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2026 set to break new records with ‘Make in India’ and PLI schemes firmly in place

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New Delhi, Dec 26: India’s electronics and semiconductor journey has moved from intent to execution – creating several new highs this year — and 2026 is set to break new records with ‘Make in India’ and production-linked incentive (PLI) schemes firmly in place — establishing India as a competitive and trusted electronics manufacturing destination globally.

According to government data, electronics production has increased sharply from about Rs 1.9 lakh crore in 2014-15 to around Rs 11.3 lakh crore in 2024–25. Electronics exports have also risen from Rs 38,000 crore to more than Rs 3.27 lakh crore during the same period.

India had only two mobile phone manufacturing units in 2014-15, which has now increased to around 300 units. Mobile phone production has grown from Rs 18,000 crore to Rs 5.45 lakh crore, while exports have surged from Rs 1,500 crore to nearly Rs 2 lakh crore.

Electronics exports have risen from Rs 38,000 crore to more than Rs 3.27 lakh crore during the same period.

Meanwhile, the Modified Electronics Manufacturing Clusters (EMC 2.0), located in 10 states with projected investments of Rs 1,46,846 crore, have estimated to generate about 1.80 lakh jobs.

Over the past decade, India’s manufacturing base, particularly in electronics and mobile phones, has expanded substantially, and the country has emerged as a net exporter in several key sectors.

According to Pankaj Mohindroo, Chairman, ICEA, this year marked a defining phase for ‘Make in India’, with the PLI framework firmly establishing India as a competitive and trusted electronics manufacturing destination.

“PLI has accelerated scale, deepened localisation, expanded exports and integrated India into global value chains. As we head into the next phase that is 2026. The sustained policy continuity, faster approvals and focus on component ecosystems will be critical to moving India from volume led manufacturing to high value, innovation-driven production,” he said in a statement.

Ashok Chandak, President of the India Electronics and Semiconductors Association (IESA) and SEMI India, said that India’s electronics growth story is no longer episodic — it is structural.

Policymakers, global and Indian industry leaders, and ecosystem stakeholders are now aligned on building resilient, sustainable, and globally competitive value chains, he mentioned.

“As discussions in 2025 highlighted — spanning policies and incentives, electronics value addition, skilling, academic partnerships, and industry collaboration — the next phase must focus on execution, joint R&D, and technology transfer. The increased use of locally made semiconductors and components will be central to deeper value addition and the long-term success of India’s electronics industry,” Chandak noted.

India’s semiconductor journey has also moved from intent to execution, marking a clear structural shift.

Policymakers, global and Indian industry leaders, and ecosystem stakeholders are aligned on building resilient and competitive semiconductor value chains.

Key priorities discussed in 2025, including semiconductor policies and incentives, human capital development, fabs, advanced packaging and OSAT, academic partnerships, and industry engagement, underscore the need for joint R&D, technology transfer, and well-defined pathways to scale.

Under the Semicon India Programme, 10 units have been approved with an investment of Rs 1.6 lakh crore, which include silicon fab, silicon carbide fab, advanced packaging, and memory packaging.

“Over the next three years, disciplined execution and localisation across design, manufacturing, and advanced packaging will be critical to enable chips for high-volume electronic products consumed locally,” said Chandak.

The government also launched a production-linked incentive scheme (PLI) for large-scale electronics manufacturing of mobile phones and certain specified components. The scheme has attracted investment of Rs 14,065 crore up to October 2025.

To target the manufacturing of IT Hardware, the government launched PLI for IT Hardware for promoting the manufacturing of laptops, tablets, servers and ultra small form factor (USFF) devices. PLI for IT hardware have attracted investment of Rs 846 crore till October 2025.

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Indian Railways launches online excess luggage booking with ticket reservations

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New Delhi, July 31: Passengers travelling by train can now book and pay for excess luggage online while reserving their tickets, as Indian Railways on Friday rolled out a new digital facility aimed at making the travel process more convenient.

The service integrates excess luggage booking with the online ticket reservation system, eliminating the need for passengers to visit parcel offices separately before boarding.

Previously, travellers carrying baggage beyond the free allowance had to complete a separate booking process at railway parcel counters, often leading to additional paperwork and long queues.

The online excess luggage booking facility is available only to passengers holding confirmed tickets and is restricted to travel classes where carrying luggage beyond the free allowance is permitted upon payment of the prescribed charges.

Passengers travelling in AC First Class, AC 2-Tier, First Class, Sleeper Class and Second Class can avail of the service.

However, those travelling in AC 3-Tier and AC Chair Car will not be eligible, as the maximum permissible baggage limit in these classes is the same as the free luggage allowance.

Under the existing baggage rules, AC First Class passengers are entitled to carry up to 70 kg free of charge and can carry a maximum of 150 kg after paying excess luggage charges.

Passengers in AC 2-Tier and First Class are allowed 50 kg free, with a maximum permissible limit of 100 kg.

Sleeper Class passengers can carry 40 kg free and up to 80 kg in total, while Second Class passengers have a free allowance of 35 kg and a maximum limit of 70 kg.

In contrast, AC 3-Tier and AC Chair Car passengers can carry up to 40 kg, which also serves as the maximum permissible limit.

Indian Railways has clarified that passengers carrying baggage beyond the free allowance but within the prescribed maximum limits will be required to pay applicable excess luggage charges.

Apart from weight restrictions, the Railways also enforces size limits for luggage carried inside passenger coaches.

Trunks, suitcases and boxes measuring up to 100 cm × 60 cm × 25 cm are generally permitted inside compartments.

However, passengers travelling in AC 3-Tier and AC Chair Car coaches must adhere to a smaller size limit of 55 cm × 45 cm × 22.5 cm.

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IBM partners Sarvam to strengthen India’s sovereign AI ecosystem

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New Delhi, July 31: IBM and homegrown AI startup Sarvam have partnered to accelerate the development and adoption of sovereign artificial intelligence (AI) technologies in India, with a focus on government agencies, public sector organisations and regulated enterprises, according to a statement on Friday.

Under the partnership, the two companies will jointly demonstrate and pilot sovereign AI technologies for use cases such as citizen services, grievance redressal, document processing and administrative workflows.

The collaboration combines IBM Sovereign Core, the company’s sovereign-by-design AI software platform, with Sarvam’s India-first sovereign AI stack, which includes reasoning models and multilingual language and voice AI developed and trained in India.

The combined offering is designed to help organisations deploy AI while maintaining greater control over data, governance, security and compliance in line with India’s regulatory and operational requirements.

In addition, the initiative aims to accelerate sovereign AI adoption through innovation pilots, solution accelerators, technical advisory services and knowledge-sharing programmes.

The IBM GovTech AI Innovation Center in Lucknow will serve as a joint incubation and demonstration hub where government departments, public sector organisations and enterprises can evaluate practical sovereign AI applications and address technical, operational and governance requirements before scaling deployments.

“Sovereign AI is not simply about where AI runs. It is about giving organisations control over how AI is governed, deployed and operated,” said Sriram Raghavan, General Manager, IBM Software, India and Software Innovation Lab.

He said IBM Sovereign Core provides an enterprise-grade platform designed to help governments and regulated enterprises scale AI while addressing governance, security and compliance requirements.

Pratyush Kumar, Co-Founder of Sarvam, said sovereign AI must work within the systems governments and enterprises already rely on while supporting large-scale operations.

“Our stack puts models, voice and language technologies on top of it, so a citizen can access a benefit or resolve a grievance in their own language, on a phone call,” Kumar said.

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Markets open subdued as IT, pharma stocks offset banking weakness

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Mumbai, July 30: Domestic equity benchmarks opened on a subdued note on Thursday amid mixed global cues, as gains in information technology and pharma stocks were offset by weakness in banking and realty shares.

Sensex opened at 77,638.86, down 15.74 points or 0.02 per cent, while Nifty opened at 24,249.55, lower by 0.65 points.

Among the sectoral indices, Nifty IT was the top gainer, rising 1.39 per cent, followed by Nifty Pharma, Nifty Healthcare, Nifty MidSmall IT & Telecom, and Nifty Auto, which gained up to 0.54 per cent.

In contrast, Nifty Realty declined 0.80 per cent, followed by Nifty Chemicals, which was down 0.45 per cent, while Nifty Private Bank fell 0.42 per cent.

According to market experts, the Indian market continues to indicate a potential breakout trend, although several global headwinds are limiting the upside momentum.

“The spike in Brent crude prices to near $90 following the escalation of the US-Iran conflict is a strong headwind for markets,” they said.

Experts noted that the US Federal Reserve’s decision to keep interest rates unchanged, though widely expected, turned out to be negative for equities as the decision was split 9-3, with three members voting for a rate hike to curb inflation.

However, they believe the Indian market could remain relatively resilient.

Weakness in global chip stocks has prompted foreign portfolio investors (FPIs) to shift allocations, with FPIs turning net buyers in Indian equities so far in July.

Brent crude — the international oil benchmark — declined 1.75 per cent to $89.15 per barrel, while US West Texas Intermediate (WTI) crude fell 1.47 per cent to $83.21 per barrel.

Asian stocks traded mixed. Major indices such as the Nikkei, Hang Seng, and KOSPI were up 0.72 per cent, down 0.02 per cent, and lower by 0.57 per cent, respectively.

US stocks ended lower, with the S&P 500 declining 1.52 per cent, while the Nasdaq ended down 1.74 per cent.

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