 "semiconductors, Chipmakers, chips")
India's talent pool, govt policies make it unique for semiconductor bets
India’s talent and the government policies to provide a favourable environment have made the country an attractive location for the semiconductor ecosystem, said Prabu Raja, president, Semiconductor Products Group (SPG), Applied Materials. The US-based company, which provides materials engineering solutions for chip manufacturing, last month announced plans to build a collaborative engineering centre in Bangalore, focused on developing and commercialising technologies for semiconductor-manufacturing equipment. Read more....
Price pressures deflate gas use equations, put $2 trn investments at risk
City gas consumption is expected to anchor Prime Minister Narendra Modi’s vision of more than doubling the share of natural gas in India’s energy mix by 2030. But the strands that bind consumption of the fuel to kitchens, vehicles and industries from Rameshwaram to Kashmir are so tenuous that the slightest jump in international gas prices, coupled with stagnation in domestic production, is sufficient to fray demand. City gas distribution (CGD) utilities were among the first to feel the impact of rising fuel prices on demand last year after customers deserted them for alternative fuels. CNG users in Delhi and Mumbai started switching to petrol, while industries, chemical plants and refineries switched to liquefied petroleum gas (LPG), which is mainly propane and butane in liquid form, and liquid fuels, which were cheaper compared to less-polluting natural gas and gas produced from processing crude oil. Read more...
Indian banks' loans rose 20.2% y-o-y in 2 weeks to July 14: RBI data
Indian banks' loans rose 20.2% in the two weeks to July 14 from a year earlier, while deposits rose 13.2%, the Reserve Bank of India's weekly statistical supplement showed on Friday. Outstanding loans rose 3.73 trillion rupees ($45.33 billion) to 147.64 trillion rupees in the two weeks to July 14. Non-food credit rose 3.76 trillion rupees to 147.40 trillion rupees, while food credit fell 36.03 billion rupees to 243.04 billion rupees. Read more...
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Tax fantasy, skill games separately: Gaming firms to finance ministry
More than 120 online gaming companies on Friday wrote to the Ministry of Finance and members of the GST Council, seeking a distinction in tax treatment between fantasy sports and skill game. This comes after the GST Council on July 11 decided to levy a uniform 28 per cent tax on the full face value for online gaming, casinos, and horse racing. The letter cited fundamental differences in business models and revenue generation methods between their online games and fantasy sports. The letter also pointed out that across major international gaming markets, fantasy sports with guaranteed prize pools are taxed differently from online skill-based games. Read more...
India-UK FTA: Next meet looks to build consensus on rules of origin, IPR
With the 12th round of negotiation a few days away, India and the United Kingdom (UK) hope to build consensus on three key issues –- rules of origin (ROO), intellectual property rights (IPR), and investment treaty -– in the proposed free trade agreement (FTA) between both nations. The negotiations are currently at a crucial stage, with the next round of negotiation expected in the second week of August. In the case of rules of origin chapter, the principles have been agreed upon. However, the modalities are still being worked out, a person aware of the matter said on Friday. Read more...
