OnePlus partners with Bhagwati Products Ltd to manufacture premium tablets in India
"The collaboration with BPL marks a strategic milestone in our India journey towards deepening our manufacturing capabilities and expanding our connected ecosystem. By localizing tablet production, we are not only reinforcing our commitment to India, but also creating meaningful value for our user community. This partnership reflects our long-term vision to innovate for India, invest in India, and grow with India,' said Robin Liu, CEO of OnePlus India.
In a press note, the company said that this collaboration aligns with OnePlus' long-term vision for India and supports its ongoing Project Starlight initiative, which focuses on deepening local integration. As part of this initiative, OnePlus is significantly expanding its domestic manufacturing capabilities. In addition to assembling smartphones in India, the company has now commenced tablet production at BPL's flagship facility in Greater Noida. Bhagwati Products Ltd will provide end-to-end support to manufacture and localize OnePlus tablets, ensuring they are tailored specifically for Indian consumers.
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Hindustan Times
14 minutes ago
- Hindustan Times
Sanjaya Baru interview: We've turned emigration of talented Indians into an aspiration
A record number of wealthy Indians are leaving the country. According to a recent report by Kotak Bank, one in five UHNIs is either in the process of migrating abroad or has plans to do so. Over 23,000 millionaires have left the country in the last decade, says Sanjaya Baru. In his latest book, Secession of the Successful: The Flight out of New India, the veteran journalist and policy commentator records the various phases of organised migration out of the country and examines the reasons behind the current exodus. Also read | Review: Sanjaya Baru's book does a favour to history, Congress Sanjaya Baru, an economist and political analyst, has written extensively on India's economic transformation and development. His recent book is Secession of the Successful: The Flight Out of New India. For the elite, the pull of the first-world life, especially in Dubai or Singapore, is too strong, says Baru. 'Why wait for 2047 to live in a developed economy if you can do so today?' he says. In this interview, Baru talks about how the exodus has been normalised, the political and economic factors driving it, and what it means for a country that hopes to be a developed economy by 2047. You argue in your book that India's elite aren't just leaving physically, they are slowly pulling away from the idea of India itself. So, would you call this book a warning, a lament, or a diagnosis? It's certainly not a lament. It is a warning. It's a diagnosis to begin with. The brain drain, or the export of human capital, drew attention 40 to 50 years ago when economists like Jagdish Bhagwati wrote about it. But in the last quarter century, no one is paying attention. We have normalised the emigration of talented Indians, to the point where the government actually takes pride in promoting it. So yes, it's a warning: that you're allowing more and more of your talented people to leave, and doing nothing to retain them. And it's a diagnosis, because I look at the different manifestations of emigration. You've described the secession as a flight from responsibility. The rich are also leaving Brazil, South Africa and Turkey. So, why should we be expecting something different from the elite in India? I don't expect anything different. This is not peculiarly Indian, nor is it new. If other countries don't pay attention, that's their headache. But as an Indian concerned about the economy, I worry that more and more talented Indians are leaving. You've written about the government facilitating emigration. Other countries try to curb it. Is this official encouragement a policy mistake? It is a mistake, but a recent one. Labour migration involves talent too, but given our large pool of unemployed workers, I don't worry about it as much. Highly qualified Indians leaving is something a poor, low-income, developing country like ours should worry about. Countries like China, Taiwan, or Korea had large-scale emigration 30 to 40 years ago, but now have return migration because they've become developed economies. We are not at that stage. We cannot prevent emigration. Proposals like Bhagwati's 'brain drain' tax in the 1980s were dismissed as impractical, but why should we encourage it? For example, the foreign minister recently launched the 'Global Access for Talented Indians' initiative. Why should the government get involved in sending people out? We are a capital-deficit economy — and by capital I mean not just finance, but also human capital. Our record in research, science, and advanced fields is poor for a country of our size. What role have political changes played, especially since 2014? The numbers show an increase in the emigration of wealthy and elite Indians over the last decade. There's an economic reason and a political reason. Economically, more Indians can now afford to buy citizenship overseas, property overseas, educate their children abroad, and live abroad. Politically, there is fear — of the taxman, the Enforcement Directorate, and harassment by the bureaucracy. Last year Prime Minister Narendra Modi promised an 'ease of living mission', but nothing was heard after that. Day-to-day life has become more of a headache: constant KYC forms, compliance demands. That's driving some people out. At diaspora events, overseas Indians cheer the Prime Minister and shout 'Bharat Mata ki Jai' and yet they don't return. Is this performative? It is performative, but more than that, it's the politicisation of the diaspora to serve domestic political needs. Every prime minister since 1947 has met overseas Indians; what's new is using these audiences to influence the domestic political process. This risks diplomatic consequences. A Singaporean diplomat once asked me if politicisation of overseas Indians could hurt bilateral relations. Tensions among Sikhs, Khalistanis, and Hindu groups in Canada, the UK, and the US show that the diaspora can become a source of political and law-and-order problems. And yes, there is hypocrisy. If you're so proud of Bharat Mata and this leadership, why don't you come back and help build the country? Post-independence, some of India's best minds went abroad but returned. That isn't happening now. Why? In Jawaharlal Nehru's time, many high-profile Indians returned — Homi Bhabha, Vikram Sarabhai, others — sometimes at his personal request. Conditions in India were modest, but they still came back. In recent decades, very few have returned. Even those who did, like Raghuram Rajan, stayed only briefly. The trend of permanent high-profile return ended in the 1980s. Can India still turn its diaspora into a national asset, as other countries have? Yes, the opportunity hasn't passed. But it depends on leadership that can inspire people the way Nehru did. Today, 22,000 Indians are professors in the US. If even 2% came to teach here, it would make a difference. Some universities like ISB, Ashoka, and Jindal have attracted talent, but not in large numbers. Have we made emigration too aspirational, then? Exactly. We're not ringing alarm bells; we've internalised it. As (economist) Devesh Kapur once noted, most of our elite — across business, politics, diplomacy, bureaucracy, the armed forces, academia — have children who want to emigrate. It's a loss of both human and financial capital. Last year, for the first time, outward FDI exceeded inward FDI. In a labour-surplus, capital-deficit economy, we should be retaining both finance and human capital. But we're not even trying.
Time of India
14 minutes ago
- Time of India
The country where 76% of cars sold are electric
The narrow streets of Kathmandu -- sized for pedestrians and rickshaws -- are choked with engines. Buses, motorbikes, small trucks and taxis fill the sprawling valley with horns and exhaust. For its more than 3 million residents, just getting around is a dangerous, eye-stinging ordeal. But recently, a new kind of motor has started to ease the crush. Sleek electric vehicles glide by with a quiet hum. Gleaming showrooms do a brisk business in the latest models, and charging stations on the highways have turned into rest stops with cafes for drivers to pass the time. The transition is moving quickly. Over the past year, EVs accounted for 76% of all passenger vehicles and half of the light commercial vehicles sold in Nepal. Five years ago, that number was essentially zero. The EV market share in Nepal is now behind only those of a few countries, including Norway, Singapore and Ethiopia. The average for all countries was 20% in 2024. The swift turnover is the result of government policies aimed at leveraging Nepal's wealth of hydropower, easing dependence on imported fossil fuels and clearing the smog. It has been fed by an intense push from Nepal's biggest neighbor, China, the world's dominant manufacturer of battery-powered vehicles. "For us, using electric vehicles is a comparative advantage," said Mahesh Bhattarai, director-general of Nepal's Department of Customs. "It's good for us. In the global market, the Chinese EVs are expanding. The same is happening in Nepal." The effort stands in contrast to policies in the United States and Europe, which have blocked Chinese EVs to protect their domestic auto industries. And it carries hope for other developing countries that seek to become wealthier without enduring the crucible of pollution from which many rich nations have already emerged. The International Energy Agency estimates that the world will add 1 billion vehicles by 2050. A vast majority of them will be in low- and moderate-income countries, where the extent of EV adoption will help determine future levels of both air pollution and climate-warming emissions. "We're interested in making sure that this rapid growth in these emerging markets doesn't follow the same trajectory as the developed markets," said Rob de Jong, head of sustainable transportation for the United Nations Environment Program. But as Nepal has learned, there are obstacles. The country has spent heavily on subsidies for EVs, and getting rid of the support too quickly could derail the shift to battery power. Even if gas-powered passenger cars are phased out, cleaning the air will require public transportation to go electric as well. The Asian Development Bank, a multinational development lender, has been a key financier of Nepal's dams, transmission lines and charging networks. The head of the bank's resident mission in Nepal, Arnaud Cauchois, is cautious about the risk of backsliding. "Given the economic sense that this EV conversion represents for Nepal, I think I would see it as unlikely that we would have major policy change," Cauchois said. "But that's basically a wish more than a conviction." From Indian Petrol to Chinese Cars Many countries are trying to electrify their vehicle fleets, but the case for doing so is even more obvious in Nepal, with its clean energy embodied in the rivers that run down from the Himalayas. A 2015 border skirmish with India squeezed Nepal's petroleum imports, then its largest energy source. After that, the government invested heavily in hydropower and grid infrastructure that have provided cheap, nonpolluting sources of electricity. Nearly all households now have access, and the rolling blackouts have ended. To maximize the potential of its homegrown power, Nepal would need to use it for transportation. But EVs were still too expensive for mass adoption in a country with a per-capita economic output of about $1,400. So, the government pulled all the levers it had to provide incentives. Nepal's primary source of revenue is taxes on imports. To make EVs cheaper, the government set its customs and excise taxes on the cars at a combined maximum of 40% in 2021, compared with 180% for gas-powered cars. Now, the electric version of one Hyundai SUV costs less than $38,000, while the gas-powered model is about $40,000. The Nepal Electricity Authority built 62 charging stations, in Kathmandu and on highways across the country. It allowed anyone to build chargers, levied negligible tariffs on their import and gave away transformers -- the priciest component. Finally, the government set electricity costs for chargers at less than market rates. At those prices, fueling a gas-powered car cost about 15 times as much as charging an electric one. That was enough to create a business model for hotels, restaurants and other roadside entrepreneurs to install chargers on their own. "At first, everybody was scared -- how to establish and whether it would run or not," said Kul Man Ghising, who managed the electricity authority until March. "But we tried and tried and tried." Businesses have now installed about 1,200 chargers, according to the agency, and private residences are likely to have thousands more.
Time of India
16 minutes ago
- Time of India
From Paytm to Eternal: 42 stocks where India's top performing PMS fund managers are betting on
India's sharpest money managers are placing bold bets on the market's most exciting new-age darlings and forgotten gems. The country's top 10 performing Portfolio Management Services (PMS) scheme in July made concentrated plays on everything from fintech unicorns to healthcare disruptors and speciality chemicals, shows data from PMS Bazaar. Here's where the smart money is flowing. InCred Asset Management - Healthcare Portfolio: Leading the Pack with 11.96% Returns The month's standout performer, InCred's Healthcare Portfolio, is doubling down on India's medical revolution with a 19.81% allocation to Healthcare Global Enterprises, the country's largest cancer care network. The fund's conviction play extends to diagnostics powerhouse Thyrocare Technologies (17.35%) and emerging player Krsnaa Diagnostics (11.62%). The healthcare-focused strategy also holds Jubilant Pharmova (10.04%) and RPG Life Sciences (6.81%), positioning itself to capitalise on India's growing healthcare infrastructure and rising medical tourism. Also Read | 7 multibagger stocks that FIIs are hoarding in 2025. Are you missing out? Valcreate's Digital Disruption Strategy: Betting Big on Fintech Giants Valcreate Investment Managers' IME Digital Disruption fund (up 6.34%) is making audacious bets on India's digital economy transformation. The fund has loaded up 22% in Eternal, followed by massive positions in fintech heavyweight One 97 Communications - Paytm (19.30%) and insurance aggregator PB Fintech (19.20%). The digital thesis extends to FSN E-Commerce Ventures - Nykaa (11.40%) and food delivery giant Swiggy (7.10%), capturing the entire new-age commerce ecosystem that's reshaping Indian consumer behaviour. Valcreate's Lifesciences Portfolio: Riding the Agrochemicals Wave Another Valcreate strategy making waves is their Lifesciences and Specialty Opportunities fund (8.48% returns), which has positioned itself as the go-to agrochemicals play. Leading the charge is Sharda Cropchem , with a commanding 15.85% weight, backed by pharma giant Divi's Laboratories (9.33%). The fund's agrochemical conviction deepens with Sumitomo Chemical India (8.08%), Dhanuka Agritech (7.49%), and Rallis India (7.31%), betting on India's agricultural modernisation and crop protection needs. Green Portfolio's MNC Advantage: Industrial Excellence Focus Green Portfolio's MNC Advantage fund (6.89% returns) is zeroing in on India's industrial backbone through multinational subsidiaries. KSB leads the portfolio at 12.68%, followed by engineering specialist Integra Engineering India (10.21%) and auto components player Federal-Mogul Goetze (9.42%). The strategy includes John Cockerill India (6.16%) and premium engineering brand Bosch (5.56%), capitalising on India's manufacturing renaissance and infrastructure buildout. Emkay's Pearls Strategy: Diversified Mid-Cap Play Emkay Investment Managers' Pearls fund (4.20% returns) mirrors the digital disruption theme with Eternal as its top holding (16.30%), while maintaining pharmaceutical exposure through Divi's Laboratories (9.70%). The fund balances growth with stability through Nesco (8.80%), Federal Bank (7.10%), and auto ancillary Sundram Fasteners (7.10%). Ambit's Micro Marvels: Small-Cap Specialisation Ambit Investment Advisors' Micro Marvels Portfolio (4.27% returns) is hunting for tomorrow's champions in India's small-cap universe. The fund spreads its bets across Rajratan Global Wire (7.00%), staffing services leader Teamlease Services (6.50%), and industrial plays Menon Bearings, Entero Healthcare Solutions, and Thejo Engineering (6.00% each). Wryght Research Factor Fund: Contrarian Fintech Bet The Factor Fund from Wryght Research (2.69% returns) demonstrates conviction in fintech recovery with One 97 Communications as its largest holding (7.73%). The fund diversifies across Hitachi Energy India (5.68%), Maharashtra Scooters (5.38%), fertiliser player Paradeep Phosphates (5.19%), and financial conglomerate Bajaj Holdings & Investment (4.91%). Valcreate's Growing India: Chemical Sector Concentration The Growing India fund (2.84% returns) maintains Valcreate's chemical sector thesis with Divi's Laboratories leading at 7.65%, supported by Sharda Cropchem (7.48%) and Rallis India (6.54%). The fund also holds Swaraj Engines (6.32%) and Sumitomo Chemical India (5.82%). Shade Capital Value Fund: Value Hunting Across Caps Shade Capital's Value Fund (2.87% returns) is pursuing deep value opportunities across industrial names like Kilburn Engineering (4.33%), TD Power Systems (4.15%), and wealth manager Nuvama Wealth Management (3.94%). The fund also holds infrastructure play Transrail Lighting (3.71%) and building materials company Interarch Building Products (3.36%). Brightseeds Xylem Maverick: Cash-Heavy Cautious Approach The most conservative among the top performers, Brightseeds' Xylem Maverick Strategy (2.55% returns) holds a massive 47.29% in Zerodha Nifty 1D Rate Liquid ETF & Cash, suggesting a defensive stance. When invested, the fund focuses on agrochemicals through Dharmaj Crop Guard (8.56%), Sudarshan Chemical Industries (7.00%), renewable energy via Borosil Renewables (6.37%), and steel tubes specialist Scoda Tubes (5.49%). Also Read | Share prices rise after you sell? Data from 967 retail-sold stocks confirms your worst fear The positioning of India's top PMS performers reveals a clear trend: smart money is flowing into digital disruption stories, speciality chemicals, healthcare infrastructure, and industrial champions. With 42 distinct stock ideas ranging from established pharma giants to fintech unicorns, these fund managers are positioning for India's next growth phase while maintaining selective exposure across market caps and sectors. ( Disclaimer : Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
