India has become top smartphone supplier to US
Speaking at the inauguration ceremony of Metro projects in Bengaluru, Vaishnaw emphasized that electronic production in India has grown six times over the last 11 years.
Vaishnaw said electronic exports have surged eightfold to Rs 3 lakh crore and reaffirmed India's position as the world's second-largest mobile phone manufacturer.
According to official data, India had only two mobile manufacturing units in 2014; today, there are over 300. Back in 2014-15, just 26% of mobile phones sold in India were made domestically, with the rest imported.
Now, 99.2% of phones sold in the country are manufactured locally.
Union minster Jitin Prasada told the Lok Sabha earlier that the production linked incentive (PLI) scheme, which was meant mainly for mobile phone manufacturing, attracted a total investment of Rs 12,390 crore.
'The PLI Scheme for LSEM has already attracted a cumulative investment of INR 12,390 crore, led to a cumulative production of Rs 8,44,752 crore with exports of Rs 4,65,809 crore and generated additional employment of 1,30,330 (direct jobs) till Jun'25," the minister said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
29 minutes ago
- Business Standard
FatakPay Launches 'Kadam Badhaye Ja' - A 10 Week Movement Towards Financial Freedom
VMPL Mumbai (Maharashtra) [India], August 14: This Independence Day, FatakPay is inviting India to take charge of its financial future with Kadam Badhaye Ja, a 10-week campaign starting from 15th August to 23rd October, inspiring people to take small, consistent steps towards long term security through Digital Gold and Digital Insurance. More than a rewards program, Kadam Badhaye Ja is a call to action. It is about breaking the myth that financial wellness requires big, risky moves and proving that even modest, regular investments can build a foundation of independence and protection. India's journey to economic empowerment is still underway. While millions have access to credit, fewer invest regularly for security. With this campaign, FatakPay aims to bridge that gap, making savings and protection accessible, rewarding, and part of everyday life. "Independence is not just political, it is financial. Kadam Badhaye Ja is our way of encouraging every kirana owner, every gig worker, every family to start building wealth and security, one step at a time," said Abhishek Gandhi, Co-Founder of FatakPay. Campaign Highlights 1. Independence Day Special - 15 August 2025 Only - First 1,000 disbursed loan users will receive INR 79 worth of Digital Gold. - Disbursement window: 00:00 to 23:00 hrs IST on 15 August. - Gold credited within 3 working days; users notified via app, SMS, or email. 2. Kadam Badhaye Ja Program - 15 August to 24 October 2025 - Open to all FatakPay users investing in Digital Gold. - To qualify: - Cumulative investment of at least INR 5,000 during the campaign. - Minimum 5 separate transactions over the 10 weeks. Rewards That Shine Top Investor (>= ₹50,000 invested): 100 gm Silver (1 winner) Rank 2-4 Investors (< ₹50,000): 50 gm Silver each Ranks 5 to 20: 10 gm Silver each Total Reward Pool: ₹50,000 in digital silver In case of ties, winners will be chosen randomly, and remaining participants placed in lower tiers. The campaign is not just about prizes. It is about creating a habit. By making regular investments in Digital Gold and Digital Insurance, users protect their future against uncertainty, while enjoying the transparency, accessibility, and trust that FatakPay is known for. "This is financial independence in action," added Gandhi. "We are not asking people to leap, we are asking them to keep moving forward, step by step, until holistic financial outlook becomes second nature." General Conditions - Rewards are nontransferable and non-exchangeable for cash. - FatakPay may modify or withdraw the campaign without notice. - All rewards processed within 5 working days of campaign end. - FatakPay's decisions are final and binding. For campaign related detailed Terms and Conditions, read here:
The Hindu
29 minutes ago
- The Hindu
Chief Minister inaugurates Namakkal District Central Cooperative Bank
Chief Minister M.K. Stalin inaugurated the Namakkal District Central Cooperative Bank through video conferencing on Thursday. The Chief Minister inaugurated the bank from Chennai, and at the function held in the bank in Namakkal, MPs Rajeshkumar and Madeswaran, MLAs Ramalingam and Ponnumsamy, District Collector Durgamoorthi, and officials participated. The bank will function with a staff strength of 159, including a managing director, a principal revenue officer, a general manager, two assistant general managers, 23 managers, 34 assistant managers, 93 assistants, and four office assistants. The Namakkal District Central Cooperative Bank has been bifurcated from the Salem District Central Cooperative Bank. The has 746 affiliated societies, including 165 Primary Agricultural Cooperative Credit Societies, four Hill Tribes Large Sized Multipurpose Cooperative Societies, 393 Milk Producers Cooperative Societies, 86 Weavers Cooperative Societies, 26 Employees Cooperative Credit Societies, three Agricultural Producers Cooperative Sales Societies, five Cooperative Urban Banks, seven Primary Cooperative Agricultural and Rural Development Banks and one Cooperative Sugar Mill. Namakkal District Central Cooperative Bank has started its operations with a share capital of Rs. 76.10 crore, deposits of Rs. 1,826.56 crore and outstanding loans of Rs. 1,636.07 crore. In the financial year 2024-2025, this bank has provided crop loans of Rs. 625.81 crore to 55,583 farmers, cattle maintenance loans of Rs. 117.86 crore to 14,346 farmers, medium-term loans of Rs. 13.78 crore to 1,324 farmers, and jewellery loans of Rs. 1,489.81 crore to 1,64,969 individuals. The bank also provided Rs. 162.65 crore as loans to 1,878 Women's Self-Help Groups and a Rs. 2.69 crore loan to 473 differently-abled persons. Under the special scheme of the Tamil Nadu Government, Rs.34 lakh was provided for the Kalaignar Kanavu Illam Scheme, and Rs.82 lakh under the TAMCO scheme. Namakkal District Central Cooperative Bank has installed ATMs to facilitate the customers withdrawing money. Similarly, through mobile ATMs and PoS machines, services are provided to the customers and all branches have safety lockers..
Economic Times
29 minutes ago
- Economic Times
If Mahatma Gandhi wasn't India's first choice for banknotes then how did he become Rupee's forever face?
Synopsis Initially rejected, Mahatma Gandhi's image wasn't always destined for Indian currency. Post-independence, the Lion Capital of Ashoka was favored, symbolizing the new republic. Gandhi's presence began with a 1969 commemorative note, becoming permanent in 1996. Despite debates and proposals for other figures, Gandhi remains a constant reminder of India's core values on every rupee. Mahatma Gandhi Walk into any shop in India, hand over a crumpled banknote, and you'll see a familiar face smiling back, bespectacled, serene, and instantly recognisable. Mahatma Gandhi doesn't just appear on our currency; he has become a quiet constant in our daily exchanges, silently passing through millions of hands each day. But the story of how he ended up there is far from straightforward. In fact, in the first flush of independence, Gandhi's portrait was rejected for Indian on 14 August 1947 brought independence, but not yet a new currency. For a brief period, the Reserve Bank of India (RBI) continued issuing colonial notes bearing King George VI. Behind closed doors, discussions began on what a truly Indian banknote should look like. The early idea was simple, replace the King's portrait with that of the Father of the Nation. Designs were prepared with Gandhi's image. Then came a surprising turn. As the RBI recounts, the 'final analysis' shifted towards a non-personal symbol, the Lion Capital of Ashoka at Sarnath. It was felt this emblem, drawn from India's ancient heritage, better captured the idea of a modern republic. So, in 1949, the new Re. 1 note appeared with the Lion Capital watermark, and Gandhi's portrait was the following decades, Indian notes became miniature showcases of the country's identity and ambitions. Tigers, deer, and peacocks symbolised natural heritage. The Konark Wheel, Brihadeeswara Temple, and Hirakud Dam spoke of cultural pride and industrial progress. The Aryabhatta satellite hinted at a future in science and space. Currency in the 1950s and 60s was not about a single leader, it was about the nation as a wasn't until Gandhi's birth centenary in 1969 that he made his first official appearance on a banknote. This commemorative design showed him seated, with Sevagram Ashram in the background, a gentle nod to his life of simplicity and service. The issue was special and short-lived, not yet a permanent feature of Indian currency. The real turning point came in 1987. The Rajiv Gandhi government reintroduced the Rs 500 denomination, and for the first time on a regular note, Gandhi's portrait appeared on its obverse. Still, he wasn't on every note. That came in 1996, when the RBI launched the Mahatma Gandhi Series, redesigned notes with improved security features and, for the first time, Gandhi's smiling face on all 2016, the 'New Series' kept Gandhi firmly in place while refreshing colours, sizes, and themes. From Rs 10 to Rs 2,000, he had become inseparable from the the years, there have been calls to share this space. Some have suggested Jawaharlal Nehru, Subhas Chandra Bose, Sardar Patel, or even religious figures like Goddess Lakshmi and Lord Ganesha. In 2016, the government clarified that a high-level committee had decided 'there is no need to change Mahatma Gandhi's photo on the currency notes.' Others have been honoured in different ways, Dr B. R. Ambedkar, for instance, was commemorated with special Rs 125 and Rs 10 coins. In 2022, a proposal from the Aam Aadmi Party to add Lakshmi and Ganesha sparked debate, with supporters citing prosperity and detractors warning against politicising or communalising currency design. For all the discussion, Gandhi remains unshaken on our notes. As Martin Luther King Jr. once said, 'Gandhi was inevitable… we may ignore him at our own risk.' On the rupee, his presence is more than decoration, it's a reminder of the values he championed: truth, non-violence, and unity in time we pass a note across a counter, we're not just exchanging money. We're handing over a piece of history, one that almost didn't have Gandhi's face, but now, perhaps fittingly, cannot be imagined without it.
