logo
Mizoram CM Lalduhoma chairs high-level task force meeting on north east economic corridor

Mizoram CM Lalduhoma chairs high-level task force meeting on north east economic corridor

Time of India25-06-2025
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Guwahati: Mizoram Chief Minister Lalduhoma chaired a meeting of the High-Level Task Force on the North East Economic Corridor , set up by the Ministry of DoNER to accelerate economic growth in the North Eastern region of India.As the Convener of the Task Force, Chief Minister Lalduhoma welcomed all participants and expressed his gratitude for their commitment to the development of the region. He outlined key challenges and priorities, particularly underscoring the urgent need for infrastructure development in the Northeast. He noted that Mizoram's Road density remains significantly below the national average and that other critical infrastructure sectors also require focused attention.The Chief Minister stressed that improved infrastructure will not only enhance regional connectivity but also strengthen cross-border trade with neighbouring Asian countries, creating substantial employment opportunities in the process. He also conveyed his appreciation to Union DoNER Minister Jyotiraditya Scindia for his continued leadership and proactive role in advancing development in the North East.Lalmalsawma Pachuau, Secretary of the Planning & Programme Implementation Department, Government of Mizoram, presented a report summarizing key points from the first meeting consultations and inputs received from member states. This was followed by a detailed discussion on the findings and recommendations.The meeting was attended by Jyotiraditya Scindia, Union Minister of DoNER; Conrad Sangma, Chief Minister of Meghalaya; Chandra Mohan Patowary, Minister from Assam; PK Singh, Chief Secretary of Manipur; V. Umashankar, Secretary, Ministry of Road Transport undefined and senior officials from the Department for Promotion of Industry and Internal Trade (DPIIT), among others.Participants shared their perspectives and proposals, reaffirming their commitment to hold follow-up consultations aimed at achieving a collective and coordinated approach to the corridor's development.The High-Level Task Force was constituted by the Ministry of DoNER to identify key interventions and formulate actionable short-term, medium-term, and long-term strategies for the integrated development of the North East Economic Corridor.Lalduhoma chaired a meeting of the Mizoram State Policy Coordination Committee at the CM's Conference Hall. The meeting reviewed the progress of the state government's flagship programme — the Handholding Scheme.As of now, a total of 11,438 applications have been received under the scheme's loan component. Of these, 588 have been approved by the concerned line departments, and Detailed Project Reports (DPRs) are being prepared for 1,687 applicants. Verification and scrutiny are ongoing for 8,249 applications, while 914 applications have been rejected. Rejected applicants are being informed of the reasons and guided on how to reapply correctly or make necessary modifications.So far, 517 approved applications have reached the banking stage, and 51 beneficiaries have received their loans. One of the main reasons for the slow pace of disbursal is technical and procedural issues with the PMEGP portal. However, improvements have been observed recently, and banks are showing increased commitment to disburse loans to eligible applicants.Under the Chief Minister's Special Package, the government has set a target to support 2,000 individuals. So far, 2,226 applicants have been shortlisted. However, some proposals involve exaggerated cost estimates, which may result in adjustments to the final number of beneficiaries. Selected applicants will undergo mandatory training before receiving financial assistance.Line departments have been instructed to complete the scrutiny of all remaining applications within July. The next round of fresh applications is scheduled to begin in August.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

PLI scheme creates 28,000 new jobs, ₹47,000-crore BSNL capex in works: Jyotiraditya Scindia
PLI scheme creates 28,000 new jobs, ₹47,000-crore BSNL capex in works: Jyotiraditya Scindia

Time of India

time3 hours ago

  • Time of India

PLI scheme creates 28,000 new jobs, ₹47,000-crore BSNL capex in works: Jyotiraditya Scindia

The Department of Telecommunications (DoT) is leaving no stone unturned in creating a conducive environment for the telecom industry and is aggressively monitoring service quality as the country's telecom market achieves new milestones. In an interaction with ETTelecom's Muntazir Abbas, Union Minister of Communications and the Development of North Eastern Region (DoNER) Jyotiraditya Scindia speaks on state-run BSNL 's 4G network expansion, capital expenditure (capex) strategy, quality of service, Vodafone Idea health, and 6G-led innovation. Edited excerpts. How many 4G (fourth generation) network sites have been deployed so far by Bharat Sanchar Nigam Limited (BSNL), and by when commercial 5G is expected? The 4G is a huge priority, not only for BSNL, but for the Department of Telecommunications. I think it would not be an exaggeration to say that it's a huge priority for the country too. When BSNL was entering into 4G, it had the same option that the other private players had, which was to buy international equipment and execute it. The Prime Minister was very clear and said that if we are laying out the 4G network, then BSNL must deploy it based on Atmanirbhar (self-reliant) equipment. Eventually, in a record time of 22 months, we had a private sector player, Tejas Networks , that was doing the RAN, and a public sector player, CDoT, that was doing the core software. And we had a domestic system integrator, TCS, that was doing the integration. to roll out a domestic solution. In the last year, roughly from June-July last year till now, we have deployed close to 91,000 sites out of a total of 95,000-96,000. Now, we are tying it up with the core software and are running simulations to ensure quality of services. The second part of this expansion, with an additional 22,000-25,000 sites, will have to take place. Once the quality of service has been ensured, we will look at the possibilities of 5G as well. Still analysts feel that the number of 4G sites which you have just mentioned are still far to reach the mark anywhere closer to what private sector telcos have already deployed? Once the network is perfected, rolling out the balance towers is not that difficult to do. Now, we have also looked at what that will entail. We have another close to ₹47,000 crore capex plan in place for BSNL. Meanwhile, BSNL has done its highest-ever capex of ₹25,000 crores during last year. For the first time in the history of BSNL, the ministry held a 12-hour-long meeting with all the 32 CGMs across every circle in India with an idea to exchange best practices and local priorities, as well as to promote entrepreneurship. All three business verticals— enterprise business (EB), consumer mobility (CM) and consumer fixed access (CFA)— are doing well. Sometime back, you may have noticed MP police ported out as many as 80,000 CUG connections? BSNL is a service provider like any other company. It must survive in a competitive environment like any other player. BSNL has lost out with the MP police because it was a competitive tender-based procedure. There have been other tenders where we won government orders. Within MP only we won with another arm of the government for close to about 35,000 SIM cards. We won the tender against all the private players. READ MORE | MoS Telecom Pemmasani asks BSNL to improve service quality, resolve tower power issues Despite bottlenecks, BSNL has apparently gained new subscribers. Can you share a few data points? We have grown from 8.55 crore subscribers last year to about 9.1 crore after a long time. For the first time in our history, after 17 years, we have shown net profit. In Q3 of FY2024-25, our net profit was ₹262 crores, and in Q4, BSNL's net profit was about ₹280 crores. On an operating basis, our EBITDA margin has increased to about 20% from 12.5% in Q3 of 2024. The operating margin was about ₹2,300 crores. It has now grown to nearly ₹5,395 crores, which means in one year, BSNL has increased its operating margin by 156%. Now we have to ensure the quality of service (QoS). Any update on BharatNet (amended) 3 program as four packages are yet to be re-tendered? By October-November, I think those should be done. All 12 packages are done. The state-run company just recently partnered with multinationals for training purposes. What's the idea behind it? We have introduced the Bharat Ratna Bhim Rao Ambedkar Institute of Telecom Training (BRBRAITT) in Jabalpur which is the property of BSNL. We have introduced an ecosystem environment where Ericsson, Qualcomm, Nokia and Cisco— the world majors from are going to set up training modules for all our young people. We have a target of training between 1,000 to 2,000 students per year. A lot of them will be picked up by these majors. What is the update on the ambitious production-linked incentive (PLI)? PLI has been a huge success. ₹4,305 crores worth of investment has come in, and ₹80,000 crores worth of sales have been made, ₹16,500 crores worth of exports have been done, and close to 28,000 jobs have been created. 42 companies have participated in this. For the first time, companies like Cisco, Ericsson and Nokia are today tying up with domestic companies and doing production from here. READ MORE | Scindia, Pemmasani review BSNL's operational progress, 4G roll out The government is the largest stakeholder in Vodafone Idea. Do you think there is a need to take some concrete steps? For every company— be it Vodafone Idea or Jio or Airtel or even for that matter BSNL, it is for the management of those companies to determine what their future is going to be. We are a 49% stakeholder in Vodafone Idea today, but we do not intend to go above it because the minute you go above 49%, then it becomes a PSU, which is not the government's intention. On the telecom network side, are you satisfied with the quality of service (QoS) presently? Yes, I think as far as what the TRAI guidelines are, all our four telecom service providers today are above these service-level agreements and service-level benchmarks that are in place today. I think Vodafone Idea is just close to the benchmark— a little below in the Northeast in a recent test drive. But otherwise, all are above that. We are looking at what the benchmarks are internationally. Initially, telcos were reporting on a quarterly basis. Now, the telcos must report it monthly. So that is going to be a continuous process of refinement. It is something that is top of mind for me. This is something I monitor very closely on my dashboard to ensure providing the best quality of service to the customers. What are the few milestones in India's telecom sector? We are already the cheapest service in the world. Today, a voice call is hardly 3 paise, compared to 50 paise 10 years ago. Today, data is ₹9.87 per gigabyte (GB) versus ₹287 10 years ago. We have huge economies of scale, which is why today we have 1.16 billion mobile customers. We have grown on the internet from 240 million to close to 970 million users currently. We have grown on broadband, which is greater than 1 GB, from 60 million customers to close to 944 million customers. The government has formed a 6G alliance to contribute meaningfully to the global standards and patents by 2030. Any updates? Bharat 6G Alliance is doing its job. I just had a review in Bengaluru. I spent nearly 3 hours with them. Our goal is to ensure that we contribute 10% of patents. In the 6G standard symposium with ITU and 3GPP, we are well on our way. We have seven verticals, and each of them is working seriously. I am taking periodic reviews and monitoring it because we have to make sure that we come up with product innovation.

Ex-Intel boss pushes shocking $40 billion rescue plan involving Apple, Nvidia - calls for sacking Lip-Bu Tan
Ex-Intel boss pushes shocking $40 billion rescue plan involving Apple, Nvidia - calls for sacking Lip-Bu Tan

Economic Times

time3 hours ago

  • Economic Times

Ex-Intel boss pushes shocking $40 billion rescue plan involving Apple, Nvidia - calls for sacking Lip-Bu Tan

Intel $40 billion rescue plan: Former Intel CEO Craig Barrett suggests a $40 billion plan. It aims to rescue Intel and America's chipmaking dominance. He urges Intel's major clients like Apple and Google to invest. Each should contribute $5 billion. This will ensure domestic chip supply. It will also provide pricing power against Asian rivals. He criticizes Intel's current CEO and investment strategies. Tired of too many ads? Remove Ads Craig Barrett warns of existential threat to Intel and US chipmaking $40 billion proposal targets Intel's biggest customers Tired of too many ads? Remove Ads Intel CEO Lip-Bu Tan under scrutiny amid massive losses Tariffs on advanced chip imports could boost US manufacturing Donald Trump calls for Intel CEO's resignation FAQs Tired of too many ads? Remove Ads Ex-Intel CEO and chairman Craig Barrett has made an urgent call to action, laying out a striking $40 billion plan to save Intel and with it, America's leadership in advanced chipmaking, as per a a piece written for Fortune, Barrett warned that without immediate funding, Intel could fall permanently behind rivals like Taiwan's TSMC and South Korea's Samsung, a shift he believes would be disastrous for national security and the US tech industry, as per a Tom's Hardware believes Intel remains the only American company capable of competing with TSMC at the leading edge of semiconductor manufacturing, according to the report. But he says the company lacks the capital to scale its operations and invest in next-generation technologies, as per the report. According to him, federal funding through the CHIPS Act won't be enough to close the gap, as per a Tom's Hardware reportALSO READ: See you in court! Trump targets Fed Chair Jerome Powell with massive lawsuit threat Instead, he's proposing that Intel's eight largest customers, including companies like Apple, Google, and Nvidia, should each contribute $5 billion, adding up to a collective $40 billion investment, according to the report. In return, these companies would gain guaranteed domestic chip supply and pricing leverage against Asian competitors, as reported by Tom's also pointed out that neither TSMC nor Samsung has plans to bring their most advanced manufacturing capabilities to the US, which he sees as a long-term threat to American companies dependent on foreign chips, according to the wrote that 'The only place the cash can come from is the customers,' adding that leadership in manufacturing requires proactive investment years ahead of market demand, as per the READ: AI upstart Perplexity shocks tech world with $34.5 billion bid to snatch Google Chrome He also criticized Intel's current leadership under CEO Lip-Bu Tan, who was appointed in March 2025, according to the Tom's Hardware report. The company has been struggling with massive financial losses, $18.8 billion in 2024 alone, and another $2.9 billion in the second quarter of 2025, and has also laid off tens of thousands of workers, while canceling major projects, as per the former chairman specifically called out Intel's hesitation to invest in its upcoming 14A manufacturing process without pre-existing customer contracts, calling the approach 'a joke' and warning it risks falling permanently behind, as reported by Tom's plan hinges on two things that include immediate investment in critical technologies like High-NA EUV and backside power delivery, and potential US tariffs on imported advanced chips to stimulate domestic demand, as reported by Tom's Hardware. Barrett even rejected calls to split Intel into separate design and manufacturing entities, pointing out that the core problem is capital, not structure, according to the remark comes after US president Donald Trump had publicly called for Tan's resignation over alleged ties to China, as per the report. Barrett highlighted that his proposal was important for both national security and supply chain stability, warning that the US cannot afford to let Intel's manufacturing leadership slip away, as reported by Tom's wants Intel's biggest customers to each invest $5 billion to help the company modernize its tech players like Apple, Google, and Nvidia.

US tariff impact: Diamonds, shrimps, textiles most vulnerable, says Crisil
US tariff impact: Diamonds, shrimps, textiles most vulnerable, says Crisil

Business Standard

time4 hours ago

  • Business Standard

US tariff impact: Diamonds, shrimps, textiles most vulnerable, says Crisil

Diamond polishing, shrimp, home textiles, and carpets are among the sectors most vulnerable to the adverse effects of the 50 per cent tariffs that the United States (US) plans to impose on Indian imports, Crisil said in a report. The US administration currently levies a 25 per cent tariff on Indian imports. An additional 25 per cent tariff — to take effect two weeks from now as a penalty for India's purchase of Russian crude oil — will take the cumulative additional tariff to 50 per cent. For other sectors such as ready-made garments (RMG), agrochemicals, specialty chemicals, and capital goods, the impact of the 25 per cent reciprocal tariff is likely to be more manageable, given moderate US exposure of 5–20 per cent of overall revenue, and a limited tariff disadvantage that may allow companies to partly pass on the impact to customers. 'Additionally, the move to impose an additional 25 per cent tariff with effect from August 27, 2025, as a penalty for importing crude oil from Russia, will make Indian exports to the US unviable for the aforesaid (diamond polishing, shrimp, home textiles, and carpets) as well as other sectors including RMG, chemicals, agrochemicals, capital goods, and solar panel manufacturing, which have sizable trade exposure to the US,' Crisil said. The 25 per cent reciprocal tariff that came into force on August 7 is higher than that faced by most of India's Asian competitors. Sectors such as diamond polishing, shrimp, and home textiles may see sales volumes decline due to heavy reliance on US trade, while costs will rise due to partial absorption of tariffs, affecting earnings. The extent of the impact will vary depending on sectoral exposure, the ability to pass on incremental costs to customers, and relative tariff disadvantage versus competing nations. 'A potential second-order impact, including a slowdown in US demand and disparate tariffs across nations that could alter global trade dynamics, also warrants close monitoring,' the report said, adding that any potential trade agreement between India and the US in the coming days will bear watching. However, strong corporate balance sheets, potential bilateral trade agreements with other countries, and possible Indian government support for impacted sectors could mitigate the credit impact to some extent, it added. The US is India's largest trade partner and export destination. In FY24, India exported goods worth $86.5 billion to the US, accounting for a fifth of India's merchandise exports. Sectoral Impact Diamond polishing: Exports to the US accounted for about 25% of total revenue in FY25. The tariff will put more pressure on the sector's modest operating margins due to reduced fixed-cost coverage and the need to bear higher tariff costs. US retailers have shown limited willingness to absorb the additional burden. Shrimp: The US accounts for about 48% of revenue for Indian shrimp exporters. India is now one of the highest-taxed major shrimp exporters to the US due to reciprocal tariffs, countervailing duties, and anti-dumping duties. Operating margins will be further eroded due to additional costs and limited pass-through ability, given stiff competition from Ecuador, which benefits from lower tariffs. Home textiles and carpets: Exports account for 70–75% and 65–70% of total sales, respectively, for these sectors. Of this, the US accounts for about 60% of exports for home textiles and about 50% for carpets. While India currently enjoys some tariff advantage against China, the reciprocal tariff will lead to a material decline in revenue and profits, given the limited ability to pass on higher costs for these discretionary products. RMG: Exports to the US form 10–15% of total revenue and will become completely unviable as the tariff structure will be significantly higher than that of competing manufacturers in China and Vietnam. Agrochemicals: Exports to the US account for 11–12% of sector revenue and will face challenges, with China as a key competitor. The ability to divert products to alternative markets such as Latin American countries will be limited by strong Chinese competition in those regions.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store