印度大事件240826（印度批准了一些电子制造业的中资投资提案；印度重工业部正在考虑放宽对部分中国公民的签证限制）

An inter-ministerial panel has cleared five-six investment proposals in the electronics manufacturing sector, which include some pure-play Chinese companies and others with connections to the neighbouring country, people familiar with the matter said.

The development is significant as these are among the first such approvals in recent times given border tensions and the scrutiny that investments from China have been attracting in India.

Prominent names that have recently got approval include Chinese electronics major Luxshare, which is also a vendor for Apple, and a joint venture (JV) between Bhagwati Products (Micromax) and Huaqin Technology, in which the Chinese company will own a minority stake. Other proposals cleared include some Taiwan-based firms listed in Hong Kong or having investments from there.

Ministry of Heavy Industries (MHI) was looking at easing visa norms for selective Chinese nationals on the request of Indian EV manufacturers

Amid India’s move to decrease its reliance on Chinese products and investment, top government officials have said that India will have to lean on China till it is capable enough to manufacture not only electronic components, but also those of other industries.

Even though the country’s reliance has diminished, the difference is marginal. For instance, the Ministry of Electronics and Information Technology (MeitY) scrutinised import data of personal computers, laptops and tablets, and found that shipments of seven IT hardware items have declined by 3.4 per cent in 2023-24, to $8.4 billion, compared to $8.7 billion the previous fiscal. But, China’s share remains high at about 60 per cent. Similarly, a lot of components like camera modules for smartphones are still imported from Chinese vendors.

In the electric vehicle (EV) industry, the Ministry of Heavy Industries (MHI) was looking at easing visa norms for select Chinese nationals on the request of Indian EV manufacturers, as the mother equipment for EVs is from China. These companies required ‘thousands’ of Chinese engineers to help them manufacture low cost and powerful batteries, especially for the electric two/three-wheelers.

Indian steel market is hit by "unfair imports and dumping" amid a demand slump in China and the government needs to take action in a time-bound manner, former steel secretary Nagendra Nath Sinha has said.

India overtook China as the world's biggest importer of Russian oil in July as Chinese refiners bought less because of lower profit margins from producing fuels, a comparison of import data showed.

Russian crude made up a record 44% of India's overall imports last month, rising to a record 2.07 million barrels per day (bpd), 4.2% higher than in June and 12% more than a year ago, data on Indian shipments from trade and industry sources showed.

NEW DELHI: India has registered record solar installations of about 15 GW during the first half of 2024 as "developers raced" to complete delayed projects, a report by Mercom Capital said. The country added 3.89 GW of solar capacity during January-June 2023, the US-based research firm said in its latest report.

BENGALURU, Aug 26 (Reuters) - Gold demand in India during the upcoming festive season is likely to remain robust, as the substantial reduction in import duty has made prices appealing, providing comfort to retail consumers and encouraging purchases, industry officials said.

Higher demand in the world's second-largest gold consumer could support a rally in global prices , which hit a record high last week. But higher demand for gold imports could increase India's trade deficit and weigh on the rupee .

India slashed import duties on gold in July to 6% from 15%, a step aimed at tackling smuggling.

MUMBAI, Aug 23 (Reuters) - India's markets regulator late on Thursday banned Anil Ambani, one of India's best-known businessmen, and 24 others from the securities market for five years on charges of diversion of funds.

MUMBAI, Aug 26 (Reuters) - An expected U.S. interest rate cut next month is unlikely to help the overvalued Indian rupee, even as its emerging market peers gain, bankers said.

The rupee was nearly flat on Monday after Federal Reserve Chair Jerome Powell on Friday endorsed an imminent start to rate cuts.

The move was in line with the rupee's recent underperformance as the currency has failed to gain from the dollar's broad slump.

BENGALURU, Aug 23 (Reuters) - India's silver imports are on course to nearly double this year due to rising demand from solar panel and electronics makers, and as investors bet the metal will give better returns than gold, leading importers said on Friday.

Higher imports by the world's biggest silver consumer could give further support to global prices , which are close to their highest level in more than a decade. India imported 3,625 metric tons of the white metal last year.