Akshaya Tritiya 2025 date and time: What is the best time to buy gold and perform puja to get blessings from the God of wealth
Akshaya Tritiya 2025 date: Akshaya Tritiya, celebrated on April 30, 2025, is considered an auspicious day for prayers and gold purchases, believed to bring lasting prosperity. Retailers like Tanishq and Senco Gold are offering discounts to attract buyers despite rising gold prices. The festival holds religious significance, linked to stories of Lord Krishna and Lord Kubera, symbolizing continued growth and stability.
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Time of India
an hour ago
- Time of India
Indian firms target overseas assets to fast-track semiconductor ambitions
Strategic overseas acquisitions by India's nascent semiconductor companies are set to emerge as a key enabler for the country's ambitions in chip manufacturing and assembly, ensuring access to proprietary expertise, precision equipment, and critical intellectual property, experts told ET. Indian firms including Tata Electronics and L&T Semiconductor Technologies (LTSCT) have recently made significant moves to acquire foreign assets even as they invest in greenfield facilities within the country. These acquisitions bring experienced engineering teams and operational know-how, which are essential for upskilling local workforces and establishing robust training pipelines, explained Kunal Chaudhary, partner and co-leader, inbound investment group, at EY India. LTSCT and Kaynes Semicon are jointly acquiring the power modules business of Fujitsu General Electronics, based in Japan, while opto-semiconductor maker Polymatech last year acquired US-based semiconductor equipment provider Nisene Technology Group to build an integrated chip manufacturing business. Tata Electronics is exploring takeovers of semiconductor fabrication and outsourced semiconductor assembly and test (OSAT) facilities in Malaysia. Chaudhary said while India has already built a strong presence in chip design, moving into OSAT — a high-margin segment that includes advanced packaging and assembly — will be key to climbing the value chain. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories With advanced packaging technologies becoming critical to semiconductor innovation, India's entry into this space could enhance its global positioning, he said. After Kaynes and LTSCT announced acquisition of Fujitsu General's power modules business for Rs 118.34 crore on Monday, Kaynes CEO Raghu Panicker said the deal opens up new avenues for advanced semiconductor packaging excellence. 'This move strengthens Kaynes' OSAT capabilities, while aligning with our long-term strategy of supporting global original equipment manufacturers through best-in-class technology and scalable infrastructure,' he told ET. Kaynes is one of the four companies under the India Semiconductor Mission 1.0 building OSATs in the country, while Larsen & Toubro has invested more than $300 million to create its fabless chip company LTSCT. ET on June 3 reported that Tata Electronics is in talks with several global semiconductor companies to acquire a fabrication or OSAT plant in Malaysia. The move is aimed at bolstering the Tata Group company's knowledge and talent base ahead of its ambitious foray into semiconductor fab, assembly and packaging in India. '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, general manager at Mohali-based Continental Device India Ltd (CDIL) that has a partnership with German semiconductor manufacturer Infineon Technologies. 'Gaining access to know-how is only half the battle,' he said. 'Transferring it to Indian operations and building capability within local teams…demand years of groundwork, deep technical maturity, and process discipline.' Infineon supplies high performance silicon wafers, and CDIL packages and distributes advanced power semiconductors like MOSFETs and modules specifically tailored for the Indian market, including for electric vehicles and renewables. '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,' said Neil Shah, cofounder and vice-president, research, at Counterpoint Research. He noted that matured nodes foundry and back-end packaging OSAT/ATMP are low hanging opportunities for new entrants. 'Building fabs for advanced nodes is still a distant dream for Indian enterprises as there are just three big players like TSMC, the leader, and Samsung and Intel, which are still struggling versus TSMC,' Shah said. 'So, high value fab will take time if at all one of them decides to set up in India in future, if the other ecosystems develop handsomely,' he explained. Biswajeet Mahapatra, principal analyst at Forrester, said acquiring assets of foreign entities allows Indian companies to access advanced technologies like wafer-level packaging, 2.5D/3D integration, and chiplet-based designs, which are critical for modern semiconductors. By leveraging foreign expertise and infrastructure, Indian companies can reduce reliance on imports for high-end packaging solutions and meet the growing demand from global OEMs like Apple and Intel, he explained. For the broader ecosystem, overseas acquisitions and partnerships can help bridge critical capability gaps. Given the current talent crunch in India, they offer a smart and often necessary path for companies entering the sector, experts said. But the real challenge lies in how effectively that know-how is embedded into Indian operations and scaled with consistency and quality, they added.
Time of India
an hour ago
- Time of India
US trade pact set for early finish: Piyush Goyal
India and the US are on track to seal a trade agreement before the deadline of fall 2025 set by PM Narendra Modi and President Donald Trump, commerce and industry minister Piyush Goyal told ET in an interview. Goyal, who is on a four-day visit to Switzerland and Sweden, said the rare earth magnet supply squeeze by China is a wakeup call. Edited excerpts: Trade has now acquired a geopolitical dimension. How can India secure its interests? Today, India is sitting on the high table. We have free trade agreements (FTAs) with most developed nations—Japan and Korea, Australia, UAE, the four EFTA (European Free Trade Association) countries. The FTA with the UK has already closed. We are in active dialogue with the US for a bilateral trade agreement, with the European Union for a free trade agreement… with Peru, Chile, and Oman. The entire world recognises India's growing strength. 'Perfect Opportunity' The world recognises the decisive leadership Prime Minister Modi brings to the table and the opportunity of associating with the fastest growing large economy, which is expected to grow from $4 trillion to $5 trillion. It's a perfect opportunity. And, I think, no country would like to miss it. India is in talks for multiple FTAs, some with advanced economies. How is the government preparing Indian industry to ensure that they can take advantage of these agreements? Also, are there policy interventions that are required to help them do so? For the last 11 years of the Modi government, focus has been on ease of doing business, deregulating the economy, making it less difficult to meet regulatory compliances, and decriminalising our laws. He launched Make in India to encourage investments in the manufacturing sector. We have created a framework within the country with strong macroeconomic fundamentals. The government is ensuring that demand in the country remains robust and grows so that investors from around the world feel interested in working in India. I think the perfect foundation has been laid. Now with these free trade agreements, continuity, stability and predictability of policy will be available for our industry in advanced and developed economies, which is important for investment or business. A case in point is the global capability centres (GCCs). During Covid, the nimbleness with which Prime Minister Modi adapted policy to ensure continuity of business earned India the tag of a trusted partner. All the work that people realised could be done working from home can also be done working from India. That's opened up a plethora of opportunities in terms of jobs. Millions of Indians are now working in GCCs. They're earning us billions of dollars of foreign exchange, adding to our construction and real estate ecosystem, providing tertiary jobs. Nearly 2,000 of them are in India today. Where are we on the US trade agreement and is the baseline 10% tariff a sticking point? We don't negotiate through the press. We negotiate on the negotiating table. When can we expect the deal to come through? We (US and India) are both committed to a bilateral trade agreement. Our leaders have set a task of completing the BTA by fall 2025. We are well on track to complete it before that. Supply chains are facing new challenges. The rare earth magnet issue has again brought into focus the issue of secure supply chains. What is India planning to do to ring-fence its industry? It is a wake-up call not just for Indian businesses but for businesses around the world. And this wake-up call will help all supply chains to reassess their resilience and their dependability on certain geographies. This will prompt them to look for trusted partners. For India, while we may have a problem with permanent magnets in the short run, we are already engaged with industry and with our startup ecosystem to find solutions. Even during the course of my stay in Switzerland, we discussed with some companies how they are coming around to address this problem. And I assure you that we are solving this problem. But this wake-up call will help people reassess the resilience of their supply chains and surely attract business to India. IT services exports have helped make up the goods trade deficit. Is AI a threat to our services exports? Certainly, some work and jobs will get impacted by AI. We cannot deny that. But we cannot cry over that, we have to find solutions. We have to adopt AI. We have to learn and retrain our people to be able to engage with AI. We have to leverage AI to our advantage so that instead of the current work that we are doing, we'll probably do even higher value-added work. At the end of the day, I believe the human mind is always supreme, because AI is largely dependent on what you feed into the system. I think there will be a rejig in the way work is done. There will be a need to retrain and reskill our people, but end of the day, I can assure you, India will come out the winner even in this. The budget had announced an export promotion mission. How soon is it likely to be unveiled? We have already worked out the areas which will be the focus of the available resources with the ministry. The effort is to promote new exporters, look at new markets and new products. The budget and the resources will help, particularly our MSME sector, our job generating sectors, our farmers, and to expand in the international markets. (The reporter was in Switzerland and Sweden at the invitation of the commerce and industry ministry)
Economic Times
5 hours ago
- Economic Times
Starc strikes as Australia fight back in WTC final against South Africa
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