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Time of India
8 hours ago
- Business
- Time of India
21,000-plus jobs at risk ...: India's oldest electronics industry body sends 'urgent SOS' to government on these Chinese restrictions
Representative Image More than 21,000 jobs in India's audio electronics industry are threatened due to China's curbs on rare earth metal exports, according to the Electronic Industries Association of India (ELCINA). According to a report by PTI, India's oldest electronics body ELCINA has raised an urgent alarm over restrictions imposed by Beijing on rare earth metal, particularly on elements like terbium and dysprosium, have disrupted global supply chains, severely impacting India's burgeoning hearables and wearables sector. In April, China introduced stringent export licensing for rare earth elements critical for producing high-performance NdFeB (Neodymium-Iron-Boron) magnets used in consumer electronics. ELCINA highlighted that this has forced Indian device makers to import fully assembled speaker modules from China, reversing progress in local component manufacturing. "This creates a regressive trend—from component manufacturing back to dependency on finished good imports. Over 5,000-6,000 direct jobs and 15,000 indirect jobs are at risk, particularly in Noida and South India," ELCINA stated in a report submitted to the government. The industry body noted that NdFeB magnets , which constitute 5-7% of the bill of materials for audio electronics, are almost entirely imported, with China supplying 90% of India's requirements. Tightened supply and administrative bottlenecks have driven up prices of Chinese magnets, while alternative sources like Japan, the EU, and the US are 2-3 times costlier and lack sufficient capacity to meet India's growing demand. ELCINA has called for urgent government action, including government-to-government dialogue with China, industry-specific exemptions akin to those in semiconductor trade, and increased investment in local R&D and manufacturing of rare earth magnets under the electronics component manufacturing scheme. The body also proposed a production-linked incentive scheme for critical minerals to bolster domestic capabilities. The disruption underscores India's heavy reliance on imported rare earths and the need for strategic measures to safeguard its electronics manufacturing ecosystem, ELCINA warned. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
15-05-2025
- Business
- Time of India
Apple's assurance to Indian government after Donald Trump talks about his 'little problem' with CEO Tim Cook: 'There is no…'
File picture Apple has reassured the Indian government that there will be "no change" in its investment plans for the country, government sources said, following US. President Donald Trump's public criticism of the tech giant's manufacturing presence in India. "There is no change in Apple's investment plans in India," a government source told CNBC-TV18, adding that the company has "assured the Indian government" of its continued commitment to using India as a major manufacturing hub. Trump's 'little problem' with Tim Cook Trump revealed during a business event in Doha, Qatar on that he had confronted Apple CEO Tim Cook about the company's expanding operations in India. "I had a little problem with Tim Cook yesterday. I said to him, my friend, I am treating you very good… but now I hear you are building all over India. I don't want you building in India," Trump stated. The US President added that he had told Cook "India can take care of themselves" and that Apple would instead be "upping their production in the United States." Despite these remarks, India's electronics industry remains confident. Rajoo Goel, Secretary General of the Electronic Industries Association of India (ELCINA), downplayed potential impacts, telling CNBC-TV18, "It may slow things down a bit, but I really don't think it is going to impact India that much." Goel characterized Trump's comments as "just a statement" and expressed optimism that the US President "might change his stance." India becoming a major hub for iPhone manufacturing India has become a critical manufacturing base for Apple, with the company now producing approximately $22 billion worth of iPhones in the country in the year ending March 2025, a 60% increase from the previous year. Currently, one in five iPhones worldwide is manufactured in India. Trump also claimed that India has offered the US "a deal with basically no tariffs," though the Indian government has not yet commented on these specific remarks.
