Backing India’s bid to become a semiconductor production base, the chairman of Taiwanese manufacturing giant Foxconn said that his country sees India as a “trusted and reliable partner”. He believes that joint work between the two nations will bolster India’s interests. Speaking at the Semicon India summit, Foxconn chairman Young Liu referenced a conversation with Prime Minister Narendra Modi. Modi had mentioned that IT stands for India and Taiwan, emphasizing Taiwan’s role as a trusted partner. Liu highlighted the challenges involved in mastering the complex manufacturing technology of chip production but expressed optimism about the determination of the Indian government. This statement is particularly significant given the global push towards a China+1 strategy and Taiwan’s issues with China.

Foxconn recently ended its partnership with Anil Agarwal’s Vedanta group for setting up a semiconductor factory in India. However, Foxconn remains committed to investing in India’s nascent semiconductor industry. Liu spoke about the Taiwanese “buffalo spirit” that has contributed to the country’s global leadership in semiconductors. He believes that the same spirit can be applied to India’s chip manufacturing efforts. Liu emphasized that the reliability of a nation is crucial when undertaking the massive task of chip production, and trust is essential as India’s semiconductor work is just beginning.

Other companies also support India’s chip-making bid. Micron Technologies has made investment commitments, and globally renowned chip ventures like Applied Materials have expressed their willingness to explore India’s semiconductor bid. Sanjay Mehrotra, president and CEO of Micron Technologies, stated that their project in Gujarat has the potential to create thousands of jobs and hopes that it will spur further investment in the sector. The global semiconductor industry association SEMI expressed confidence in India’s potential, stating that geopolitics, domestic policies, and private sector capacity are aligned in India’s favor, allowing it to become a key player in semiconductor production. Ajit Manocha, president and CEO of SEMI, believes that India will be the next powerhouse in semiconductors in Asia. Anirudh Devgan, president and CEO of Cadence Design Systems, looks forward to indigenous product startups in India driving the demand and consumption of semiconductors, playing a vital role in the global market’s digital transformation.

Farmers are bracing themselves for challenges as heavy showers (orange and yellow alerts) are predicted until July 27. It may be noted that sowing has already been delayed which is likely to impact kharif production in Maharashtra.

The India Meteorological Department has issued advisories to several regions urging farmers to take precautionary measures to protect their crops. In order to mitigate the risk of water stagnation and subsequent crop damage, the department has provided specific recommendations for farmers in different regions. Farmers in Konkan, Gujarat, and ghat regions of Madhya Maharashtra have been told to postpone transplanting of rice and finger millet to avoid potential damage to the crops. Loss to horticulture and standing crops in some areas due to inundation has also been forecast.

Kailas Dakhore, agro-meteorologist at Vasantrao Naik Marathwada Agricultural University, who assists the state agriculture department issue advisories to farmers, told TOI, “Soybean, cotton and pigeon pea are not water-loving crops; farmers have been advised to establish a proper drainage system in the fields. Excess moisture can be detrimental to these crops.”

He said regions such as Madhya Maharashtra, Marathwada, and Vidarbha can experience adverse effects on crop health, leading to yellowing and losses due to excessive water in fields. “The accumulation of water in the fields takes days to naturally drain out, emphasizing the necessity of implementing a drainage mechanism.” Kharif crops in parts of Maharashtra are currently in vegetative state, he added.

Akola-based farmer Gajanand Wahokar told TOI, “Earlier, the lack of rains was affecting crops. Now, the recent heavy rain spells are showing an adverse effect. The recent spells washed away my soyabean and pigeon pea crops. Several fields are still waterlogged and no sowing can be done. Moreover, I cannot sow soyabean crop anymore as the sowing period is over. I will have to keep the field barren and undertake chickpea sowing in August.”

As per the India Meteorological Department, the upcoming rain spell in the region is expected to bring several impacts, with localized flooding of roads, waterlogging in low-lying areas, and the closure of underpasses being major concerns, particularly in urban areas. The heavy rainfall may occasionally reduce visibility, further complicating travel conditions. Major cities are likely to experience disruptions in traffic flow due to waterlogged roads, leading to increased travel time for commuters. Additionally, unpaved roads may suffer minor damages and there is a possibility of vulnerable structures being harmed.

“Hilly areas could be at risk of localized landslides and mudslides, posing a threat to the safety of those residing in the regions. The agricultural sector may also face adverse effects, with damage expected to horticulture and standing crops due to inundation in certain areas. Moreover, there is a potential risk of riverine flooding in some river catchment areas, necessitating vigilance and preparedness measures to mitigate the potential impact of the upcoming rain spell,” the India Meteorological Department said.

India will not impose a countervailing duty (CVD) on select steel products imported from China, despite a recommendation from trade officials and lobbying from local steel manufacturers, according to a government source interviewed by Reuters.

The Ministry of Finance, in a rare move, will reject the recommendation by the Directorate General of Trade Remedies (DGTR) to impose an 18.95% CVD on certain flat-rolled steel products imported from China for a period of five years, stated the finance ministry official directly involved in the matter.

The decision by the finance ministry aims to protect steel-consuming firms from higher prices, even though it may have adverse effects on local steel manufacturers, the source added.

The official, who wished to remain anonymous due to the decision not being made public yet, explained, “Imposing CVD protects manufacturers, but users end up paying a higher cost. So you have to balance the interest between users and manufacturers.”

CVDs are additional taxes levied on imported goods or products that are subsidized in their home country, thereby harming the industries in the importing country.

According to World Trade Organisation rules, member countries are allowed to impose anti-subsidy duties if a product receives subsidies from their trading partner’s government.

India had removed CVDs on such Chinese products in February of last year. However, as per the DGTR report, over 170 Indian steel companies, including Jindal Stainless Ltd and Steel Authority of India, have supported a petition to re-impose CVD for another five years.

In April, the DGTR, which investigates unfair trade practices on behalf of India’s trade ministry, recommended imposing CVD on certain stainless steel flat products.

The finance ministry’s decision to reject the recommendation comes despite steel purchases from China reaching a six-year high during the April-May period, with imports rising by 62%.

The official explained that imposing CVD would negatively impact small and medium-sized companies that consume steel while benefiting a few large conglomerates, especially during a time when India’s economic recovery is rapid but uneven.

This decision is expected to further assist Chinese shipments at a time when Asia’s largest economy is poised to export the most steel since 2016. China is already benefiting from a weakening yuan, competitive pricing, and weak domestic demand.

At the time of reporting, India’s finance and trade ministries had not responded to emails sent after working hours.

India’s industrial production increased to 5.2 percent in May from 4.5 percent in April 2023, primarily driven by strong performance in the manufacturing and mining sectors, according to official data released on Wednesday.

The growth rate of factory output, measured by the Index of Industrial Production (IIP), was 19.7 percent in May 2022, mainly due to a lower base effect.

An official statement explained that the growth rates should be interpreted in light of the unusual circumstances caused by the Covid-19 pandemic since March 2020.

According to the National Statistical Office (NSO), the manufacturing sector’s output grew by 5.7 percent in May 2023, compared to a 20.7 percent expansion a year ago.

Power generation increased by 0.9 percent in May 2023, compared to a growth of 23.5 percent a year ago. Mining output rose by 6.4 percent during the month, compared to an 11.2 percent expansion in the year-ago period.

In terms of use-based classification, the capital goods segment grew by 8.2 percent in May this year, compared to 53.3 percent a year ago. Consumer durables output rose by 1.1 percent, while consumer non-durable goods output increased by 7.6 percent compared to the previous year.

Infrastructure/construction goods posted a growth of 14 percent, while primary goods logged a 3.5 percent increase in the month.

During the April-May period of fiscal 2023-24, the growth in IIP stood at 4.8 percent, down from 12.9 percent in the corresponding period a year ago.

Suzuki Motorcycle India today launched the five millionth unit of the Access 125 from its Kherki Dhaula plant in Gurugram, Haryana. The Suzuki Access 125 was the first scooter in the 125 cc segment at the time of its launch in 2007 and achieved this milestone in 16 years.

The Suzuki Access 125 is powered by a 124 cc single-cylinder, fuel-injected engine, which generates a peak power of 8.7 horsepower and a maximum torque of 10 Newton meters. It is offered in three variants – Standard, Special Edition, and Ride Connect Edition, with prices ranging from Rs 79,400 to Rs 89,500 (both prices, ex-showroom, Delhi).

The Suzuki Access 125 features all-LED lighting and comes with a range of features including a Bluetooth-enabled digital console, side stand interlock, USB charging, engine start/stop switch, and more. It has a storage capacity of 21.8 liters and competes against Honda Activa 125, Yamaha Fascino 125, and TVS Jupiter 125 in the Indian market.

Kenichi Umeda, Managing Director of Suzuki Motorcycle India said, “This is a significant milestone for all of us at Suzuki Motorcycle India. It demonstrates our dedication and the confidence our customers have in our Access 125 in both domestic and international markets. Today’s Access 125 is equipped with convenient features developed specifically for Indian customers.”

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On the eve of National Fish Farmer’s Day, which will be celebrated across the country on Monday, July 10, the Gujarat government claimed on Sunday that Gujarat leads the country in marine fish production. The state has produced an average of 8.50 lakh metric tonnes of fish annually over the past four years.

To commemorate the event, several programs will be organized on July 10 and 11 in Veraval, Porbandar, Jafrabad, Mangrol, and Okha, according to an official statement released on Sunday.

According to data provided by the government, Gujarat leads India in marine fish production and ranks fifth in total fish production nationwide. Over the last four years, Gujarat has maintained an average fish production of about 8.5 lakh tonnes per year, the statement added.

The statement also noted that the provisional marine fish production for 2022-23 is expected to be 6,97,151 metric tonnes, while inland fish production is anticipated to be 2,07,078 metric tonnes. Consequently, the total fish production of Gujarat in 2022-23 is projected to be around 9,04,229 metric tonnes.

Additionally, the statement revealed that the country’s total fish exports amount to 13,69,264 metric tonnes, with Gujarat’s share in the export quantity standing at 16.9%, or 2,32,619 metric tonnes.

The government further claimed that the average annual income of a fishing family in Gujarat has significantly increased over the past five years. In 2018, the annual income was Rs 6.56 lakh, which rose to Rs 10.89 lakh in 2022. The income figures for the intervening years were Rs 6.80 lakh in 2019, Rs 7.39 lakh in 2020, and Rs 8.51 lakh in 2021, as stated in the official release.

India’s coal production witnessed significant growth during financial year 2022 and financial year 2023, resulting in improved availability and supply of the dry fuel, according to a statement by Icra. The ratings agency reported that the production of Coal India increased by 12.1 percent in financial year 2023, marking the fastest growth rate achieved by the state-owned miner in recent decades. In addition to boosting output and supply, the government implemented various reforms to enhance transparency, facilitate ease of doing business, and make the domestic coal and mining sectors more attractive for investment. Jayanta Roy, Senior Vice President & Group Head – Corporate Ratings at Icra, emphasized the government’s initiatives since January 2015, highlighting the impact of policy interventions in captive and commercial coal mining which have improved transparency and ease of doing business in the coal sector.

“The production of domestic coal witnessed substantial growth in financial years 2021-22 and 2022-23, growing by 8.7 percent and 14.8 percent respectively to keep up with the sharp increase in domestic coal demand. The growth rates of coal production in these financial years corresponded to demand increases of 13.4 percent and 8.5 percent respectively,” Roy stated.

Roy attributed this growth to a significant rise in captive and merchant coal mining, leveraging initiatives undertaken by the coal ministry. He further explained that “the transition to the auction regime in January 2015, and the opening up of commercial coal mining in June 2020, have contributed to the production of coal from captive and merchant miners.”

In 2020, Prime Minister Narendra Modi launched auctions for commercial coal mining to enhance coal availability in the country. According to data from the coal ministry, 86 coal mines have been auctioned for commercial coal mining, which have the potential to generate an annual revenue of Rs 34,188 crore for various states in the country. The production from captive and commercial coal mines has steadily increased over the years, recording a remarkable growth rate of 216 percent in the past six years.

The production from captive and merchant miners grew by an impressive 43.2 percent in financial year 2023, surpassing the 100 million tonnes annual production milestone for the first time. It increased from 86 million tonnes in financial year 2022 to 123 million tonnes in financial year 2023.

To strengthen India’s self-reliance in coking coal, the coal minister launched the Mission Coking Coal in August 2021, aiming to more than double the country’s coking coal production to 140 million tonnes by financial year 2029-30. An expert stated that this initiative has the potential to reduce the steel sector’s dependence on coking coal imports from the current level of 85-90 percent to 75 percent.

Official data reveals that India’s coal production has witnessed significant growth of 22.5 percent over the past four years, with production reaching 893 million tonnes compared to 729 million tonnes in financial year 2018-19. Additionally, the supply or offtake of coal has also shown improvement during this period, reaching 878 million tonnes in financial year 2023 compared to 733 million tonnes earlier.

Coal minister Pralhad Joshi recently assured at an event that the country will not face any shortage of coal this year.

In the April-June quarter of financial year 2024, domestic coal production increased by 8.18 percent, reaching a record figure of 222.6 million tonnes, and domestic coal offtake grew by 6.8 percent to reach a peak of 240.1 million tonnes.

Amazon India has recently introduced a new service that allows users to personalize their purchases on the e-commerce platform. This feature, called “Customize Your Product,” is now available for use on Amazon.

The “Customize Your Product” service is free of cost, meaning users will only have to pay the price of the product itself to get it personalized. This service is available for a wide range of over 10,000 products across 76 different categories.

Customers can personalize various items, such as window blinds, blankets, home decor, wall art, furniture, engraved pens, necklaces, water bottles, mugs, apparel, jewelry organizers, golf clubs, phone covers, notebooks, and more, according to their creative preferences.

Amazon provides users with a design tool to customize the products visually. They can also view a real-time preview of the final customized product using an interactive product purview option.

Users have the option to choose from a variety of font styles and colors for engraving text. Additionally, they can upload images and notes to get them printed on the product.

To make it easier for users to find customizable products, Amazon has added a “Personalize it” badge in search results and a “Customize Now” button on product pages. A dedicated page has also been created for all available customizable products.

To customize a product on Amazon, users can search for a product with a “Personalize it” badge and click on the “Customize Now” button. Alternatively, they can visit the dedicated page at “https://www.amazon.in/l/32615889031” to explore all the products that can be customized.