agile.

“This transformation will empower all our businesses to become more agile, enhance decision-making, and enable faster responses to market changes,” Zhang said.

Meanwhile, Alibaba founder Jack Ma, who has rarely been seen in public in the past three years, has resurfaced at a school in China’s Hangzhou, media reports said.

The 58-year-old has kept a low profile since criticising China’s financial regulators in 2020.

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Business Goa India News

Goa CM urges embassies to import ‘Feni’

Climate change takes toll on Goa's feni; production drops, price rise expected

Cashew feni is the country’s first indigenous liquor to obtain the Geographical Indication tag…reports Asian Lite News

Goa Chief Minister Pramod Sawant on Wednesday told the state assembly that he has written to the embassies of some foreign countries with a request to popularise and import ‘Feni’ to their countries.

Feni, a drink commonly and socially consumed by the local residents of the coastal state, was notified as the state heritage drink by the Goa government in 2016.

Cashew feni is also the country’s first indigenous liquor to obtain the Geographical Indication tag, a process which was initiated by local manufacturers of the brew in 2009.

“In order to promote the Heritage Drink ‘Feni’, I have written to the embassies of some foreign countries with a request to popularise and import feni in their countries,” Sawant said, while presenting the Budget.

Sawant said that he has also requested other states to recognise ‘Goan Feni’ as ‘Country Liquor’ in their State Excise Policies, so that the levy of excise duty in their states is at par with country liquor and not IMFL.

During the Assembly’s Monsoon Session, Goa BJP legislator Deviya Rane demanded that the government allow the export of Goan cashew feni, a step which can boost cashew cultivation and bring cashew apples into use.

Rane, an MLA from Poriem constituency in North Goa, has said that it has demand from foreign countries.

“If we get permission to sell it in other states and internationally as well as it has wide scope and demand, it will help to increase the production and thus, new distilleries will come. This will ultimately help the cashew farmers,” she said.

“I went abroad recently and when people there came to know I am from Goa, they said you are so lucky, you have beaches and you have Feni… but they also lamented that they do not get it in their country. They also asked me ‘why your country doesn’t export it’,” she said.

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