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Altos India amps up ‘Make in India’ with high-end tech

Altos India’s strategic entry into high-end manufacturing marks a significant milestone, underscoring its commitment to promoting domestic production…reports Asian Lite News

In a fillip to the government’s local manufacturing push for IT hardware, technology company Altos India on Thursday said it has expanded its manufacturing portfolio to include high-end ‘Make in India’ workstations and servers.

The company has added two India-made servers, designed to meet the evolving needs of large-scale IT and cloud data centres in the country.

“In today’s rapidly evolving technological landscape, there is a growing demand for advanced solutions that cater to the needs of large IT and cloud data centres. These products not only meet these demands effectively but also align seamlessly with government initiatives, highlighting our dedication to local manufacturing,” said Sanjay Virnave, Country Head and General Manager at Altos Computing.

The Centre’s PLI 2.0 for IT hardware scheme, with its increased budgetary outlay of Rs 17,000 crore and expanded tenure to six years, is expected to generate an incremental production of Rs 3,35,000 crore.

The government has set a target of achieving $300 billion worth of electronics manufacturing by 2025-26, with $100 billion to come from exports.

Altos India’s strategic entry into high-end manufacturing marks a significant milestone, underscoring its commitment to promoting domestic production. Through the ‘Make in India’ initiative, Altos launched ‘Rack and Tower Servers’ that delivers server-class features with flexible expansion options and management capabilities.

“We have launched a ‘Dual socket 2U’ system ideal to handle any workloads. This system can function as a Database Server for Big Data analytics, a computing node for your high-performance computing (HPC) environment or for virtualisation purposes in cloud infrastructure,” said the company.

Meanwhile, the electronics industry in India saw a massive 154 per cent growth in hiring and skilling in the last financial year (from March 2023 till March this year) and the telecom domain led the industry, a report showed on Thursday.

The telecom vertical accounted for 64 per cent of hiring, closely followed by lighting and automotive sectors, according to research conducted by Quess Corp Ltd, a workforce management solutions provider.

The electronics industry also witnessed a significant deployment of women in various roles, particularly in manufacturing.

“Women are increasingly being deployed as operators, quality assurance professionals, and in testing roles,” the findings showed. Women constitute 78 per cent of the industry’s workforce.

In terms of geography, Tamil Nadu leads the states with a significant 33 per cent share of electronics hiring demand, followed by Karnataka, Uttar Pradesh and Telangana.

“The Indian electronics manufacturing sector is on a growth trajectory fuelled by innovation and transformation. Industry experts forecast the creation of 1 million jobs by 2025-2026, and the market size is expected to reach $400 billion by 2025,” said Lohit Bhatia, President of Workforce Management at Quess Corp.

This growth is not only fueled by increasing consumer demand but has also received a boost from government initiatives such as ‘Make in India’ and the production-linked incentive (PLI) scheme.

The surge in women’s employment within electronics manufacturing can be attributed to several factors.

The nature of the work, which often involves intricate assembly and precise handling of small parts, complements women’s skill in dexterity and attention to detail.

“Additionally, women demonstrate a strong ability to learn quickly and adapt, enabling them to thrive in fast-paced production settings,” the report noted.

Several key roles are in high demand, such as electronic engineers, instrumental engineers and electronic design engineers. The average salaries for these roles range from Rs 18,000 per month to Rs 32,000 per month.

The research also showed that flexible staffing has emerged as the preferred mode of employment in the electronics manufacturing services (EMS) industry.

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Economy India News Kerala

Global Spotlight on Kerala’s Vizhinjam Port

Located close to the key shipping routes which include those running through the Suez Canal and Malacca Strait, the port is expected to draw some of the world’s biggest vessels…writes Mahua Venkatesh

With the inauguration of the Vizhinjam International Seaport in Kerala, India’s maiden mega transshipment container terminal, as the heavy cargo carrier Zhen Hua 15 is unloaded, investments in the nation’s vital ports industry may witness a significant upsurge.

Not just that, with the operationalization of the state-of-the-art port, India’s voice in the Indian Ocean Region (IOR), which has emerged as one of the busiest trade routes of the world, will get amplified.

Located close to the key shipping routes which include those running through the Suez Canal and Malacca Strait, the port is expected to draw some of the world’s biggest vessels, at a time when the world’s focus on the IOR is rising.

The docking of large containers and cargo vessels on the Indian port would also boost investments into India, as it calls for “Make in India for the world.” Until now large ships could not dock in India.

Gulf based news organization the National noted that the opening of the Vizhinjam port will “put India on the map for the world’s biggest container ships.”

A public private partnership project, the port, owned by the Kerala government will be operated and maintained by Gautam Adani promoted Adani Ports and SEZ (APSEZ).

APSEZ’s chief executive Karan Adani said the company is looking to further invest Rs 20,000 crore in the Vizhinjam Transhipment Terminal by 2030. The investments will help in expansion of cargo capacity.

“Global scanner is on Adani, the operationalization of the port would be a booster for him and his company as in this case as the partnership is between the Left Democratic Front government in Kerala and the Adani group,” an industry watcher told India Narrative.

Hong Kong based South China Morning Post described the new terminal as “another feather in the cap of Gautam Adani’s conglomerate, which faced a scathing short-seller attack in January alleging corporate malfeasance – charges the Adani Group has denied.” “With a dominance that already spans ports, mines, airports and power utilities, Vizhinjam will further cement the billionaire’s status as India’s infrastructure king,” the newspaper said.

Vizhinjam port.

The opening of the port will push India’s efforts in catching up with China. Until recently, India’s poor port infrastructure development had impacted its overall economic development. According to a government press statement, the container throughput of Indian ports stood at 17 million TEUs (twenty-foot equivalent units) for the period 2020 whereas that for China stood at 245 million TEUs for the same period. The combined container throughput across top 20 major global ports stood at 357 million TEUs during the period 2020.

The Indian Ocean, connecting Asia, Africa and Australia, is now the focus of the world. Amid the changing geopolitical dynamics, it will be critical for India to strengthen its presence in the IOR.

Meanwhile, India is set to organize the third Global Maritime summit from tomorrow. The three day event, to be inaugurated by Prime Minister Narendra Modi, is expected to provide a fillip and showcase India’s efforts in strengthening its maritime economy and activities.

(India Narrative)

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-Top News World World News

Putin Praises Modi’s ‘Make in India’ Drive

Launched in 2014, ‘Make in India’ encourages domestic manufacturing and investment…reports Asian ‘Lite News

Russian President Vladimir Putin has once again lauded the ‘Make in India’ initiative and said that Prime Minister Narendra Modi is “doing the right thing” by promoting the policy.

In his address to the plenary session of the 8th Eastern Economic Forum (EEF) in Vladivostok on Tuesday, Putin gave India’s example while responding to a query about Russian-manufacture automobiles.

“You know, we did not have domestically made cars then, but we do now. It is true that they look more modest than Mercedes or Audi cars, which we bought in vast amounts in the 1990s, but this is not an issue.

“I think that we should emulate many of our partners, for example, India. They are focused on the manufacture and use of Indian-made vehicles.

“I think that Prime Minister Modi is doing the right thing in promoting the ‘Make in India’ programme. He is right,” the Russian leader said.

He went on to say that it is “absolutely fine” to use Russian-made automobiles.

“This will not lead to any infringements of our WTO obligations, absolutely not. It will concern state purchases. We must create a certain chain regarding what cars different classes of officials can drive, so that they will use domestically-made cars.

“You probably know about the proposals to continue buying these cars. It would be easy to do, because the logistics are streamlined,” Putin added.

In June while addressing an economic forum in Moscow, Putin had called Modi “a great friend of Russia” and praised the ‘Make in India’ initiative.

“Our friends in India and our big friend, Prime Minister Narendra Modi, launched the ‘Make in India’ initiative several years ago. It has had a truly impressive effect on the Indian economy. It would do no harm to emulate what is working well, even if it was not us but our friends who created it,” the President had said.

The ‘Make in India’ initiative was launched by Prime Minister Modi in 2014 aimed to to create and encourage companies to develop, manufacture and assemble products made in the country and incentivise dedicated investments into manufacturing.

Putin and Modi last met on the sidelines of a regional security bloc summit in Uzbekistan in September 2022.

The President did not attend the G20 Summit held in New Delhi on September 9-10. He was represented by Foreign Minister Sergei Lavrov.

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Business Tech Lite Technology

Apple accelerates ‘Make in India’ iPhone 15 export plans

New Apple products are displayed in San Francisco Bay Area, California, the United States, Sept. 7, 2022. (Xinhua/IANS)

A small set to ‘Make in India’ iPhone 15 units are likely to be exported to other countries within a short span of time from its global launch….reports Asian Lite News

In another push to its India manufacturing dream, Apple maker Foxconn is all geared up to start the local production of the next-generation of iPhone 15 at its Sriperumbudur facility near Tamil Nadu faster than ever, as the company doubles down on the ‘Make in India’ initiative.

Sources close to the development said that Apple aims to deliver locally-assembled iPhone 15 as soon as it is launched globally in the middle of next month, in order to narrow the launch-to-availability gap and increase its exports from India to other nations.

According to sources, a small set to ‘Make in India’ iPhone 15 units are likely to be exported to other countries within a short span of time from its global launch.

Other Apple suppliers in India like Pegatron and Wistron (being acquired by the Tata Group) will also assemble iPhone 15 as soon as possible, they added.

Bloomberg was first to report about the development.

Last year, Apple started assembling iPhone 14 at the Foxconn facility in India in September, a first in years when a new iPhone was assembled within weeks of its global launch in the country.

This time, the deadline has further been shifted to nearly a month early, so that the locally-assembled iPhone 15 can go on sale in the country at par with global right before the festive season, as well as can be exported fast.

Earlier this month, Apple CEO Tim Cook announced the company has set a June quarter records in India, driven by the robust sales of iPhones.

During the company’s fiscal 2023 third quarter results, Cook said that the performance of “our new stores in India this spring exceeded our expectations”.

On a specific question on the potential of India, Cook said: “You know we did hit a June quarter revenue record in India and we grew strong double digits. We also opened our first two retail stores during the quarter and of course it’s early going currently, but they are currently beating our expectations in terms of how they are doing”.

He further said that the company continues to work on building out the channel and putting more investment in its direct-to-consumer offers in the country.

“We still have a very, very modest and low share in this smartphone market, so I think it’s a huge opportunity for us. And we are putting in all of our energies to make that occur,” he added.

Apple, with the highest average selling price (ASP) of $929, registered a massive 61 per cent YoY growth in India in the April-June period, according to the IDC.

India is now among Apple’s top 5 markets globally as the iPhone maker continued to lead the ultra-premium segment (Rs 45,000 and above).

According to the India Cellular and Electronics Association (ICEA), Apple’s market share is set to exceed 50 per cent in FY24.

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Business

‘Make in India’ smartphone now faces weak demand

smartphone.

This is the first decline in any quarter this year…reports Asian Lite News

Economic headwinds, poor consumer demand, and market uncertainties led to a 8 per cent decline in ‘Make in India’ smartphone shipments (year-over-year) in the third quarter (Q3) this year to reach over 52 million units, a new report said on Tuesday.

This is the first decline in any quarter this year. OPPO led the ‘Make in India’ smartphone shipments with a 24 per cent share, followed by Samsung and Vivo.

Bharat FIH remained the top electronics manufacturing services (EMS) player in terms of smartphone shipments and among the Indian players, Dixon emerged as the top smartphone EMS provider, according to Counterpoint Research.

“Two major forces impacted the growth of smartphone shipments. First, the decline in consumer demand, especially in the entry-level segment, due to the negative macroeconomic indicators. Second, the high channel inventory at the start of the quarter also impacted the manufacturing during the quarter,” senior research analyst Prachir Singh said.

The country’s smartphone manufacturing ecosystem continues to grow with almost 63 per cent of such shipments coming from in-house manufacturers and 37 per cent from third-party EMS players.

BYD and Lava were the fastest-growing manufacturers in terms of smartphone shipments.

“We will continue to see PLI disbursements in subsequent quarters, which will add to the local manufacturing landscape. Overall, the manufacturing trend is witnessing an upward trajectory with multiple partnerships, like the ones between Tata Group and Wistron and between Foxconn and Vedantam,” Singh added.

On the government’s focus, research analyst Priya Joseph said that on the regulatory front, despite the adverse global climate, the Indian smartphone market has remained resilient.

“The government’s efforts to bring about a supply chain shift and make India a manufacturing hub with constant policy interventions in the form of PLI schemes has helped the country to attract major global players across the value chain,” said Joseph.

Further, the government is actively pursuing the target of expanding the local value addition from the present 17-18 per cent to 25 per cent in the near future.

The report said that going forward, the manufacturing volumes will grow with an increasing focus of the original equipment manufacturers (OEMs) to export to other countries.

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-Top News India News

PM unveils Make in India new list

Gandhinagar : Prime Minister Narendra Modi addressing the inauguration of DefExpo 22, in Gandhinagar on Wednesday, October 19, 2022.(Photo:IANS/PIB)

One of the key constituents of the Modi government’s ‘Aatmanirbhar Bharat Abhiyan’ is to transform the defence sector to achieve self-reliance and boost the export of defence items 

New India is moving ahead with the mantra of intent, innovation and implementation in the defence sector, Prime Minister Narendra Modi said while inaugurating the DefExpo22 in Gujarat’s Gandhinagar on Tuesday.

PM Modi unveiled HTT-40 – the indigenous trainer aircraft designed by Hindustan Aeronautics Limited (HAL) – at the India Pavilion and also announced the fourth positive indigenisation list of 101 items during the expo being held under the theme ‘Path to Pride’.

Besides, the Prime Minister launched ‘Mission DefSpace’ to develop innovative solutions for the defence forces in the space domain through industry and startups.

Prime Minister also laid the foundation stone of Deesa airfield in Gujarat. The forward airforce base will add on to the security architecture of the country.

One of the key constituents of the Modi government’s ‘Aatmanirbhar Bharat Abhiyan’ is to transform the defence sector to achieve self-reliance and boost the export of defence items with the active participation of the public and private sectors.

The Prime Minister, during his address to the nation from the ramparts of the Red Fort on the occasion of 76th Independence Day, had appreciated the efforts taken for indigenisation through the Positive Lists. These lists would boost indigenisation and achieve ‘Aatmanirbharta’ in the defence sector and increase exports in the coming times.

The Ministry of Defence (MoD) has taken numerous steps to achieve ‘Aatmanirbharta’ in defence and ‘Positive Indigenisation Lists’ is one of the landmark initiatives towards achieving that vision.

The MoD had earlier promulgated the first, second and third Positive Indigenisation Lists comprising 310 items on August 21, 2020, May 31, 2021, and April 7, 2022, respectively.

All the items included in the lists will be procured from indigenous sources as per provisions given in Defence Acquisition Procedure (DAP) 2020. This list provides continuous impetus towards self-reliance in defence.

The fourth list has been prepared by MoD after several rounds of consultations with all stakeholders, including the industry. It lays special focus on equipment/systems, which are being developed and likely to translate into firm orders in the next five to 10 years.

Like the first three lists, import substitution of ammunition which is a recurring requirement has been given special focus. This fourth list recognises the growing capacity and capabilities of the Indian defence industry and is likely to stimulate the potential of domestic research & development by attracting fresh investment into technology and manufacturing capabilities.

The items listed in the fourth list will provide ample visibility and opportunity to the domestic defence industry for understanding the trend and futuristic needs of the Armed Forces and create requisite R&D and manufacturing capacity within the country.

The MoD said that it will facilitate a conducive environment and render all possible support to the industry to ensure that the timelines mentioned in the ‘Fourth Positive Indigenisation List’ are met, thereby achieving self-reliance in defence and developing the capabilities for exports within the country in a time-bound manner.

Meanwhile, Defence Minister Rajnath Singh on Wednesday said that the DefExpo 2022 reflects India’s strong resolve to safeguard the nation and said that the country would become a defence manufacturing hub for the world in the next 25 years.

Addressing the inaugural event, the Defence Minister said that Path to Pride is not just a theme of this Expo, but a new objective of New India.

“In line with PM Modi’s vision to make India a strong, self-reliant nation, the theme of this Expo is ‘Path to Pride’. Path to Pride is not just a theme of this Expo, but a new objective of New India,” said Singh.

“Organizing this Def-Expo at the beginning of ‘Amritkal’, reflects our strong resolve to safeguard the nation and become a defence manufacturing hub for the world in the next 25 years,” he added.

Addressing the gathering, the Prime Minister welcomed the delegates to an event of the capable and Aatmnirbhar Bharat both as a Prime Minister and as a son of Gujarat.

Remarking on the organisation of the DefExpo2 2022, the Prime Minister said that it paints a picture of New India and its capabilities whose resolve is being forged at the time of Amrit Kaal. He further added that it is an amalgamation of the country’s development as well as states’ cooperation.

“It has the power and dreams of the youth, it has the resolve and capabilities of the youth. It has hopes for the world and opportunities for friendly nations.” the Prime Minister said.

Underlining the uniqueness of this edition of Defexpo, the Prime Minister said “this is the first defence expo where only Indian companies are participating and it features only Made in India equipment.”

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Business India News

Toyota, K’taka sign MoU to invest 4,800 cr towards ‘Make in India’

Vikram S. Kirloskar, Vice-Chairman, Toyota Kirloskar Motor, said, “Toyota is committed to enhance the pace of electrification strengthen domestic production with ‘Make in India’.”..reports Asian Lite News

The Toyota Group of Companies, comprising Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts, on Saturday announced a Memorandum of Understanding (MOU) signed with the Karnataka government to invest Rs 4,100 crore of a total Rs 4,800 crore towards ‘Make in India’ and to enable a faster reduction in carbon emissions.

The announcement coincides with Toyota Kirloskar Motor’s 25 years of journey in India.

The MoU was exchanged between Chief Minister Basavaraj Bommai and Vikram S. Kirloskar, Vice-Chairman, Toyota Kirloskar Motor.

Speaking on the occasion, Bommai said, “As a state committed to sustainable development and contributing to the nation’s progress, we want to make Karnataka a global supply-chain and manufacturing hub under our ‘Build for the World’ mission. This MoU with Toyota Group of Companies is a huge stride in this regard, and the Karnataka government is confident of Toyota’s commitment towards sustainable growth and local manufacturing quality for Karnataka’s development.”

The investments are aimed at promoting greener technologies that will help lower dependence on fossil fuels and mitigate carbon emissions. This investment will also enable local production facilities to build electric powertrain parts and components, and cater to the electrified vehicle manufacturing in India.

Vikram S. Kirloskar, Vice-Chairman, Toyota Kirloskar Motor, said, “Toyota is committed to enhance the pace of electrification strengthen domestic production with ‘Make in India’.”

In-addition to boosting the local manufacturing eco-system, the new development will provide an impetus to employment generation and local community development.

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-Top News India News USA

In US, Rajnath pitches for ‘Make in India’ 

India and the US are set to hold the 2+2 Ministerial Dialogue on Monday, with the Indian side being led by Defence Minister Rajnath Singh and External Affairs Minister (EAM) S Jaishankar…reports Asian Lite News

Defence Minister Rajnath Singh on Sunday met with US aerospace and defence majors Boeing and Raytheon and exhorted them to take advantage of the policy initiatives in India aimed at ‘Make in India’ and ‘Make for World’.

“Raksha Mantri Shri @rajnathsingh met with the U.S. aerospace & defence majors Boeing and Raytheon after reaching Washington DC. He exhorted the companies to take advantage of policy initiatives in India to steadily march from ‘Make in India’ towards ‘Make for the World’,” tweeted the Office of the Defence Minister.

The minister arrived in Washington DC on Sunday as part of his five-day US visit during which he will take part in the fourth India-US 2+2 Ministerial Dialogue. During his stay in the US till April 15, Singh will hold talks with the US leadership on ways to deepen the India-US strategic partnership.

The defence minister will also meet his US counterpart Lloyd J Austin III at the Pentagon on Monday.

India and the US are set to hold the 2+2 Ministerial Dialogue on Monday, with the Indian side being led by Defence Minister Rajnath Singh and External Affairs Minister (EAM) S Jaishankar.

 “The Dialogue would enable both sides to undertake a comprehensive review of cross-cutting issues in the India-US bilateral agenda related to foreign policy, defence and security with the objective of providing strategic guidance and a vision for further consolidating the relationship,” a Ministry of External Affairs (MEA) statement stated.

The MEA also stated that the 2+2 India-US Ministerial Dialogue will also provide an opportunity to exchange views about important regional and global developments and also on issues to address common interests and concerns.

The EAM during his stay in the US during April 11-12 will meet his counterpart, Secretary of State, Antony Blinken, besides senior members of the US administration to advance the India-US strategic global partnership, MEA spokesperson Arindam Bagchi informed during a media briefing.

Ahead of the 2+2 dialogue, Blinken had last week called Jaishankar to review regional and global priorities, including the situation in Ukraine. The last 2+2 Ministerial Dialogue between the two countries was held in October 2020 in New Delhi.

India and the United States held a bilateral 2+2 inter-sessional meeting in September last year in Washington and exchanged assessments on developments in South Asia, the Indo-Pacific region and the Western Indian Ocean.

Ahead of the 2+2 dialogue between India and the US, Prime Minister Narendra Modi is scheduled to hold a virtual meeting with US President Joe Biden on Monday.

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Business Tech Lite

India’s Phased Manufacturing Programme for wearables

India’s smart personal audio market grew 62 per cent in the third quarter (Q3) this year with 16.6 million units shipped, pushing its worldwide market share to 14 per cent, according to Canalys…reports Asian Lite News

After giving an impetus to mobile phones and laptop/tablet manufacturing locally, the government on Tuesday announced a new Phased Manufacturing Programme (PMP) for producing wrist wearable devices, hearable devices and electronic smart meters in the country.

Electronic manufacturing has been growing rapidly and Customs duty rates are being calibrated to provide a graded rate structure to facilitate domestic manufacturing of more and more consumer electronics devices, said Finance Minister Nirmala Sitharaman while presenting the Union Budget 2022-23 in the Parliament on Tuesday.

According to the India Cellular and Electronics Association (ICEA), the PMP has rationalised the inverted duty structure, which was throttling the development of manufacturing in the sector.

“The PMP in new areas should be immediately followed up with a robust PLI programme to make India a global powerhouse in this segment. However, we should constantly study the evolution of the PMP and manufacturing readiness of the inputs, and calibrate the duty structure accordingly,” said Pankaj Mohindroo, President, ICEA.

India’s smartwatch market registered its highest ever shipments in Q3 2021 to have a record growth (on-quarter) of 159 per cent, according to the latest research from Counterpoint’s IoT service. In annual terms, the growth was 293 per cent.

Led by Noise and BoAt, “domestic brands have grown rapidly and they captured around 75 per cent of the Indian smartwatch market in Q3 2021, compared to 38 per cent in Q3 2020. This is the highest contribution from the Indian players so far”, said Senior Research Analyst Anshika Jain.

India’s smart personal audio market grew 62 per cent in the third quarter (Q3) this year with 16.6 million units shipped, pushing its worldwide market share to 14 per cent, according to a Canalys.

The TWS (true wireless stereo) segment was the main driver in India, growing 92 per cent to reach 7.3 million units.

Nitin Kunkolienker, President of Manufacturers’ Association for Information Technology (MAIT), said that the PMP for hearables and wearables is a continuation of India’s ‘Electronics Aatmanirbhar’ strategy, “building domestic capability to address a $80 billion global market by 2025”.

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Business Economy India News

Budget would give fillip to Make in India: Rajnath Singh

Defence Minister also welcomed the funds allocated for Research and Development in several sectors including Defence…reports Asian Lite News

Union Defence Minister Rajnath Singh on Tuesday said that the Union Budget would give fillip to ‘Make in India’, boost demand and build capacities for a stronger, prosperous and confident India.

Congratulating Finance Minister Nirmla Sitharaman in a series of tweets, Singh said, “Congratulations to Finance Minister, Smt @nsitharaman on presenting an excellent Union Budget for 2022-23. It is a Budget which would give fillip to ‘Make in India’, boost demand and build capacities for a stronger, prosperous and confident India.”

“The Budget outlines the Government’s focus on Atamnirbharata and Prime Minister Narendra Modi’s vision for development and pro people reforms. It is a growth oriented Budget focused on harnessing the energies of New India,” he said.

The Defence Minister also welcomed the funds allocated for Research and Development in several sectors including Defence. “Substantial amounts have been allocated towards Research and Development in several sectors including Defence. The proposal to reserve 25 per cent of the R&D Budget for Startups and Private entities is an excellent move,” he said.

He mentioned that the bulk of the money will be going into the development of social and physical infrastructure in the country. “This year’s Budget has increased the total outlay for effective capital expenditure by a massive 35.4 per cent to more than Rs 10.6 lakh crore with the bulk of the money going into the development of social and physical infrastructure in the country,” he said.

Singh said that the 68 per cent of defence capital procurement budget has been allocated towards local procurement and it is in line with the ‘Vocal for Local’ push and it will certainly boost the domestic defence industries.

“Digitalisation of land reforms will transform India’s rural economy and it will go a long way in creating new opportunities for the farmers and the agriculture sector. I wholeheartedly welcome this year’s Budget announcements,” the Defence Minister added.

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