Thursday, August 27
New Delhi: The central government projects that the Modified Electronics Manufacturing Clusters (EMC 2.0) scheme will generate approximately 1.80 lakh jobs. Official data shows that approved projects now span 10 states across the country. These locations expect a total investment of over Rs 1.46 lakh crore to build a strong electronics production system in India.According to a press release from the Ministry of Electronics & IT, the government notified the EMC 2.0 scheme in April 2020. This initiative supports the creation of world-class infrastructure by funding specific clusters with shared facilities. These areas provide manufacturers with industrial plots and ready-built factory sheds. These "plug and play" facilities allow companies to start their work quickly without building eve
The government’s move to table the Insurance Act Amendment Bill — aptly titled Sabka Bima Sabki Raksha — has set the stage for a structural overhaul of India’s insurance landscape. The bill proposes amendments to the Insurance Act, LIC Act and the IRDAI Act, a development that industry watchers see as a major milestone, particularly for the Life Insurance Corporation of India (LIC).Reacting to the bill’s introduction in Parliament, LIC, CEO & MD, R Doraiswamy described it as a landmark reform aligned with the broader vision of a “Viksit Bharat”. “It has been a great landmark bill that Government of India has introduced today for amending the insurance act LIC Act and IRDAI Act. It is a great step forward towards making India a Viksit Bharat towards which the insurance i
The global push towards artificial intelligence is entering a more challenging phase, as investors begin to look beyond headline spending numbers and focus on how these massive investments will be financed and supported on the ground. With AI spending estimates ranging between $300 billion and $500 billion over the next few years, market participants are increasingly questioning whether such outlays can deliver meaningful returns.On ET Now, concerns were raised about the funding shift behind this investment wave. What was earlier expected to be financed largely through internal cash flows is now increasingly being supported by debt, prompting unease among investors about balance-sheet stress and future returns.Addressing these worries, Jim Walker, Aletheia Capital said the concern is justi
Silver on Wednesday touched a historical high of Rs 2 lakh per kg at the retail end, a jump of Rs 9,000 per kg from yesterday. The surge comes as weaker US labour data reignited expectations of Federal Reserve interest rate cuts, weakening the dollar and boosting demand for precious metals. A consumer now has to shell out Rs 2,06,000 per kg with a Goods & Services Tax (GST) of 3 per cent. Internationally, spot silver surged 2.8 per cent to a record $65.53 an ounce, marking the first time the white metal crossed the $65 level. The spot gold too edged 0.4 per cent higher to $4,321 per ounce, aided by continued weakness in the US dollar.The rally gained momentum after the US data showed the unemployment rate rising to 4.6 per cent in November, strengthening expectations of further monetar
