logo
One more electronics cluster for Tamil Nadu approved: Ashwini Vaishnaw

One more electronics cluster for Tamil Nadu approved: Ashwini Vaishnaw

Time of Indiaa day ago

Chennai: The Centre has recently issued its approval to establish one more electronics cluster in Tamil Nadu taking the overall electronics cluster planned in the state to three, Union Minister
Ashwini Vaishnaw
said on Tuesday.
The Union government has been giving major thrust in areas like mobile phone manufacturing, laptop and server manufacturing in Tamil Nadu, Vaishnaw, the Information and Broadcasting, Electronics and Information Technology and Railways Minister, said.
"I am very happy to share with you that many of these new projects in mobile phone, laptop and server manufacturing are now getting set up in Tamil Nadu and our Prime Minister's vision of making Tamil Nadu as one of the major manufacturing hubs for electronics is now getting realised," he said through a video conference facility at an event held at the IIT Madras.
"One more electronics manufacturing cluster has been approved (by the Centre) recently and I hope to see its construction very soon. That is the way, we are hoping that Tamil Nadu will get the most modern amenities," he said.
In March 2025, Vaishnaw at the inauguration of Zetwerk Electronics' seventh manufacturing facility in Sriperumbudur near Chennai, said his Ministry has approved setting up of two electronics manufacturing clusters worth Rs 1,112 crore in Tamil Nadu.
The proposed facilities would produce electronic components for various sectors including consumer durables and IT hardware and would serve for both domestic and international markets in the future, he had said then.
However, the Minister in his brief address did not declare the investment details of how much would be required to establish the third electronics cluster in the State.
On the railways front, Vaishnaw said that Tamil Nadu is set to become a wheel manufacturing hub for trains in the country while the State has already became an hub for manufacturing Vande Bharat range of trains.
"As you know, in the locomotives and in high speed trains, very high strength wheels are required. They are all now getting manufactured at a factory near Chennai. Again Railways has fully supported that factory so that way Tamil Nadu will become the hub for wheel manufacturing also," he said.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Paytm, Mobikwik shares slip; US onsite visas stall
Paytm, Mobikwik shares slip; US onsite visas stall

Time of India

time20 minutes ago

  • Time of India

Paytm, Mobikwik shares slip; US onsite visas stall

Paytm, Mobikwik shares slip; US onsite visas stall Also in the letter: Paytm, Mobikwik shares drop after government denies MDR on UPI Driving the news: Paytm shares fell as much as 10% intraday, briefly erasing Rs 6,123 crore in market cap, before recovering slightly to close 6.56% down at Rs 897.20. Mobikwik shares dropped 3% to Rs 273.05 during trade, before closing 2.68% lower at Rs 273.95, reducing its market value to Rs 2,128 crore. Backdrop: Earlier media reports suggested the government may introduce MDR charges on UPI transactions above Rs 3,000. During recent earnings calls, Paytm executives had voiced cautious optimism about MDR returning, which could benefit payment companies grappling with rising infrastructure costs. But the Finance Ministry dismissed these reports, calling them 'completely false, baseless, and misleading.' By the numbers: UPI processed 18.68 billion transactions worth Rs 25.14 lakh crore in May, up 33% year-on-year. Average daily transaction value stood at Rs 81,106 crore, with 602 million daily transactions. For FY24, UPI accounted for 80% of India's retail digital payments. Also Read: Why it matters: Also Read: US onsite visas stall for Indian techies amid slowdown, immigration pressure What's the story: Firms such as TCS, Infosys and Wipro have kept hundreds of approved candidates on hold, waiting for travel approvals or visa stamping, people familiar with the matter told ET. At one IT firm, nearly 600 employees selected for assignments in 2023-24 are still waiting for deployment. The reasons: Subcontracting costs — traditionally used to bridge talent gaps — have declined, as firms optimise general and administrative expenses, according to Kotak Institutional Equities. The numbers: The US issued 11,080 H-1B visas to Indian nationals in April, 11,067 in March, and 13,749 in February, per US State Department data. The annual cap for Indian H-1B visa allotments remains at 85,000. Why it matters: Also Read: Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: OpenAI in fresh funding talks with Saudi PIF, Reliance The latest: The company is looking to secure $30 billion in the second tranche by December, which would value it at about $260 billion pre-money, the report said. SoftBank, which leads the round, has already invested nearly $2 billion and bought another $240 million worth of shares from employees earlier this year. SoftBank is expected to commit about three-fourths of this tranche, while Coatue and Founders Fund may invest at least $100 million each, according to the report. Talks with PIF and Reliance are still in early stages and may evolve, The Information added. OpenAI wants to partner with Reliance to distribute and sell its AI products in India, which CEO Sam Altman has called its second-largest user market. India context: In February, Altman visited India and met government officials and business leaders, including executives from Reliance. As reported by ETtech, OpenAI has also partnered with India's Ministry of Electronics and IT (MeitY) to launch OpenAI Academy India, focused on AI skill development. Separately, Reliance Jio is expanding its AI infrastructure ambitions through investments in data centres, a potential future avenue for collaboration with OpenAI. Also Read: Between the lines: The massive fundraise comes as OpenAI projects capital spending of $90 billion between 2025 and 2027, driven by soaring compute needs as ChatGPT's weekly active users crossed 500 million. Completion of the round hinges on OpenAI completing a corporate restructuring of its for-profit unit by year-end. If that fails, SoftBank may cut its commitment and reduce the round to $20 billion, per the report. The Stargate project, OpenAI's $500 billion global AI data centre buildout with SoftBank, MGX and Oracle, remains a parallel track. Indian semiconductor firms go global to fast-track chipmaking ambitions Driving the moves: Tata Electronics and L&T Semiconductor Technologies (LTSCT) have made strategic bids to acquire foreign chip assets. LTSCT and Kaynes Semicon are jointly acquiring Fujitsu General Electronics' power modules business in Japan for Rs 118.34 crore. Polymatech acquired US-based semiconductor equipment provider Nisene Technology last year to build an integrated manufacturing base. The big picture: Indian firms are eyeing advanced packaging, OSAT (outsourced semiconductor assembly and test), and precision manufacturing capabilities to upskill local talent and establish robust training pipelines. India already has strength in chip design, but access to specialised IP, equipment and know-how remains limited. Why Malaysia matters: Expert view: 'Most acquisitions and partnerships at the moment are really about two things: gaining access to trained talent – essentially acqui-hires – and jump-starting work on cutting-edge technologies,' said Prithvideep Singh of Continental Device India Ltd (CDIL). 'All the JVs and strategic partnerships are a result of the need for Indian entities to build their core competency with best in class proven technology and manufacturing processes,' added Neil Shah of Counterpoint Research. Why it matters: Musk's net worth edges up after Trump apology Catch up quick: Backstory: The tensions stemmed from Musk mocking Trump's economic policy proposals, referring to his spending bill as 'The Big Ugly Bill.' Musk had also stepped down from the Department of Government Efficiency before launching several critical posts. What Trump said: Meanwhile: Also Read: Paytm and Mobikwik stocks slide after MDR rumour sparks selloff. This and more in today's ETtech Top 5.■ OpenAI seeks fresh funds■ Indian semicon goes global■ Musk's apology worksShares of digital payments players Paytm and Mobikwik slipped on Thursday after the finance ministry denied media reports that it was considering levying a merchant discount rate (MDR) on UPI fintech players argue that MDR is needed to sustain payment infrastructure, the government remains firm on keeping UPI free for consumers and merchants to promote digital payments at IT majors are pausing deputations to the US, delaying onsite assignments for thousands of skilled workers even after visa clearances, amid softening client demand and tighter immigration US immigration policies remain tight, executives say business uncertainty and slowing client budgets are bigger factors driving caution. AI-led efficiencies are also shrinking the need for extensive onsite onsite assignments have historically been critical for employee retention and career growth in Indian IT. But with delayed deputations extending to 24 months for many, firms are now prioritising previously selected employees over fresh nominations for Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship has held discussions with Saudi Arabia's Public Investment Fund (PIF), Reliance Industries and UAE's MGX to raise fresh capital as part of its $40 billion megafund , US tech publication The Information chipmakers are turning to overseas acquisitions to bridge capability gaps as they push to build a domestic semiconductor ET reported on June 3 , Tata Electronics is exploring OSAT or fab acquisitions in Malaysia to accelerate its entry into semiconductor manufacturing and domestic semiconductor fabs remain years away, strategic overseas acquisitions are helping Indian companies fast-track capability building in advanced packaging — a crucial step for future global Musk's net worth climbed slightly after his public apology to Donald Trump over recent comments, as the two leaders sought to patch up wealth rose by $191 million to reach $411.4 billion, according to Forbes' real-time tracker. The Tesla CEO posted on X : 'I regret some of my posts about President @realDonaldTrump last week. They went too far.'After the apology, Trump told the New York Post: 'I thought it was very nice that he did that.' White House Press Secretary Karoline Leavitt confirmed Trump appreciated Musk's has unveiled a new 'Trump Card' US residency visa programme priced at $5 million, with registrations open on The programme, still under development, promises wealthy applicants a path to US residency, though details remain scarce.

Centre reviews J&K power, urban infra; 5 grid stations inaugurated, UT told to expedite smart metering
Centre reviews J&K power, urban infra; 5 grid stations inaugurated, UT told to expedite smart metering

Time of India

time33 minutes ago

  • Time of India

Centre reviews J&K power, urban infra; 5 grid stations inaugurated, UT told to expedite smart metering

New Delhi: Union minister for power and housing & urban affairs Manohar Lal on Thursday reviewed the power and urban development sectors in Jammu & Kashmir during a meeting held in Srinagar, attended by Chief Minister Omar Abdullah, senior officials of the Union Territory, Central Public Sector Enterprises and the Government of India. The UT administration highlighted the role of the Revamped Distribution Sector Scheme (RDSS) in strengthening the power distribution network, particularly in remote areas, and thanked the Union Minister for approving revised cost estimates under the scheme. Issues related to upgradation of the power distribution and transmission system were raised by the UT, with a request for continued support from the central government. The Chief Minister thanked the Union Minister for his visit and underlined the UT's commitment to improving the sector. Union Minister Manohar Lal asked the UT administration to plan for capacity augmentation as per the Resource Adequacy Plan. He commended efforts to reduce the gap between power purchase cost and revenue and emphasised that such measures will help improve the financial health of power utilities and ensure reliable supply. He advised the UT to fast-track implementation of prepaid smart metering, beginning with government establishments and extending to commercial and industrial consumers. He added that the government should saturate prepaid metering for all government departments and colonies by August 2025. The Union Minister also highlighted the need to resolve pending issues in ongoing NHPC hydro projects to enable their early completion and called on the UT to consider waiving the water cess levied on hydro projects to reduce power costs. He said the UT should coordinate with the Centre to build skills among the local workforce for hydro projects. The Minister assured full support from the central government for the overall development of the UT. During the visit, the Union Minister inaugurated the following grid infrastructure augmentation works: 1. Augmentation of 132/33 kV Grid Station Awantipora from 145 MVA to 175 MVA. 2. Augmentation of Grid Station Wanpoh, including replacement of a 20 MVA, 132/33 kV power transformer with a 50 MVA transformer. 3. Augmentation of Grid Substation Amargarh from 135 MVA to 195 MVA. 4. Augmentation of Grid Substation Magam from 100 MVA to 130 MVA. 5. Replacement of a 50 MVA transformer bank at Kulgam Grid Station with an 80/100 MVA unit along with related upgrades such as bus strengthening and equipment replacement. The Union Minister stated that the visit was aimed at facilitating resolution of pending issues and identifying new initiatives to enhance services in the UT.

Explainer! As Sebi set to launch UPI IDs for market intermediaries, 5 things investors should know
Explainer! As Sebi set to launch UPI IDs for market intermediaries, 5 things investors should know

Economic Times

time34 minutes ago

  • Economic Times

Explainer! As Sebi set to launch UPI IDs for market intermediaries, 5 things investors should know

Sebi UPI rule: Sebi enables flexible payment modes while mandating new UPI IDs for intermediaries to enhance security and transparency in stock market transactions. Synopsis Sebi UPI rule: Sebi has clarified that investors can choose their preferred payment method—UPI, NEFT, IMPS, RTGS, or Cheques—while transacting with intermediaries. From October 1, 2025, only validated UPI IDs will be accepted for UPI payments to Sebi-registered intermediaries. Investors can choose their preferred mode of payment while transacting with stock market intermediaries, Securities and Exchange Board of India (Sebi) has clarified, saying that investors can choose their preferred mode of payment, such as UPI, IMPS, NEFT, RTGS, or Cheques. ADVERTISEMENT On Wednesday, the capital markets regulator issued a circular, making it mandatory for Sebi-registered intermediaries to obtain UPI IDs. Sebi said that it will issue UPI IDs for all Sebi-registered intermediaries who collect funds in a bid to avoid frauds and trading scams. The new ecosystem will facilitate a secure and transparent payment system for investors to pay their money only to registered intermediaries. No. The investors can choose their preferred mode of payment, such as UPI, IMPS, NEFT, RTGS, or Cheques. If an investor opts to use UPI for the payment to registered intermediaries, then they have to do so only using the new UPI IDs allotted to registered intermediaries. 4 things: One is the UPI ID should properly show the name of the intermediary, followed by the short abbreviation of their category for example 'brk' for Brokers, 'mf' for Mutual Funds to the left of the '@' character. Second should be the new and exclusive handle '@valid' on the right side of the @ followed by the bank name. Third, on the confirmation screen, the app should show a white thumbs-up icon inside a green triangle. Fourth, the QR code generated using the utility will have a white thumbs-up icon inside a green triangle. It will also display the UPI ID just below the QR the new UPI IDs are only for intermediaries to obtain and investors can continue to use their existing UPI IDs. ADVERTISEMENT The secure validated UPI ID of intermediaries will use the same banking channel as the earlier generic UPI handles. In case of any technical difficulty, investors are requested to approach their respective bank. Read more: Sebi to launch UPI IDs for registered entities to avoid trading frauds (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store