It's official now. US is readying global sanctions for China. The US Government issued a new business advisory, warning US Companies about running supply chains through firms that engage in human-rights abuses, including forced labour in China.
bloomberg.com/news/articles/…
80 Million people had already lost their jobs in China by May. 100 M people are out of job right now in China.
US is readying global sanctions.
Australia is boycotting China.
The EU is sidelining the PRC.
Xi & his CCP have bad days coming.
#ChinaVsWorld
amp.cnn.com/cnn/2020/05/08…
China's days as world's factory are over : Foxconn Chief.
Foxconn will have a large manufacturing ecosystem in India too (there is already a plant in Chennai) as it decides to shift manufacturing base out of China.
Foxconn is the largest employer in China.
business-standard.com/article/intern…
PM Modi's Production Linked Incentives (PLI) Scheme giving desired results for Atma Nirbhar Bharat.
Samsung submits estimates of making smartphones worth $40 Billion+ to the Govt of India. Most of the phones manufactured in this category will be exported.
theweek.in/news/biz-tech/…
The UP Govt has come up with a new electronics manufacturing policy to attract Cos looking to shift their manufacturing base from China to India.
Investments worth Billions expected.
World's largest mobile factory of Samsung is already operational in Noida.financialexpress.com/industry/elect…
India imports chemicals worth ₹1.5 Lakh Crores out of which 85-90% comes from China.
To cut dependence on China, GOI has identified 75 critical chemicals(mostly APIs) to be manufactured in India. Local Industry to be given incentives worth ₹25,000 Crore.
timesofindia.indiatimes.com/india/25k-cr-p…
After chemicals, APIs & smart phones, GOI is coming up with PLIs worth ₹3 Lakh Cr for textiles, solar panels, auto parts, laptops, ACs, LEDs & high grade steel.
Decoupling from China is a reality.
India will have a robust manufacturing apparatus in 5 yrs.
auto.economictimes.indiatimes.com/news/auto-comp…
CRGO steel core is used in transformers to reduce eddy current losses.
India imports CRGO worth Billions of USD annually. Other high grades of steel are imported too.
GOI is introducing PLIs worth ₹3346 Cr to boost production of high grade steel in India.
financialexpress.com/industry/steel…
India's steel imports have come down from 11.71 million tonne (MT) in 2015-16 to 6.77 MT in 2019-20.
In last 5 years, India has built capacity to produce 95% of steel it consumes.
India will be a major exporter of high grade steel for electrical & automotive sector in next 5 yrs.
The GOI yesterday approved applications of 10 mobile phone makers & 6 electronic components makers for rewards worth ₹40000 Cr under PLl scheme.
The 16 manufacturers are expected to generate production worth ₹10.5 Lakh Cr over 5 yrs — 60% to be exported.
m.economictimes.com/industry/cons-…
Production of ₹ 9 Lakh Cr is expected from handset makers. iPhone makers Foxconn, Wistron & Pegatron will invest Billions of USD as they move out of China. So will Samsung.
Remaining production will be from approved components makers — AT&S, Ascent Circuits, Visicon & Walsin.
UP Govt Allots 700 Plots To MSMEs, Apparel, Toy Manufacturers near Jewar Airport.
₹ 30,000 Cr Investment Expected.
7 lakh Jobs to be created, 25K jobs in toys mfg !
Special focus on Toys manufacturing as toys worth Billions of USD are imported from China.
economictimes.indiatimes.com/news/economy/p…
The Modi Govt is investing 4500 Cr for the National Supercomputing Mission.
The C-DAC under Ministry of E & IT is going to install a vast supercomputing grid with India's leading academic & R&D institutions, having 70 high-performance computing facilities.
financialexpress.com/industry/techn…
In yet another big move to decouple from China, the GOI prohibits imports of ACs — both split & window.
The bulk of AC imports comes from China.
The ban will push AC manufacturing in India in a big way and will save Billions in import bills in coming yrs.
economictimes.indiatimes.com/news/economy/f…
India’s trade deficit with China drops by almost half to USD 12.6 Bn between April - Aug of 2020-21 from USD 22.6 Bn in same period last year.
Massive Impact of restrictions on Chinese imports and GOI's Atma Nirbhar Bharat Push.
Local Production ramped up.
business-standard.com/article/econom…
Despite Covid lockdown, Uttar Pradesh has received investments of ₹6,700 Crore in 6 months.
These investments where work for setting up units has begun will employ 1.35 lakh people.
More Investments of ₹85K Crores in pipeline as Yogi Govt transforms UP.
timesofindia.indiatimes.com/city/lucknow/u…
German footwear giant begins production in UP after leaving China.
2 units of Von Welix operational in Agra, direct employment already provided to 2,000+ people.
More units to come up, employ >10,000.
Production Target — 5 Million pairs annually. hindustantimes.com/business-news/…
Japan is providing aid to 2 Jap Cos moving manufacturing from China to India as part of India Japan Australia efforts to develop Supply Chain Resilience Initiative.
Toyota-Tsusho will be setting up a rare earth metal facility & Sumida of automotive parts.
timesofindia.indiatimes.com/business/india…
Work and track laying going on in the Final Tunnel on Imphal-Jiribam railway line.
The 111 km Imphal-Tupul-Jiribam Rail line has 45 tunnels, measuring 62 km & 139 bridges !
The Project Cost is ₹12500 Crs.
It'll take Railways to Manipur.
There was no Railway in Manipur till now.
Infopower — a Sahasra Group JV with Taiwanese MiTac Holdings, is setting up plants in UP & Rajasthan to make ICs & hard drives under PLI Scheme.
Noida Plant to produce 25,000 Motherboards per month.
Bhiwadi Plant to make 40 Mn Integrated Circuits annually.
telecom.economictimes.indiatimes.com/news/sahasra-t…
The UP Govt will launch a special campaign aimed at providing jobs to 50 lakh youth by March 2021.
The campaign – Mission Rojgar– will be launched by CM Yogi after Diwali.
5 Million Jobs in 4 months — never done in India till now.
Skeptic yet hopeful !
indianexpress.com/article/india/…
Unemployed youth will apply in Govt Depts, Councils, Corporations & pvt sector.
Investments worth Billions of USD have been finalized in UP (Go through this thread).
Besides, Yogi Govt has facilitated loans worth ₹18,000 Cr to 6 lac new MSMEs (Avg ₹3Lac per MSME) since April 1.
Work Intensified For Kashi Vishwanath Dham Project.
Main Complex, Atithi Griha (Guest House), Yatri Suvidha Kendra 1&2, Mumuksh Bhavan etc will be ready by Feb 2021.
Project Cost — 339 Crores.
PM @narendramodi envisaged it.
BEFORE AFTER
Other buildings — Vedic Kendra, City Gallery, Multi Purpose Hall, Jalpan Kendra(Food Court), Handicraft Emporium & Security Chamber buildings will be ready by May 21.
Project will be ready by Aug 21.
65,000 Cubic Feet of Pink Stones Have Been Brought to Varanasi for the Project.
India asserts sovereignty in Indian Ocean Region.
The Modi Govt will launch an ambitious ₹4,000 Cr Deep Ocean Mission in 3-4 months to explore minerals, energy and marine diversity of unexplored underwater world in India's vast EEZ and Continental Shelf.
deccanherald.com/national/india…
The Modi Govt is bringing in investments worth ₹2 Lac Cr to set up 5,000 CBG Plants by 2023-24 with 15 Mn Tonnes Biogas production target.
It will reduce Gas Import Bill by ₹1 Lac Cr, generate huge employment, raise farmers' income & help in waste mgmt.
energy.economictimes.indiatimes.com/news/oil-and-g…
Samsung is investing ₹5,000 crore in a smartphone display manufacturing facility in Noida.
The export-oriented unit will be ready by Feb 2021 and attain commercial production by April 2021.
India will be the third country manufacturing Samsung displays.
business-standard.com/article/compan…
iPhone maker Wistron is investing ₹2,847 Cr at its facility in Narasapura, 70 km from Bengaluru.
Besides ₹1,947 Cr for iPhones, Wistron is investing ₹900 Cr for IoT & Biotech Devices manufacturing.
18,000 direct jobs & 100K+ indirect jobs to be created.
m.economictimes.com/industry/cons-…
356 KM long under construction Jammu—Baramulla Railway line.
Katra—Qazigund stretch of 103 Km will have 62 bridges & 35 tunnels, including Chenab Bridge — world's highest railway bridge at 359 m from ground, 35 m higher than Effiel Tower!
Completion — Dec 2021
Cost — ₹27,759 Cr.
Indian Railways to get leaner, speedier, more efficient and save > ₹8,000 Cr annually.
600 trains with low patronage are proposed to be knocked off the system, while 400 will be merged/upgraded.
Besides this, around 10,000 halts are being done away with.
indianexpress.com/article/india/…
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