MAKE IN INDIA

As world economies restart their engines in a bid to regain lost ground due to the Covid-19 pandemic, India too shows signs of economic buoyancy and promise. India’s Make in India initiative holds a key to the global economic revival, something that should interest Australian government ministries, corporate sector, entrepreneurs, institutions seeking R&D collaborations and Australia Inc in general, among others. India assumes greater importance as several major world economies including American, Japanese, German, British and South Korean look to move out and diversify their businesses from China. India has jumped to 63rd rank in the World Bank’s Ease of Development 2020 report, and has also been ranked as the 9th largest recipient of Foreign Direct Investment destinations in 2019 by the World Investment Report 2020 of the United Nations Conference on Trade and Development (UNCTAD).

Cisco eyes over $1 bn in exports, domestic production with India manufacturing

New Delhi, May 10 (IANS) Global networking giant Cisco on Wednesday announced it will start manufacturing in India, with an aim to drive more than $1 billion in combined domestic production and exports in the coming years via offering a robust and secure device ecosystem. The company will start manufacturing routers and network switches in India to begin with, to create an even more diverse and resilient global supply chain and support India's vision of becoming a global manufacturing hub.

"The manufacturing move is aligned with the government's 'Make in India' initiative. We are bullish on the India market and will tap into the country's vast pool of talent in order to create a more secure and seamless experience for our customers, while making India an export hub for the future," Maria Martinez, Chief Operating Officer, Cisco, told IANS.

Cisco is now building core manufacturing capabilities in India, including testing, development and logistics, and expanding in-house repair operations.

In addition to supporting supply chain resiliency, reducing lead times, and elevating customer experience, this will add further impetus to the local economy, according to the company.

"We are announcing strategic investments in Indian manufacturing capabilities as the next step in delivering cutting-edge technologies to our customers in India and across the globe," said Chuck Robbins, chair and CEO of Cisco.

"Fueled by a rapidly developing digital economy, India is a focal point of innovation and business for Cisco, and we remain deeply committed to our partnerships here," he added.

Robbins met Prime Minister Narendra Modi, External Affairs Minister Dr. S. Jaishankar and Rajeev Chandrasekhar, Union Minister of State for Electronics and IT, among others.

"India is of strategic importance for Cisco, and we continue to bet on India. Today's announcement marks a significant milestone to power the next phase of growth for Cisco. This investment will enable us to bring state-ofthe-art technologies to more people and businesses and help accelerate India's transition into a leading digital economy," said Daisy Chittilapilly, President, Cisco India and SAARC.

Vaishnaw meets Pichai at Google HQ, discusses India Stack

New Delhi, May 9 (IANS) IT and Railways Minister Ashwini Vaishnaw on Tuesday posted an image on social media with Alphabet and Google CEO Sundar Pichai at the tech giant's headquarters in the US, saying they had a good discussion on India Stack and the 'Make in India' programme.

Pichai last met Vaishnaw during his India visit in December, saying it was important for the government to create regulatory frameworks that help companies innovate on top of those local laws of the land.

"Met @sundarpichai at the @ Google HQ. Good discussion on India Stack and Make in India programme," tweeted Vaishnaw. Pichai replied: "Thank you for taking the time to visit us at the Googleplex, Minister @ AshwiniVaishnaw. Enjoyed discussing the many ways we're working together on India's digital transformation, and the opportunities ahead".

In December, Pichai had said that India has a leadership role to play.

"It's important to make sure you're balancing the safeguards you're putting for people and creating innovative frameworks so that companies can innovate on top of certainty in the legal framework," he said in the presence of Vaishnaw, at Google India's flagship event in New Delhi.

Vaishnaw said that the government is working on a range of bills that will safeguard users' data and create a robust legal regulatory framework around the new internet economy.

Pichai had also met Prime Minister Narendra Modi and pledged support for India's G20 Presidency.

"Thank you for a great meeting PM @narendramodi. Inspiring to see the rapid pace of technological change under your leadership. Look forward to continuing our strong partnership and supporting India's G20 Presidency to advance an open, connected internet that works for all," Pichai tweeted after the meeting in the Capital.

To boost self-reliance, Centre approves indigenisation of 928 defence items

New Delhi, May 14 (IANS) Defence Minister Rajnath Singh on Sunday approved fourth Positive Indigenisation List (PIL) of 928 strategically-important Line Replacement Units (LRUs), Subsystems, Spares and Components. This approval includes high-end materials and spares, with import substitution value worth Rs 715 crore.

According to the Ministry of Defence, these initiatives have been taken to promote 'Aatmanirbharta' in the defence sector and minimise the imports by Defence Public Sector Undertakings (DPSUs). These will only be procured from the Indian industry, the official added. On Sunday, the ministry said that this fourth list is in continuation to the previous three PILs involving LRUs or Sub-systems, Assemblies, Sub-assemblies, Spares and Components which were published in December 2021, March 2022 and August 2022 respectively. These lists contain 2,500 items which are already indigenised and 1,238 items which will be indigenised within the given timelines. Of 1,238, 310 items have been indigenised so far.

The DPSUs will undertake indigenisation of these items through different routes under 'Make' category and in-house development through the capabilities of MSMEs and private Indian industry, thereby providing impetus to the growth in economy, enhanced investment in defence and reduction in import dependence of DPSUs. In addition, this will augment the design capabilities of the domestic defence industry by involving academia and research institutions.

The DPSUs will soon initiate procurement action for these notified items. The industry may look for Expression of Interest (EoIs) or Request for Proposal (RFPs) on the Srijan Portal Dashboard especially designed for this purpose and may come forward to participate in large number. The details of the items have been made available on SRIJAN Portal (srijandefence.gov. in), officials said.

India’s forex reserves rose to $595.976bn during week ending May 5: RBI

New Delhi, May 12 (IANS) India's foreign exchange reserves rose by $7.196 billion to $595.976 billion during the week ended May 5, data released by the Reserve Bank of India (RBI) said on Friday. The overall reserves had fallen by $4.532 billion to $588.78 billion during the previous reporting week, ending April 28.

In October 2021, the country's forex reserves had reached an all- time high of $645 billion. The reserves have been declining as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments.

During the week ended on May 5, the foreign currency assets, a major component of the reserves, increased by nearly $6.536 billion to $526.021 billion, according to RBI data.

Our aim is to create 100 semiconductor design startups: MoS IT

New Delhi, May 12 (IANS) India is aiming to create 100 semiconductor design startups in the near future that will develop innovative designs and solutions not only for the domestic market but also for the world, Minister of State for Electronics and IT Rajeev Chandrasekhar said here on Friday.

Addressing a gathering of students, young innovators, industry stakeholders and others at IIT Delhi, the minister said that the country will soon have a talent pool of 85,000 highlyskilled professionals in the semiconductor space.

"Our target is to create 100 semiconductor design startups as there are immense innovation possibilities in this space," said Chandrasekhar during the keynote at the third edition of the flagship 'Semicon India' event. According to Chandrasekhar, in just 14 months, the country has not only created opportunities in manufacturing and design but "with brand new curriculum in place, we will soon deliver a brand new 85,000 talent pool not only for India but also for the world".

"There is nothing in the digital space or in the tech space that India will not be a part of in the coming years," said the minister.