Daily News - Wednesday, 25 September 2024
Must seek fresh approvals for laptop imports from Jan 1: Govt to importers (The Indian Express)
The Ministry of Commerce and Industry announced that companies can freely import laptops and personal computers until the end of 2024, but fresh approvals will be required starting January 1, 2025, with detailed guidelines to follow. This policy shift follows an earlier plan to impose a licensing regime aimed at reducing reliance on imports, particularly from China, which dominates 81% of the global PC and laptop market. While India looks to boost domestic production under the production-linked incentive (PLI) scheme, the government may delay restrictions further to support the industry’s growth, especially as U.S. companies like Apple, Dell, and HP may be affected.
Das: Strong fundamentals crucial amid global unrest (Business Standard)
RBI Governor Shaktikanta Das emphasized that strengthening core fundamentals—such as maintaining inflation targets, reserve buffers, and prudent financial policies—is the best defence against global uncertainties, especially amid tensions in West Asia. Speaking in Kathmandu, he highlighted the importance of India’s flexible inflation targeting (FIT) framework, which balances price stability with growth objectives, and noted that financial stability is crucial for sustained growth. Das credited the RBI’s proactive approach with successfully shielding India’s economy from recent global shocks, allowing it to emerge with stronger macroeconomic fundamentals.
More overseas investment, trade offices in the offing (Financial Express)
In response to growing global investment interest, India plans to establish 10 trade and investment promotion offices worldwide, with locations including Dubai, Zurich, New York, and Saudi Arabia, according to Commerce Minister Piyush Goyal. These offices, set up by Invest India in collaboration with NICDC and industry bodies, aim to boost India’s international investment footprint, with the first office inaugurated in Singapore. Highlighting the success of the "Make in India" initiative, Goyal noted that despite global challenges, India maintained manufacturing's share in GDP at 16%, and the economy has grown 90% over the past decade, driven by sectors like semiconductors, electronics, and renewable energy.
Resolve supply chain challenges, India tells IPEF (Financial Express)
Commerce Minister Piyush Goyal emphasized the need for the Indo-Pacific Economic Framework (IPEF) to address the global concentration of supply chains in critical sectors like minerals, agrochemicals, pharmaceuticals, and medical devices. Speaking at the IPEF ministerial meeting, Goyal highlighted that over-reliance on specific regions for essential resources, such as semiconductors and chemicals, poses risks of price volatility and supply disruptions. He stressed the importance of resilient supply chains, especially for sectors like healthcare and agriculture, as India signed IPEF’s Pillar III (clean economy) and Pillar IV (fair economy) to strengthen collaboration.
‘India-US climate mitigation to create green jobs’ (mint)
The collaborative efforts of India and the US on climate change mitigation and energy transition are expected to create 30 million green jobs in India by 2050, according to Jorgan Andrews, deputy chief of mission of the US embassy in New Delhi. Both nations have reaffirmed their commitment through the US-India Strategic Clean Energy Partnership (SCEP) to bolster energy security, foster clean energy innovation, and create sustainable employment opportunities. Andrews emphasized that addressing climate change is crucial for shared prosperity, and strong US-India ties have led to significant benefits for both countries, further solidified during recent talks between their leaders.
